New Century Financial Group LLC Buys 22,329 Shares of Ringcentral, Inc. $RNG

New Century Financial Group LLC grew its position in shares of Ringcentral, Inc. (NYSE:RNG) by 203.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,286 shares of the software maker’s stock after purchasing an additional 22,329 shares during the quarter. New Century Financial Group LLC’s holdings in Ringcentral were worth $944,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. Parallel Advisors LLC lifted its holdings in Ringcentral by 256.9% in the second quarter. Parallel Advisors LLC now owns 1,481 shares of the software maker’s stock valued at $42,000 after buying an additional 1,066 shares during the period. New Age Alpha Advisors LLC acquired a new stake in Ringcentral in the first quarter worth $49,000. Ameritas Advisory Services LLC bought a new stake in Ringcentral in the second quarter valued at $49,000. PNC Financial Services Group Inc. raised its holdings in shares of Ringcentral by 26.6% during the first quarter. PNC Financial Services Group Inc. now owns 2,925 shares of the software maker’s stock valued at $72,000 after purchasing an additional 615 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Ringcentral by 1,803.3% during the 1st quarter. GAMMA Investing LLC now owns 5,843 shares of the software maker’s stock worth $145,000 after purchasing an additional 5,536 shares in the last quarter. 98.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RNG has been the topic of a number of research reports. Wells Fargo & Company initiated coverage on Ringcentral in a research note on Tuesday. They set an “equal weight” rating and a $32.00 price target on the stock. KeyCorp initiated coverage on Ringcentral in a report on Friday, June 6th. They set a “sector weight” rating for the company. Jefferies Financial Group cut their target price on Ringcentral from $30.00 to $29.00 and set a “hold” rating on the stock in a report on Wednesday, August 6th. Wall Street Zen upgraded shares of Ringcentral from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 5th. Finally, Oppenheimer raised shares of Ringcentral from a “market perform” rating to an “outperform” rating and set a $35.00 price objective on the stock in a research note on Wednesday, August 6th. Four research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $31.38.

Insider Activity at Ringcentral

In related news, CFO Vaibhav Agarwal sold 2,443 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $30.70, for a total transaction of $75,000.10. Following the sale, the chief financial officer owned 226,448 shares of the company’s stock, valued at approximately $6,951,953.60. This represents a 1.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Tarun Arora sold 1,037 shares of Ringcentral stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $31.09, for a total value of $32,240.33. Following the transaction, the chief accounting officer directly owned 110,626 shares of the company’s stock, valued at $3,439,362.34. The trade was a 0.93% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,430 shares of company stock worth $2,291,052. Company insiders own 6.97% of the company’s stock.

Ringcentral Stock Performance

RNG opened at $27.86 on Friday. The firm has a 50-day moving average of $29.53 and a 200 day moving average of $27.39. Ringcentral, Inc. has a fifty-two week low of $20.58 and a fifty-two week high of $42.19. The firm has a market cap of $2.52 billion, a P/E ratio of -199.01, a PEG ratio of 1.29 and a beta of 1.32.

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

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.