RealPage, Inc. (RP) Rating Lowered to Sell at Zacks Investment Research

RealPage, Inc. (NASDAQ:RP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, November 8th.

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. “

Several other research analysts have also recently commented on the stock. Benchmark Co. raised their target price on shares of RealPage from $43.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. Deutsche Bank AG reissued a “buy” rating and issued a $42.00 price objective (up from $40.00) on shares of RealPage in a research note on Tuesday, July 18th. BidaskClub raised shares of RealPage from a “hold” rating to a “buy” rating in a research note on Saturday, September 2nd. Royal Bank Of Canada reissued a “hold” rating and issued a $42.00 price objective on shares of RealPage in a research note on Monday, September 11th. Finally, KeyCorp initiated coverage on shares of RealPage in a research note on Thursday, September 7th. They issued an “overweight” rating and a $50.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $46.33.

Shares of RealPage (NASDAQ RP) traded down $0.05 during mid-day trading on Wednesday, reaching $44.05. 378,379 shares of the company’s stock traded hands, compared to its average volume of 544,827. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market capitalization of $3,650.84, a P/E ratio of 80.09 and a beta of 1.09. RealPage has a 1 year low of $28.00 and a 1 year high of $45.10.

RealPage (NASDAQ:RP) last issued its quarterly earnings data on Thursday, November 2nd. The software maker reported $0.22 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.22. RealPage had a net margin of 4.52% and a return on equity of 9.51%. The firm had revenue of $169.76 million during the quarter, compared to the consensus estimate of $170.73 million. During the same period last year, the business posted $0.20 earnings per share. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. research analysts forecast that RealPage will post 0.57 earnings per share for the current fiscal year.

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In related news, Chairman Stephen T. Winn sold 314,335 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $43.57, for a total value of $13,695,575.95. Following the transaction, the chairman now owns 2,766,870 shares in the company, valued at $120,552,525.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Seren Capital, Ltd. sold 89,220 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $43.50, for a total transaction of $3,881,070.00. Following the transaction, the insider now owns 17,815,796 shares in the company, valued at approximately $774,987,126. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,258,628 shares of company stock worth $93,612,221. Insiders own 33.24% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in RP. BlackRock Inc. raised its holdings in shares of RealPage by 70,939.4% during the first quarter. BlackRock Inc. now owns 3,387,159 shares of the software maker’s stock valued at $118,213,000 after purchasing an additional 3,382,391 shares during the period. Janus Henderson Group PLC acquired a new position in shares of RealPage during the second quarter valued at about $107,795,000. Royal Bank of Canada raised its holdings in shares of RealPage by 89,197.4% during the second quarter. Royal Bank of Canada now owns 948,338 shares of the software maker’s stock valued at $34,092,000 after purchasing an additional 947,276 shares during the period. Stockbridge Partners LLC raised its holdings in shares of RealPage by 26.2% during the second quarter. Stockbridge Partners LLC now owns 3,806,256 shares of the software maker’s stock valued at $136,835,000 after purchasing an additional 790,297 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of RealPage by 74.0% during the second quarter. Renaissance Technologies LLC now owns 1,378,538 shares of the software maker’s stock worth $49,558,000 after acquiring an additional 586,144 shares in the last quarter. Hedge funds and other institutional investors own 70.60% of the company’s stock.

About RealPage

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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