RingCentral, Inc. $RNG is Invenomic Capital Management LP's 7th Largest Position

Key Points

• Invenomic Capital Management increased its RingCentral stake by 3.7% in the fourth quarter, bringing its holdings to 1.54 million shares worth about $44.4 million. The position now represents roughly 2.1% of the fund’s portfolio and is its 7th largest holding.
• RingCentral reported better-than-expected quarterly results, posting EPS of $1.20 versus estimates of $1.17 and revenue of $644.2 million, up 5.3% year over year. The company also raised guidance for FY 2026 and Q2 2026.
• Insider selling and mixed analyst sentiment were notable in the period, with executives Tarun Arora and Kira Makagon selling shares under Rule 10b5-1 plans. Wall Street’s consensus remains “Hold,” with an average price target of $43.00.

Invenomic Capital Management LP grew its position in RingCentral, Inc. (NYSE:RNG - Free Report) by 3.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,538,034 shares of the software maker's stock after buying an additional 55,587 shares during the period. RingCentral makes up about 2.1% of Invenomic Capital Management LP's investment portfolio, making the stock its 7th largest holding. Invenomic Capital Management LP owned about 1.78% of RingCentral worth $44,418,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of RNG. EverSource Wealth Advisors LLC increased its holdings 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 in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of RingCentral during the third quarter valued at $30,000. Jones Financial Companies Lllp lifted its holdings in shares of RingCentral by 61.6% during the third quarter. Jones Financial Companies Lllp now owns 1,217 shares of the software maker's stock valued at $37,000 after purchasing an additional 464 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in shares of RingCentral by 70.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,540 shares of the software maker's stock valued at $44,000 after purchasing an additional 639 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in shares of RingCentral by 198.5% during the fourth quarter. Covestor Ltd now owns 1,594 shares of the software maker's stock valued at $46,000 after purchasing an additional 1,060 shares in the last quarter. 98.61% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at RingCentral

In other news, CAO Tarun Arora sold 3,615 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $43.00, for a total value of $155,445.00. Following the transaction, the chief accounting officer owned 68,100 shares in the company, valued at $2,928,300. This represents a 5.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Kira Makagon sold 16,988 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $42.54, for a total transaction of $722,669.52. Following the completion of the transaction, the chief operating officer owned 212,724 shares in the company, valued at $9,049,278.96. This trade represents a 7.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 41,656 shares of company stock worth $1,780,310 in the last quarter. Company insiders own 7.30% of the company's stock.

RingCentral Stock Performance

RNG opened at $35.56 on Thursday. The stock has a market capitalization of $2.98 billion, a P/E ratio of 37.83, a P/E/G ratio of 1.12 and a beta of 1.14. The company's 50-day simple moving average is $41.03 and its two-hundred day simple moving average is $34.96. RingCentral, Inc. has a 52-week low of $23.59 and a 52-week high of $49.85.

RingCentral (NYSE:RNG - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The software maker reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.03. RingCentral had a net margin of 3.31% and a negative return on equity of 33.75%. The firm had revenue of $644.20 million for the quarter, compared to analysts' expectations of $642.73 million. During the same quarter in the prior year, the business earned $1.00 EPS. The business's quarterly revenue 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. Research analysts forecast that RingCentral, Inc. will post 2.79 EPS for the current fiscal year.

RingCentral Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Tuesday, June 2nd. RingCentral's dividend payout ratio is 31.91%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on RNG shares. Piper Sandler upped their target price on shares of RingCentral from $28.00 to $37.00 and gave the company a "neutral" rating in a research note on Monday, February 23rd. Wells Fargo & Company upped their target price on shares of RingCentral from $32.00 to $43.00 and gave the company an "equal weight" rating in a research note on Friday, May 8th. Weiss Ratings upgraded shares of RingCentral from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, March 2nd. Robert W. Baird set a $45.00 target price on shares of RingCentral in a research note on Friday, May 8th. Finally, Morgan Stanley upped their target price on shares of RingCentral from $33.00 to $40.00 and gave the company an "equal weight" rating in a research note on Monday, May 11th. Three analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $43.00.

RingCentral Company Profile

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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