RealPage (RP) Upgraded to Buy by Zacks Investment Research

RealPage (NASDAQ:RP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm presently has a $50.00 target price on the software maker’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 10.38% from the company’s current price.

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. “

A number of other equities analysts have also commented on the company. Stephens increased their price target on RealPage from $50.00 to $54.00 and gave the company an “overweight” rating in a research note on Friday, December 29th. BidaskClub lowered RealPage from a “buy” rating to a “hold” rating in a research note on Thursday, December 14th. Morgan Stanley began coverage on RealPage in a research note on Monday, November 20th. They issued an “equal weight” rating and a $48.00 price objective for the company. Benchmark raised their price objective on RealPage from $43.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, November 1st. Finally, 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. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $47.88.

RealPage (NASDAQ:RP) traded down $0.05 during trading hours on Thursday, hitting $45.30. The company had a trading volume of 487,700 shares, compared to its average volume of 497,800. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.06 and a quick ratio of 1.06. RealPage has a 12-month low of $28.00 and a 12-month high of $46.80. The stock has a market capitalization of $3,758.58, a PE ratio of 129.43 and a beta of 1.09.

RealPage (NASDAQ:RP) last released its earnings results on Thursday, November 2nd. The software maker reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. RealPage had a return on equity of 9.51% and a net margin of 4.52%. The firm had revenue of $169.76 million during the quarter, compared to analysts’ expectations of $170.73 million. During the same quarter last year, the business posted $0.20 earnings per share. The firm’s revenue was up 14.9% on a year-over-year basis. research analysts predict that RealPage will post 0.57 EPS for the current year.

In other RealPage news, EVP Ashley Chaffin Glover sold 10,000 shares of the firm’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $44.30, for a total transaction of $443,000.00. Following the transaction, the executive vice president now directly owns 83,854 shares in the company, valued at approximately $3,714,732.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William P. Chaney sold 1,000 shares of the firm’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the transaction, the executive vice president now owns 172,904 shares in the company, valued at $7,780,680. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,266,402 shares of company stock worth $101,022,513. Company insiders own 30.31% of the company’s stock.

Several large investors have recently made changes to their positions in RP. Janus Henderson Group PLC purchased a new position in shares of RealPage in the 2nd quarter valued at $107,795,000. Royal Bank of Canada increased its holdings in shares of RealPage by 89,197.4% in the 2nd quarter. Royal Bank of Canada now owns 948,338 shares of the software maker’s stock valued at $34,092,000 after acquiring an additional 947,276 shares during the period. Stockbridge Partners LLC increased its holdings in shares of RealPage by 26.2% in the 2nd quarter. Stockbridge Partners LLC now owns 3,806,256 shares of the software maker’s stock valued at $136,835,000 after acquiring an additional 790,297 shares during the period. Renaissance Technologies LLC increased its holdings in shares of RealPage by 74.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,378,538 shares of the software maker’s stock valued at $49,558,000 after acquiring an additional 586,144 shares during the period. Finally, Contour Asset Management LLC purchased a new position in shares of RealPage in the 2nd quarter valued at $16,044,000. Institutional investors and hedge funds own 73.58% of the company’s stock.

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About RealPage

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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