RingCentral Inc (NYSE:RNG) – Equities research analysts at William Blair issued their Q1 2018 earnings per share (EPS) estimates for RingCentral in a report issued on Tuesday. William Blair analyst B. Suri forecasts that the software maker will post earnings per share of ($0.05) for the quarter. William Blair also issued estimates for RingCentral’s Q2 2018 earnings at ($0.05) EPS, Q3 2018 earnings at ($0.05) EPS, Q4 2018 earnings at ($0.05) EPS, FY2018 earnings at ($0.22) EPS and FY2019 earnings at ($0.13) EPS.
RingCentral (NYSE:RNG) last announced its earnings results on Monday, February 12th. The software maker reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. The company had revenue of $140.50 million during the quarter, compared to the consensus estimate of $136.34 million. RingCentral had a negative return on equity of 17.15% and a negative net margin of 5.21%. The company’s revenue was up 34.4% on a year-over-year basis. During the same period last year, the firm earned $0.03 earnings per share.
Shares of RingCentral (NYSE:RNG) opened at $63.10 on Friday. The firm has a market capitalization of $4,880.00, a PE ratio of -185.59 and a beta of 0.87. RingCentral has a 52 week low of $24.30 and a 52 week high of $63.60.
In related news, CFO Mitesh Dhruv sold 3,000 shares of RingCentral stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $50.96, for a total value of $152,880.00. Following the completion of the transaction, the chief financial officer now directly owns 132,087 shares in the company, valued at $6,731,153.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO David Sipes sold 15,270 shares of RingCentral stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $49.06, for a total value of $749,146.20. Following the completion of the transaction, the chief operating officer now owns 280,781 shares of the company’s stock, valued at $13,775,115.86. The disclosure for this sale can be found here. Insiders sold 230,934 shares of company stock valued at $11,112,262 over the last quarter. Insiders own 14.53% of the company’s stock.
A number of large investors have recently bought and sold shares of RNG. Ameriprise Financial Inc. grew its stake in RingCentral by 43.0% in the second quarter. Ameriprise Financial Inc. now owns 107,873 shares of the software maker’s stock worth $3,943,000 after purchasing an additional 32,446 shares in the last quarter. New York State Common Retirement Fund grew its stake in RingCentral by 10.2% in the second quarter. New York State Common Retirement Fund now owns 66,800 shares of the software maker’s stock worth $2,442,000 after purchasing an additional 6,199 shares in the last quarter. UBS Asset Management Americas Inc. grew its stake in RingCentral by 26.6% in the second quarter. UBS Asset Management Americas Inc. now owns 22,758 shares of the software maker’s stock worth $832,000 after purchasing an additional 4,787 shares in the last quarter. Northern Trust Corp grew its stake in RingCentral by 11.8% in the second quarter. Northern Trust Corp now owns 797,090 shares of the software maker’s stock worth $29,134,000 after purchasing an additional 83,918 shares in the last quarter. Finally, Virtu KCG Holdings LLC acquired a new position in RingCentral in the second quarter worth about $248,000. Institutional investors and hedge funds own 75.37% of the company’s stock.
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RingCentral Company Profile
RingCentral, Inc is a provider of software-as-a-service (SaaS) solutions for businesses to support modern communications. The Company’s cloud-based business communications solutions provide a single user identity across multiple locations and devices, including smartphones, tablets, personal computers (PCs) and desk phones, and allow for communication across multiple channels, including high definition (HD) voice, video, short messaging service (SMS), messaging and collaboration, conferencing, online meetings, and fax.
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