RealPage, Inc. (RP) Downgraded by Zacks Investment Research to “Sell”
Zacks Investment Research downgraded shares of RealPage, Inc. (NASDAQ:RP) from a hold rating to a sell rating in a research note published on Wednesday.
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. “
Several other research firms have also recently commented on RP. Deutsche Bank AG reissued a buy rating and issued a $42.00 target price (up from $40.00) on shares of RealPage in a research note on Tuesday, July 18th. KeyCorp assumed coverage on RealPage in a research note on Thursday, September 7th. They issued an overweight rating and a $50.00 target price for the company. Royal Bank Of Canada reissued a hold rating and issued a $42.00 target price on shares of RealPage in a research note on Monday, September 11th. BidaskClub raised RealPage from a hold rating to a buy rating in a research note on Saturday, September 2nd. Finally, Stephens reissued an overweight rating and issued a $47.00 target price (up from $42.00) on shares of RealPage in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. RealPage has a consensus rating of Buy and an average target price of $46.33.
RealPage (NASDAQ:RP) traded down $0.60 on Wednesday, hitting $44.05. 689,565 shares of the stock were exchanged, compared to its average volume of 542,207. RealPage has a 12-month low of $27.15 and a 12-month high of $45.10. The stock has a market cap of $3,650.84, a price-to-earnings ratio of 80.09 and a beta of 1.09. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.87 and a quick ratio of 1.87.
RealPage (NASDAQ:RP) last released its quarterly earnings results on Thursday, November 2nd. The software maker reported $0.22 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.22. RealPage had a return on equity of 5.39% and a net margin of 4.04%. The firm had revenue of $169.76 million during the quarter, compared to analysts’ expectations of $170.73 million. During the same period last year, the firm posted $0.20 EPS. The business’s revenue was up 14.9% on a year-over-year basis. research analysts forecast that RealPage will post 0.57 earnings per share for the current year.
In other news, Director Alfred R. Berkeley III sold 3,500 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $40.30, for a total value of $141,050.00. Following the sale, the director now directly owns 45,038 shares in the company, valued at $1,815,031.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO W Bryan Hill sold 8,000 shares of the company’s stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $42.09, for a total value of $336,720.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,642,119 shares of company stock worth $66,698,588. Corporate insiders own 33.24% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its position in RealPage by 35.5% during the third quarter. Wells Fargo & Company MN now owns 467,705 shares of the software maker’s stock worth $18,662,000 after buying an additional 122,526 shares during the last quarter. Legal & General Group Plc increased its position in RealPage by 17.8% during the third quarter. Legal & General Group Plc now owns 25,759 shares of the software maker’s stock worth $1,031,000 after buying an additional 3,901 shares during the last quarter. Eagle Asset Management Inc. increased its position in RealPage by 2.6% during the third quarter. Eagle Asset Management Inc. now owns 2,505,949 shares of the software maker’s stock worth $101,365,000 after buying an additional 63,354 shares during the last quarter. American International Group Inc. increased its position in RealPage by 8.1% during the third quarter. American International Group Inc. now owns 39,358 shares of the software maker’s stock worth $1,570,000 after buying an additional 2,943 shares during the last quarter. Finally, TimesSquare Capital Management LLC acquired a new position in RealPage during the third quarter worth approximately $7,577,000. Institutional investors and hedge funds own 70.18% of the company’s stock.
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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