Fort Washington Investment Advisors Inc. OH Buys 212,146 Shares of Ringcentral, Inc. $RNG

Key Points

• Fort Washington Investment Advisors Inc. OH increased its stake in RingCentral, Inc. by 27.1%, acquiring an additional 212,146 shares, bringing its total ownership to nearly 1 million shares valued at approximately $28 million.
• A recent analysis has led to a mix of ratings for RingCentral, with four analysts issuing a Buy rating, while nine recommended holding the stock, and one rated it a Sell, with a consensus target price of $30.62.
• Despite a slight increase in stock price to $30.75, RingCentral reported a negative return on equity of 19.63% and a net margin of -0.50% in its latest quarterly earnings.

Fort Washington Investment Advisors Inc. OH raised its stake in Ringcentral, Inc. (NYSE:RNG - Free Report) by 27.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 995,888 shares of the software maker's stock after purchasing an additional 212,146 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned 1.11% of Ringcentral worth $28,233,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Wedge Capital Management L L P NC increased its stake in shares of Ringcentral by 9.6% in the second quarter. Wedge Capital Management L L P NC now owns 75,553 shares of the software maker's stock worth $2,142,000 after buying an additional 6,646 shares during the period. Diversified Trust Co increased its position in shares of Ringcentral by 110.2% in the second quarter. Diversified Trust Co now owns 59,876 shares of the software maker's stock valued at $1,697,000 after acquiring an additional 31,391 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in shares of Ringcentral during the second quarter valued at about $277,000. Parallel Advisors LLC boosted its holdings in shares of Ringcentral by 256.9% during the second quarter. Parallel Advisors LLC now owns 1,481 shares of the software maker's stock worth $42,000 after purchasing an additional 1,066 shares during the period. Finally, Central Pacific Bank Trust Division grew its stake in shares of Ringcentral by 22.9% in the second quarter. Central Pacific Bank Trust Division now owns 8,753 shares of the software maker's stock worth $248,000 after purchasing an additional 1,630 shares during the last quarter. Institutional investors own 98.61% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on RNG shares. Wall Street Zen raised Ringcentral from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 5th. Jefferies Financial Group decreased their target price on Ringcentral from $30.00 to $29.00 and set a "hold" rating for the company in a report on Wednesday, August 6th. UBS Group cut their price target on shares of Ringcentral from $33.00 to $32.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Oppenheimer upgraded shares of Ringcentral from a "market perform" rating to an "outperform" rating and set a $35.00 price objective for the company in a report on Wednesday, August 6th. Finally, KeyCorp began coverage on shares of Ringcentral in a research report on Friday, June 6th. They issued a "sector weight" rating for the company. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $30.62.

Ringcentral Trading Up 1.8%

Shares of NYSE RNG opened at $30.75 on Monday. Ringcentral, Inc. has a 12-month low of $20.58 and a 12-month high of $42.19. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of -219.66, a price-to-earnings-growth ratio of 1.41 and a beta of 1.32. The firm has a 50 day moving average of $29.43 and a 200 day moving average of $27.35.

Ringcentral (NYSE:RNG - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The software maker reported $1.06 EPS for the quarter, topping the consensus estimate of $1.02 by $0.04. Ringcentral had a negative return on equity of 19.63% and a negative net margin of 0.50%.The firm had revenue of $620.40 million during the quarter, compared to analyst estimates of $617.90 million. During the same period in the prior year, the business posted $0.91 EPS. Ringcentral's revenue was up 4.6% on a year-over-year basis. Ringcentral has set its Q3 2025 guidance at 1.060-1.080 EPS. FY 2025 guidance at 4.200-4.320 EPS. Sell-side analysts predict that Ringcentral, Inc. will post 1.29 EPS for the current year.

Insider Buying and Selling

In other news, CAO Tarun Arora sold 1,037 shares of the firm's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $31.09, for a total transaction of $32,240.33. Following the sale, the chief accounting officer directly owned 110,626 shares in the company, valued at $3,439,362.34. This trade represents a 0.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Agarwal sold 2,443 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $30.70, for a total transaction of $75,000.10. Following the completion of the transaction, the chief financial officer directly owned 226,448 shares of the company's stock, valued at $6,951,953.60. This represents a 1.07% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,430 shares of company stock valued at $2,291,052. 6.97% of the stock is owned by corporate insiders.

Ringcentral Company Profile

RingCentral, Inc, together with its subsidiaries, provides cloud communications, video meetings, collaboration, and contact center software-as-a-service solutions worldwide. The company's products include RingCentral Message Video Phone that provides a unified experience for communication and collaboration across multiple modes, including HD voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax; RingCentral Contact Center, a collaborative contact center solution that delivers AI-powered omnichannel and workforce engagement solutions with integrated RingCentral MVP; and RingCX, an AI-powered contact center that a native delivers omnichannel experience.

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