Jupiter Asset Management Ltd. Acquires 149,532 Shares of RingCentral, Inc. $RNG

Key Points

• Jupiter Asset Management boosted its RingCentral stake by 11.4% in the fourth quarter, buying 149,532 additional shares and bringing its total to 1,456,270 shares worth about $42.1 million.
• RingCentral reported quarterly earnings of $1.20 per share, topping expectations, while revenue rose 5.3% year over year to $644.2 million. The company also issued FY 2026 and Q2 2026 EPS guidance.
• The company announced a quarterly dividend of $0.075 per share, and analysts currently have a consensus Hold rating with an average price target of $43.00.

Jupiter Asset Management Ltd. increased its holdings in RingCentral, Inc. (NYSE:RNG - Free Report) by 11.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,456,270 shares of the software maker's stock after acquiring an additional 149,532 shares during the quarter. Jupiter Asset Management Ltd. owned about 1.68% of RingCentral worth $42,057,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in RNG. EverSource Wealth Advisors LLC lifted its position in shares of RingCentral by 269.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker's stock worth $29,000 after purchasing an additional 738 shares during the period. Legato Capital Management LLC bought a new position in RingCentral in the fourth quarter worth about $337,000. LSV Asset Management lifted its holdings in RingCentral by 142.4% in the fourth quarter. LSV Asset Management now owns 2,871,700 shares of the software maker's stock worth $82,935,000 after buying an additional 1,686,900 shares during the period. Global Retirement Partners LLC lifted its holdings in RingCentral by 70.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,540 shares of the software maker's stock worth $44,000 after buying an additional 639 shares during the period. Finally, Leonteq Securities AG bought a new stake in RingCentral during the 4th quarter valued at approximately $66,000. 98.61% of the stock is owned by hedge funds and other institutional investors.

RingCentral Stock Up 0.9%

Shares of RNG opened at $41.98 on Friday. The stock has a market cap of $3.52 billion, a P/E ratio of 44.65, a P/E/G ratio of 1.22 and a beta of 1.13. The business's 50 day moving average price is $39.93 and its 200-day moving average price is $33.58. RingCentral, Inc. has a 52 week low of $23.59 and a 52 week high of $48.57.

RingCentral (NYSE:RNG - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The software maker reported $1.20 earnings per share for the quarter, beating analysts' consensus estimates of $1.17 by $0.03. RingCentral had a negative return on equity of 33.75% and a net margin of 3.31%.The company had revenue of $644.20 million during the quarter, compared to analyst estimates of $642.73 million. During the same quarter last year, the company earned $1.00 EPS. The firm's revenue for the quarter was up 5.3% on a year-over-year basis. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. On average, equities analysts anticipate that RingCentral, Inc. will post 2.79 EPS for the current year.

RingCentral Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, June 2nd. RingCentral's payout ratio is currently 31.91%.

Insider Buying and Selling

In other news, CFO Vaibhav Agarwal sold 18,680 shares of the company's stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $36.33, for a total value of $678,644.40. Following the transaction, the chief financial officer owned 139,493 shares in the company, valued at approximately $5,067,780.69. This represents a 11.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Tarun Arora sold 8,840 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $40.69, for a total transaction of $359,699.60. Following the sale, the chief accounting officer owned 75,492 shares in the company, valued at approximately $3,071,769.48. The trade was a 10.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 62,237 shares of company stock worth $2,472,398 in the last quarter. Corporate insiders own 7.30% of the company's stock.

Analyst Upgrades and Downgrades

RNG has been the subject of several research reports. Zacks Research raised RingCentral from a "strong sell" rating to a "hold" rating in a research report on Wednesday, March 4th. Oppenheimer reaffirmed an "outperform" rating and issued a $50.00 price target on shares of RingCentral in a research note on Friday, May 8th. Morgan Stanley increased their price objective on RingCentral from $33.00 to $40.00 and gave the stock an "equal weight" rating in a report on Monday, May 11th. Wells Fargo & Company boosted their target price on shares of RingCentral from $32.00 to $43.00 and gave the company an "equal weight" rating in a report on Friday, May 8th. Finally, Needham & Company LLC upped their target price on shares of RingCentral from $36.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, March 13th. Three equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $43.00.

About RingCentral

RingCentral, Inc is a leading provider of cloud-based business communications and collaboration solutions. The company’s flagship platform delivers unified communications as a service (UCaaS), integrating voice over IP (VoIP) phone systems, video conferencing, team messaging and SMS into a single, cloud-native application. In addition to its UCaaS offering, RingCentral provides contact center as a service (CCaaS) capabilities, enabling organizations to manage customer interactions across voice, email, chat and social channels from a centralized dashboard.

Founded in 1999 and headquartered in Belmont, California, RingCentral went public on the New York Stock Exchange under the ticker RNG in 2013.

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