Zacks Investment Research lowered shares of RealPage, Inc. (NASDAQ:RP) from a hold rating to a sell rating in a report released 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 equities analysts have also commented on the company. Royal Bank Of Canada restated a hold rating and set a $42.00 price objective on shares of RealPage in a research note on Monday. KeyCorp began coverage on RealPage in a research note on Thursday, September 7th. They set an overweight rating and a $50.00 price objective on the stock. BidaskClub upgraded RealPage from a hold rating to a buy rating in a research note on Saturday, September 2nd. Deutsche Bank AG restated a buy rating and set a $45.00 price objective (up previously from $42.00) on shares of RealPage in a research note on Wednesday, August 9th. Finally, Stephens restated an overweight rating and set a $47.00 price objective (up previously from $42.00) on shares of RealPage in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $41.29.
Shares of RealPage (NASDAQ RP) opened at 40.35 on Tuesday. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 126.09 and a beta of 1.06. The stock’s 50 day moving average price is $40.70 and its 200 day moving average price is $37.07. RealPage has a one year low of $23.69 and a one year high of $43.65.
RealPage (NASDAQ:RP) last announced its earnings results on Wednesday, August 2nd. The software maker reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.01. The company had revenue of $161.30 million for the quarter, compared to analyst estimates of $160.02 million. RealPage had a return on equity of 10.26% and a net margin of 4.25%. The firm’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.18 earnings per share. On average, equities analysts anticipate that RealPage will post $0.93 earnings per share for the current fiscal year.
In related news, Chairman Stephen T. Winn sold 163,600 shares of the firm’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $41.55, for a total transaction of $6,797,580.00. Following the sale, the chairman now owns 3,143,085 shares of the company’s stock, valued at approximately $130,595,181.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Seren Capital, Ltd. sold 95,760 shares of the firm’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $36.95, for a total value of $3,538,332.00. Following the sale, the insider now directly owns 18,590,136 shares in the company, valued at approximately $686,905,525.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,403,094 shares of company stock worth $55,751,245. Company insiders own 33.24% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NN Investment Partners Holdings N.V. raised its position in RealPage by 8.2% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 46,585 shares of the software maker’s stock worth $1,675,000 after purchasing an additional 3,530 shares during the last quarter. American International Group Inc. raised its position in RealPage by 5.3% during the 1st quarter. American International Group Inc. now owns 32,746 shares of the software maker’s stock worth $1,143,000 after purchasing an additional 1,660 shares during the last quarter. PNC Financial Services Group Inc. raised its position in RealPage by 51.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 76,058 shares of the software maker’s stock worth $2,654,000 after purchasing an additional 25,919 shares during the last quarter. Geode Capital Management LLC raised its position in RealPage by 4.1% during the 1st quarter. Geode Capital Management LLC now owns 459,510 shares of the software maker’s stock worth $16,036,000 after purchasing an additional 17,968 shares during the last quarter. Finally, American Capital Management Inc. bought a new position in RealPage during the 2nd quarter worth $10,332,000. 70.49% of the stock is currently owned by institutional investors.
RealPage Company Profile
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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