RPX Corporation (RPXC) Raised to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of RPX Corporation (NASDAQ:RPXC) from a hold rating to a buy rating in a research note published on Tuesday morning. Zacks Investment Research currently has $14.00 target price on the business services provider’s stock.
According to Zacks, “RPX Corporation is a provider of patent risk solutions, offering defensive buying, acquisition syndication, patent intelligence and advisory services. The Company provides a subscription-based patent risk management solution where by acquiring patents it mitigates and manages patent risk. It also provides to its clients access to its proprietary patent market intelligence and data. Its clientele compromise companies that design, make or sell technology-based products and services as well as companies that use technology in their businesses. RPX Corporation is based in San Francisco, California. “
A number of other research firms also recently weighed in on RPXC. Barclays PLC reissued a sell rating and set a $11.00 target price on shares of RPX Corporation in a research report on Monday, May 15th. BidaskClub downgraded shares of RPX Corporation from a hold rating to a sell rating in a research report on Tuesday, August 1st. TheStreet raised shares of RPX Corporation from a c rating to a b- rating in a research report on Tuesday, May 2nd. Finally, Cowen and Company increased their target price on shares of RPX Corporation from $11.00 to $14.00 and gave the company a market perform rating in a research report on Wednesday, May 3rd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $13.50.
Shares of RPX Corporation (RPXC) opened at 12.36 on Tuesday. RPX Corporation has a 12 month low of $8.99 and a 12 month high of $15.15. The firm has a market capitalization of $611.82 million, a P/E ratio of 30.82 and a beta of 1.39. The firm’s 50-day moving average is $13.61 and its 200 day moving average is $12.72.
RPX Corporation (NASDAQ:RPXC) last released its earnings results on Tuesday, August 1st. The business services provider reported $0.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.05. RPX Corporation had a net margin of 6.01% and a return on equity of 5.51%. The firm had revenue of $80.40 million during the quarter, compared to the consensus estimate of $81.27 million. During the same period in the prior year, the firm earned $0.18 EPS. The company’s revenue was down 3.2% compared to the same quarter last year. On average, equities research analysts anticipate that RPX Corporation will post $0.72 EPS for the current year.
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In related news, CRO Steven S. Swank sold 2,340 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $14.00, for a total transaction of $32,760.00. Following the sale, the executive now directly owns 1,857 shares in the company, valued at approximately $25,998. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mallun Yen sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $12.92, for a total transaction of $129,200.00. Following the sale, the insider now owns 157,560 shares in the company, valued at $2,035,675.20. The disclosure for this sale can be found here. Insiders have sold a total of 63,156 shares of company stock worth $865,322 over the last 90 days. 3.52% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Trexquant Investment LP boosted its stake in shares of RPX Corporation by 2.5% in the first quarter. Trexquant Investment LP now owns 44,787 shares of the business services provider’s stock worth $537,000 after buying an additional 1,074 shares during the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of RPX Corporation by 1.1% in the first quarter. Parametric Portfolio Associates LLC now owns 206,998 shares of the business services provider’s stock worth $2,484,000 after buying an additional 2,322 shares during the last quarter. TFS Capital LLC acquired a new stake in shares of RPX Corporation during the first quarter worth approximately $375,000. Karp Capital Management Corp acquired a new stake in shares of RPX Corporation during the first quarter worth approximately $437,000. Finally, UBS Asset Management Americas Inc. acquired a new stake in shares of RPX Corporation during the first quarter worth approximately $211,000. Institutional investors own 90.38% of the company’s stock.
RPX Corporation Company Profile
RPX Corporation is engaged in providing an alternative to litigation through its patent risk management services. The Company helps companies reduce patent litigation risk and corporate legal expense through two primary service offerings: patent risk management services and discovery services. It operates through two segments: patent risk management and discovery services.
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