Palisade Capital Management LLC NJ Buys 68,630 Shares of RealPage, Inc. (RP)
Palisade Capital Management LLC NJ increased its stake in RealPage, Inc. (NASDAQ:RP) by 7.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 956,468 shares of the software maker’s stock after buying an additional 68,630 shares during the period. RealPage accounts for about 1.3% of Palisade Capital Management LLC NJ’s holdings, making the stock its 4th largest position. Palisade Capital Management LLC NJ’s holdings in RealPage were worth $34,385,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of RP. Ameritas Investment Partners Inc. bought a new position in shares of RealPage during the first quarter valued at approximately $163,000. Bessemer Group Inc. boosted its position in shares of RealPage by 2.0% in the second quarter. Bessemer Group Inc. now owns 5,000 shares of the software maker’s stock valued at $180,000 after buying an additional 100 shares during the last quarter. Gotham Asset Management LLC bought a new position in shares of RealPage during the first quarter valued at approximately $200,000. UBS Group AG boosted its position in shares of RealPage by 28.4% in the first quarter. UBS Group AG now owns 6,018 shares of the software maker’s stock valued at $210,000 after buying an additional 1,332 shares during the last quarter. Finally, Guggenheim Capital LLC bought a new position in shares of RealPage during the fourth quarter valued at approximately $222,000. 67.44% of the stock is currently owned by institutional investors and hedge funds.
Shares of RealPage, Inc. (NASDAQ:RP) opened at 40.10 on Monday. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of 125.31 and a beta of 1.11. RealPage, Inc. has a 1-year low of $23.69 and a 1-year high of $40.40. The company’s 50-day moving average is $37.45 and its 200 day moving average is $35.15.
RealPage (NASDAQ:RP) last issued its earnings results on Wednesday, August 2nd. The software maker reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.01. RealPage had a net margin of 4.25% and a return on equity of 10.93%. The business had revenue of $161.30 million for the quarter, compared to analyst estimates of $160.02 million. During the same period in the previous year, the business earned $0.18 EPS. The firm’s revenue was up 13.2% on a year-over-year basis. On average, equities research analysts expect that RealPage, Inc. will post $0.93 EPS for the current fiscal year.
Several research firms recently weighed in on RP. Zacks Investment Research upgraded shares of RealPage from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. JMP Securities reiterated an “outperform” rating and set a $43.00 price objective on shares of RealPage in a research note on Friday, May 5th. Royal Bank Of Canada reiterated a “hold” rating and set a $38.00 price objective on shares of RealPage in a research note on Monday, July 24th. Stephens reiterated 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. Finally, Deutsche Bank AG increased their price objective on shares of RealPage from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, May 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $39.83.
In other news, major shareholder Seren Capital, Ltd. sold 95,760 shares of RealPage stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $35.19, for a total transaction of $3,369,794.40. Following the sale, the insider now directly owns 18,965,016 shares in the company, valued at approximately $667,378,913.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Stephen T. Winn sold 27,930 shares of RealPage stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $37.17, for a total transaction of $1,038,158.10. Following the sale, the chief executive officer now owns 3,530,528 shares in the company, valued at $131,229,725.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,352,610 shares of company stock worth $47,682,056. 33.24% of the stock is owned by company insiders.
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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