RealPage, Inc. (RP) Raised to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of RealPage, Inc. (NASDAQ:RP) from a sell rating to a hold rating in a research report sent to investors 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. “
RP has been the topic of a number of other reports. 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 reaffirmed a hold rating and issued a $42.00 price objective on shares of RealPage in a research note on Monday, September 11th. KeyCorp started 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. Deutsche Bank AG reaffirmed a buy rating and issued a $45.00 price objective (up from $42.00) on shares of RealPage in a research note on Wednesday, August 9th. Finally, Stephens reaffirmed an overweight rating and issued a $47.00 price objective (up from $42.00) on shares of RealPage in a research note on Thursday, August 3rd. One equities research 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’s stock. RealPage has an average rating of Buy and an average target price of $41.29.
Shares of RealPage (NASDAQ:RP) opened at 39.90 on Tuesday. The firm has a market capitalization of $3.15 billion, a P/E ratio of 124.69 and a beta of 1.06. The firm has a 50-day moving average price of $40.82 and a 200-day moving average price of $37.30. RealPage has a 52-week low of $23.69 and a 52-week high of $43.65.
RealPage (NASDAQ:RP) last issued its quarterly earnings results on Wednesday, August 2nd. The software maker reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The business had revenue of $161.30 million during the quarter, compared to analyst estimates of $160.02 million. RealPage had a net margin of 4.25% and a return on equity of 10.26%. RealPage’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 earnings per share. On average, equities research analysts anticipate that RealPage will post $0.93 EPS for the current year.
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In other news, Chairman Stephen T. Winn sold 310,411 shares of RealPage stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $40.20, for a total transaction of $12,478,522.20. Following the transaction, the chairman now directly owns 3,050,264 shares of the company’s stock, valued at $122,620,612.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Stephen T. Winn sold 27,930 shares of RealPage stock in a transaction on Monday, June 26th. The stock was sold at an average price of $37.17, for a total transaction of $1,038,158.10. Following the transaction, the chief executive officer now directly 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 ninety days, insiders sold 1,905,551 shares of company stock worth $75,948,393. Insiders own 33.24% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of RealPage by 10.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,841 shares of the software maker’s stock worth $102,000 after acquiring an additional 272 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in shares of RealPage during the first quarter worth $163,000. Bessemer Group Inc. raised its holdings in shares of RealPage by 2.0% during the second quarter. Bessemer Group Inc. now owns 5,000 shares of the software maker’s stock worth $180,000 after acquiring an additional 100 shares during the period. Gotham Asset Management LLC acquired a new stake in shares of RealPage during the first quarter worth $200,000. Finally, Bfsg LLC acquired a new stake in shares of RealPage during the second quarter worth $209,000. 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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