Lazard Asset Management LLC Has $14.44 Million Stake in RingCentral, Inc. $RNG

Lazard Asset Management LLC reduced its position in RingCentral, Inc. (NYSE:RNG) by 26.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 388,157 shares of the software maker’s stock after selling 141,472 shares during the quarter. Lazard Asset Management LLC’s holdings in RingCentral were worth $14,436,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Compound Planning Inc. acquired a new stake in shares of RingCentral during the 1st quarter worth approximately $237,000. Bank of Nova Scotia acquired a new position in RingCentral during the first quarter valued at approximately $412,000. WealthCollab LLC raised its position in RingCentral by 59.7% during the first quarter. WealthCollab LLC now owns 693 shares of the software maker’s stock valued at $26,000 after purchasing an additional 259 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in RingCentral by 33.0% during the first quarter. PNC Financial Services Group Inc. now owns 5,945 shares of the software maker’s stock worth $221,000 after purchasing an additional 1,475 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its holdings in shares of RingCentral by 127.3% in the 1st quarter. Meeder Asset Management Inc. now owns 732 shares of the software maker’s stock valued at $27,000 after purchasing an additional 410 shares in the last quarter. Institutional investors own 98.61% of the company’s stock.

Analysts Set New Price Targets

RNG has been the topic of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating on shares of RingCentral in a research note on Monday, July 20th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $40.00 price objective on shares of RingCentral in a research note on Saturday, May 9th. Mizuho lifted their target price on RingCentral from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Morgan Stanley boosted their target price on RingCentral from $33.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Finally, Wells Fargo & Company increased their target price on shares of RingCentral from $32.00 to $43.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, RingCentral has a consensus rating of “Hold” and a consensus target price of $44.40.

Insider Activity

In related news, COO Kira Makagon sold 16,988 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $42.54, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Tarun Arora sold 3,615 shares of RingCentral stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $43.00, for a total transaction of $155,445.00. Following the sale, the chief accounting officer owned 68,100 shares in the company, valued at approximately $2,928,300. This represents a 5.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last ninety days, insiders sold 38,628 shares of company stock valued at $1,656,201. 7.30% of the stock is currently owned by company insiders.

RingCentral Stock Performance

NYSE RNG opened at $57.50 on Thursday. The firm’s fifty day moving average price is $41.24 and its two-hundred day moving average price is $37.42. The stock has a market cap of $4.82 billion, a PE ratio of 46.00, a PEG ratio of 1.61 and a beta of 1.14. RingCentral, Inc. has a fifty-two week low of $23.59 and a fifty-two week high of $58.98.

RingCentral (NYSE:RNG) last announced its quarterly earnings results on Thursday, July 23rd. The software maker reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. RingCentral had a negative return on equity of 34.49% and a net margin of 4.27%.The company had revenue of $657.01 million during the quarter, compared to analysts’ expectations of $650.53 million. During the same period in the prior year, the company earned $1.06 EPS. RingCentral’s revenue was up 5.9% compared to the same quarter last year. RingCentral has set its FY 2026 guidance at 4.960-5.100 EPS and its Q3 2026 guidance at 1.250-1.300 EPS. As a group, sell-side analysts predict that RingCentral, Inc. will post 2.88 earnings per share for the current fiscal year.

RingCentral Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be given a $0.125 dividend. This is a boost from RingCentral’s previous quarterly dividend of $0.07. This represents a $0.50 annualized dividend and a yield of 0.9%. The ex-dividend date is Thursday, August 6th. RingCentral’s dividend payout ratio is 24.00%.

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.