RealPage, Inc. (NASDAQ:RP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “RealPage, Inc. provides on-demand property management solutions that enable owners and managers of single-family and a wide variety of multi-family rental property types to manage their marketing, pricing, screening, leasing, accounting, purchasing and other property operations. The Company’s products include OneSite Solutions, to increase occupancy and reduce operating expenses through streamlined operations; CrossFire, a sales and marketing system to capture more leads, manage and retain more residents, and provide residents with the means to sign up for utilities and other services; YieldStar, to optimize asset values through revenue management, portfolio management, and market intelligence; LeasingDesk, a risk mitigation system; Velocity, to generate comprehensive utility and convergent bills for properties and deliver superior submetering services; OpsTechnology, a spend management system. RealPage, Inc. is headquartered in Carrollton, Texas. “
A number of other analysts have also recently commented on RP. Deutsche Bank AG reaffirmed a “buy” rating and issued a $42.00 price target (up from $40.00) on shares of RealPage in a research note on Tuesday, July 18th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $38.00 price target on shares of RealPage in a research note on Monday, July 24th. Stephens reaffirmed an “overweight” rating and issued a $47.00 price target (up from $42.00) on shares of RealPage in a research note on Thursday, August 3rd. BidaskClub raised RealPage from a “hold” rating to a “buy” rating in a research note on Saturday, September 2nd. Finally, KeyCorp initiated coverage on RealPage in a research note on Thursday, September 7th. They issued an “overweight” rating and a $50.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $41.29.
RealPage (RP) opened at 39.45 on Tuesday. RealPage has a 52-week low of $23.69 and a 52-week high of $43.65. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 123.28 and a beta of 1.06. The stock’s 50 day moving average is $40.82 and its 200 day moving average is $37.30.
RealPage (NASDAQ:RP) last announced its quarterly earnings data on Wednesday, August 2nd. The software maker reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.01. The firm had revenue of $161.30 million during the quarter, compared to analysts’ expectations of $160.02 million. RealPage had a return on equity of 10.26% and a net margin of 4.25%. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.18 EPS. Equities research analysts forecast that RealPage will post $0.93 earnings per share for the current year.
In related news, CEO Stephen T. Winn sold 27,930 shares of the business’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $37.17, for a total value of $1,038,158.10. Following the completion of the transaction, the chief executive officer now directly owns 3,530,528 shares in the company, valued at approximately $131,229,725.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alfred R. Berkeley III sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $40.30, for a total value of $141,050.00. Following the completion of the transaction, the director now owns 45,038 shares of the company’s stock, valued at $1,815,031.40. The disclosure for this sale can be found here. Insiders sold a total of 1,905,551 shares of company stock valued at $75,948,393 over the last quarter. 33.24% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the business. Bessemer Group Inc. boosted its position in RealPage by 2.0% during the 2nd quarter. Bessemer Group Inc. now owns 5,000 shares of the software maker’s stock worth $180,000 after acquiring an additional 100 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its position in RealPage by 0.3% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 38,088 shares of the software maker’s stock worth $1,369,000 after acquiring an additional 100 shares during the last quarter. Martingale Asset Management L P boosted its position in RealPage by 1.4% during the 2nd quarter. Martingale Asset Management L P now owns 7,214 shares of the software maker’s stock worth $260,000 after acquiring an additional 100 shares during the last quarter. Renaissance Group LLC boosted its position in RealPage by 2.4% during the 2nd quarter. Renaissance Group LLC now owns 9,424 shares of the software maker’s stock worth $339,000 after acquiring an additional 218 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in RealPage by 10.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,841 shares of the software maker’s stock worth $102,000 after acquiring an additional 272 shares during the last quarter. 70.49% of the stock is owned by hedge funds and other institutional investors.
RealPage, Inc is a provider of technology to the real estate industry, helping owners, managers and investors. The Company’s property management solutions are referred to as Enterprise Resource Planning systems. Its on demand platform provides a single point of access and a repository of real-time lease transaction data, including prospect, renter and property data.
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