Hillsdale Investment Management Inc. Purchases 15,600 Shares of RingCentral, Inc. $RNG

Hillsdale Investment Management Inc. boosted its position in RingCentral, Inc. (NYSE:RNG) by 5.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 293,250 shares of the software maker’s stock after acquiring an additional 15,600 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in RingCentral were worth $8,469,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RNG. EverSource Wealth Advisors LLC increased its position in RingCentral by 269.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker’s stock valued at $29,000 after buying an additional 738 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in RingCentral in the 3rd quarter valued at about $30,000. Jones Financial Companies Lllp increased its position in RingCentral by 61.6% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,217 shares of the software maker’s stock valued at $37,000 after buying an additional 464 shares in the last quarter. Global Retirement Partners LLC increased its position in RingCentral by 70.9% in the 4th quarter. Global Retirement Partners LLC now owns 1,540 shares of the software maker’s stock valued at $44,000 after buying an additional 639 shares in the last quarter. Finally, Covestor Ltd increased its position in RingCentral by 198.5% in the 4th quarter. Covestor Ltd now owns 1,594 shares of the software maker’s stock valued at $46,000 after buying an additional 1,060 shares in the last quarter. 98.61% of the stock is owned by institutional investors.

RingCentral Price Performance

Shares of NYSE RNG opened at $43.45 on Friday. The stock has a market capitalization of $3.64 billion, a P/E ratio of 46.23, a P/E/G ratio of 1.23 and a beta of 1.13. The company has a 50-day moving average price of $40.06 and a 200-day moving average price of $33.65. RingCentral, Inc. has a 1 year low of $23.59 and a 1 year high of $48.57.

RingCentral (NYSE:RNG) last issued its quarterly earnings data on Thursday, May 7th. The software maker reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $642.73 million. During the same period last year, the company earned $1.00 earnings per share. The business’s 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. As a group, equities research analysts anticipate that RingCentral, Inc. will post 2.79 earnings per share for the current fiscal year.

RingCentral Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, June 2nd. RingCentral’s dividend payout ratio (DPR) is presently 31.91%.

Insider Activity at RingCentral

In related news, CAO Tarun Arora sold 8,840 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $40.69, for a total transaction of $359,699.60. Following the transaction, the chief accounting officer directly owned 75,492 shares of the company’s stock, valued at $3,071,769.48. This trade represents a 10.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Kira Makagon sold 16,988 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $42.54, for a total transaction of $722,669.52. Following the transaction, the chief operating officer directly owned 212,724 shares in the company, valued at $9,049,278.96. The trade was a 7.40% decrease in their ownership of the stock. 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 62,237 shares of company stock valued at $2,472,398 over the last ninety days. Corporate insiders own 7.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Oppenheimer reiterated an “outperform” rating and set a $50.00 price objective on shares of RingCentral in a report on Friday, May 8th. Rosenblatt Securities lifted their price objective on shares of RingCentral from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, May 8th. Weiss Ratings upgraded shares of RingCentral from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 2nd. Jefferies Financial Group reiterated a “hold” rating and set a $40.00 price objective on shares of RingCentral in a report on Saturday, May 9th. Finally, Zacks Research upgraded shares of RingCentral from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Three research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, RingCentral currently has a consensus rating of “Hold” and a consensus price target of $43.00.

RingCentral 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.