RingCentral, Inc. (RNG) Sets Record High; Strong Momentum for Holders

February 15, 2018 - By Marry Poplack

Investors sentiment decreased to 0.99 in Q3 2017. Its down 0.32, from 1.31 in 2017Q2. It dived, as 18 investors sold RingCentral, Inc. shares while 62 reduced holdings. 26 funds opened positions while 53 raised stakes. 55.54 million shares or 2.55% more from 54.16 million shares in 2017Q2 were reported.
Brandywine Managers holds 23,095 shares. The Wisconsin-based Timpani Cap Ltd Liability Corp has invested 1.57% in RingCentral, Inc. (NYSE:RNG). National Bank & Trust Of Nova Scotia owns 21,761 shares. Suntrust Banks reported 4,939 shares. Voya Inv Mgmt Ltd accumulated 153,025 shares. Clearbridge Limited Com accumulated 299,899 shares or 0.27% of the stock. 1.22 million are held by Jpmorgan Chase Com. The Massachusetts-based Congress Asset Management Co Ma has invested 0.02% in RingCentral, Inc. (NYSE:RNG). Wellington Group Inc Llp reported 131,283 shares stake. Gp One Trading Lp accumulated 0% or 6,072 shares. Falcon Point Capital Limited Co reported 8,862 shares. Clearbridge Llc reported 875 shares stake. Ngam Advisors L P accumulated 52,397 shares or 0.02% of the stock. Pitcairn invested 0.03% in RingCentral, Inc. (NYSE:RNG). Castleark Mngmt Ltd Liability Company, a Illinois-based fund reported 431,188 shares.

Since August 16, 2017, it had 0 buys, and 23 sales for $18.13 million activity. $379,800 worth of RingCentral, Inc. (NYSE:RNG) was sold by Shah Praful. 3,000 shares valued at $143,550 were sold by Dhruv Mitesh on Tuesday, December 19. Shmunis Vladimir also sold $3.88M worth of RingCentral, Inc. (NYSE:RNG) on Monday, August 21. Marlow John H sold $254,580 worth of stock or 6,000 shares. On Wednesday, August 16 the insider Williams R Neil sold $869,000.

The stock of RingCentral, Inc. (NYSE:RNG) reached all time high today, Feb, 15 and still has $64.02 target or 7.00 % above today’s $59.83 share price. This indicates more upside for the $4.63B company. This technical setup was reported by Barchart.com. If the $64.02 PT is reached, the company will be worth $323.96M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events.

The stock increased 3.43% or $1.98 during the last trading session, reaching $59.83. About 556,096 shares traded or 16.48% up from the average. RingCentral, Inc. (NYSE:RNG) has risen 80.85% since February 15, 2017 and is uptrending. It has outperformed by 64.15% the S&P500.

RingCentral, Inc. (NYSE:RNG) Ratings Coverage

Among 18 analysts covering RingCentral (NYSE:RNG), 15 have Buy rating, 0 Sell and 3 Hold. Therefore 83% are positive. RingCentral had 60 analyst reports since July 21, 2015 according to SRatingsIntel. The stock of RingCentral, Inc. (NYSE:RNG) has “Buy” rating given on Monday, October 23 by William Blair. SunTrust initiated the shares of RNG in report on Monday, June 26 with “Buy” rating. As per Monday, February 12, the company rating was maintained by SunTrust. The stock has “Buy” rating by Dougherty & Company on Wednesday, April 26. The firm has “Hold” rating given on Tuesday, December 12 by J.P. Morgan. Suntrust Robinson initiated RingCentral, Inc. (NYSE:RNG) on Tuesday, June 27 with “Buy” rating. The rating was maintained by Northland Capital on Tuesday, February 13 with “Buy”. The company was maintained on Thursday, August 3 by Northland Capital. As per Thursday, August 4, the company rating was maintained by Jefferies. The rating was downgraded by Morgan Stanley on Thursday, December 17 to “Equal-Weight”.

More important recent RingCentral, Inc. (NYSE:RNG) news were published by: Nasdaq.com which released: “RingCentral Inc. (RNG) Has Jumped To A New High After Q4 Profit Beat” on February 13, 2018, also Businesswire.com published article titled: “RingCentral Announces Fourth Quarter and Full Year 2017 Results”, Businesswire.com published: “Zane Long, Vice President of Global Channel Sales at RingCentral, Recognized …” on February 14, 2018. More interesting news about RingCentral, Inc. (NYSE:RNG) was released by: Businesswire.com and their article: “MSX International Boosts Customer Experience and Connects Global Workforce …” with publication date: February 06, 2018.

RingCentral, Inc. provides software-as-a-service solutions for business communications in the United States and internationally. The company has market cap of $4.63 billion. The companyÂ’s products include RingCentral Office, a multi-tenant, multi-location, enterprise-grade communications solution that enables employees to communicate through voice, text, team messaging and collaboration, and HD video and Web conferencing, including smartphones, tablets, PCs, and desk phones for businesses that require a communications solution; RingCentral Professional, an inbound call routing subscription with text and fax capabilities primarily for smaller businesses; and RingCentral Fax solution that provides Internet fax capabilities, which allow businesses to send and receive fax documents without the need for a fax machine. It currently has negative earnings. The Company’s products also comprise RingCentral Contact Center, which provides a cloud based contact center solution that delivers multi-channel capabilities; and RingCentral Glip, a team messaging and collaboration solution that allows a range of teams to stay connected through various modes of communication through an integration with RingCentral Office.

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