Zacks Investment Research cut shares of RPX Corporation (NASDAQ:RPXC) from a buy rating to a hold rating in a report issued on Wednesday morning.

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. “

Separately, BidaskClub lowered RPX Corporation from a buy rating to a hold rating in a report on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $13.50.

Shares of RPX Corporation (RPXC) traded down 0.15% on Wednesday, reaching $13.31. The company had a trading volume of 108,623 shares. RPX Corporation has a 12 month low of $8.99 and a 12 month high of $15.15. The stock has a 50-day moving average price of $12.90 and a 200-day moving average price of $13.14. The stock has a market cap of $658.85 million, a PE ratio of 33.19 and a beta of 1.44.

RPX Corporation (NASDAQ:RPXC) last issued its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. The firm had revenue of $80.40 million during the quarter, compared to analyst estimates of $81.27 million. RPX Corporation had a return on equity of 5.51% and a net margin of 6.01%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.18 EPS. Analysts predict that RPX Corporation will post $0.72 earnings per share for the current fiscal year.

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In other news, Director Shelby W. Bonnie sold 16,000 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $12.53, for a total value of $200,480.00. Following the transaction, the director now owns 24,757 shares in the company, valued at approximately $310,205.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Shelby W. Bonnie sold 34,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $12.51, for a total value of $425,340.00. Following the completion of the transaction, the director now owns 64,757 shares in the company, valued at approximately $810,110.07. The disclosure for this sale can be found here. Insiders sold a total of 86,560 shares of company stock worth $1,094,932 in the last 90 days. Company insiders own 3.52% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in shares of RPX Corporation by 43.9% in the 1st quarter. Victory Capital Management Inc. now owns 10,263 shares of the business services provider’s stock worth $123,000 after buying an additional 3,131 shares during the last quarter. UBS Asset Management Americas Inc. purchased a new position in shares of RPX Corporation in the 1st quarter worth approximately $211,000. Bogle Investment Management L P DE purchased a new position in shares of RPX Corporation in the 1st quarter worth approximately $215,000. KCG Holdings Inc. purchased a new position in shares of RPX Corporation in the 1st quarter worth approximately $221,000. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of RPX Corporation by 16.2% in the 1st quarter. Public Employees Retirement System of Ohio now owns 27,622 shares of the business services provider’s stock worth $331,000 after buying an additional 3,854 shares during the last quarter. Hedge funds and other institutional investors own 88.05% 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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