Alliancebernstein L.P. Grows Position in RealPage, Inc. (RP)
Alliancebernstein L.P. lifted its position in shares of RealPage, Inc. (NASDAQ:RP) by 1.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 85,300 shares of the software maker’s stock after purchasing an additional 1,100 shares during the quarter. Alliancebernstein L.P. owned about 0.10% of RealPage worth $3,067,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RP. NN Investment Partners Holdings N.V. boosted its holdings in RealPage by 8.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 46,585 shares of the software maker’s stock worth $1,675,000 after acquiring an additional 3,530 shares in the last quarter. American International Group Inc. boosted its holdings in RealPage by 5.3% in the first quarter. American International Group Inc. now owns 32,746 shares of the software maker’s stock worth $1,143,000 after acquiring an additional 1,660 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in RealPage by 51.7% in the first quarter. PNC Financial Services Group Inc. now owns 76,058 shares of the software maker’s stock worth $2,654,000 after acquiring an additional 25,919 shares in the last quarter. Geode Capital Management LLC boosted its holdings in RealPage by 4.1% in the first quarter. Geode Capital Management LLC now owns 459,510 shares of the software maker’s stock worth $16,036,000 after acquiring an additional 17,968 shares in the last quarter. Finally, American Capital Management Inc. bought a new stake in RealPage in the second quarter worth $10,332,000. Institutional investors own 70.49% of the company’s stock.
In other RealPage news, Chairman Stephen T. Winn sold 310,411 shares of RealPage stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $40.20, for a total transaction of $12,478,522.20. Following the completion of the transaction, the chairman now owns 3,050,264 shares in the company, valued at approximately $122,620,612.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Seren Capital, Ltd. sold 95,760 shares of RealPage stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $38.98, for a total value of $3,732,724.80. Following the transaction, the insider now owns 18,486,216 shares of the company’s stock, valued at approximately $720,592,699.68. The disclosure for this sale can be found here. Insiders have sold a total of 1,982,789 shares of company stock valued at $80,002,714 in the last quarter. Company insiders own 33.24% of the company’s stock.
RP has been the topic of several analyst reports. Zacks Investment Research downgraded RealPage from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. Deutsche Bank AG reissued a “buy” rating and issued a $42.00 target price (up from $40.00) on shares of RealPage in a report on Tuesday, July 18th. BidaskClub raised RealPage from a “hold” rating to a “buy” rating in a report on Saturday, September 2nd. Royal Bank Of Canada reissued a “hold” rating and issued a $38.00 target price on shares of RealPage in a report on Monday, July 24th. Finally, KeyCorp initiated coverage on RealPage in a report on Thursday, September 7th. They issued an “overweight” rating and a $50.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $41.29.
Shares of RealPage, Inc. (NASDAQ:RP) opened at 41.95 on Tuesday. The stock has a market cap of $3.31 billion, a PE ratio of 131.09 and a beta of 1.09. The company’s 50-day moving average price is $40.96 and its 200-day moving average price is $37.82. RealPage, Inc. 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 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.01. RealPage had a return on equity of 10.26% and a net margin of 4.25%. The company had revenue of $161.30 million during the quarter, compared to analysts’ expectations of $160.02 million. During the same quarter in the previous year, the firm posted $0.18 EPS. The firm’s revenue was up 13.2% compared to the same quarter last year. On average, equities research analysts forecast that RealPage, Inc. will post $0.92 earnings per share for the current fiscal year.
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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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