RealPage, Inc. (RP) Upgraded by Zacks Investment Research to “Hold”
Zacks Investment Research upgraded shares of RealPage, Inc. (NASDAQ:RP) from a sell rating to a hold rating in a report published 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. “
Several other brokerages have also commented on RP. Deutsche Bank AG reaffirmed a buy rating and issued a $42.00 price target (up previously 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 previously 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 began coverage on RealPage in a research note on Thursday, September 7th. They issued an overweight rating and a $50.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. RealPage currently has a consensus rating of Buy and a consensus target price of $41.29.
Shares of RealPage (NASDAQ RP) traded down 0.62% during mid-day trading on Tuesday, reaching $40.25. The company had a trading volume of 18,472 shares. The company has a market capitalization of $3.18 billion, a PE ratio of 125.78 and a beta of 1.06. RealPage has a 1-year low of $23.69 and a 1-year high of $43.65. The stock’s 50-day moving average price is $40.82 and its 200 day moving average price is $37.30.
RealPage (NASDAQ:RP) last released its quarterly earnings data 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 revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 earnings per share. Equities analysts expect that RealPage will post $0.93 EPS for the current year.
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In other RealPage news, Director Alfred R. Berkeley III sold 3,500 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $40.30, for a total transaction of $141,050.00. Following the sale, the director now owns 45,038 shares in the company, valued at approximately $1,815,031.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Stephen T. Winn sold 310,411 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $40.20, for a total value of $12,478,522.20. Following the sale, the chairman now owns 3,050,264 shares in the company, valued at approximately $122,620,612.80. The disclosure for this sale can be found here. Insiders sold a total of 1,905,551 shares of company stock worth $75,948,393 in the last quarter. Company insiders own 33.24% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of RP. BlackRock Inc. increased its holdings in RealPage by 70,939.4% during the 1st quarter. BlackRock Inc. now owns 3,387,159 shares of the software maker’s stock worth $118,213,000 after purchasing an additional 3,382,391 shares during the period. Janus Henderson Group PLC purchased a new stake in RealPage during the 2nd quarter worth about $107,795,000. Royal Bank of Canada increased its holdings in RealPage by 89,197.4% during the 2nd quarter. Royal Bank of Canada now owns 948,338 shares of the software maker’s stock worth $34,092,000 after purchasing an additional 947,276 shares during the period. Citadel Advisors LLC increased its holdings in RealPage by 1,793.3% during the 1st quarter. Citadel Advisors LLC now owns 919,565 shares of the software maker’s stock worth $32,093,000 after purchasing an additional 870,996 shares during the period. Finally, Stockbridge Partners LLC increased its holdings in RealPage by 26.2% during the 2nd quarter. Stockbridge Partners LLC now owns 3,806,256 shares of the software maker’s stock worth $136,835,000 after purchasing an additional 790,297 shares during the period. Institutional investors own 70.49% of the company’s stock.
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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