RealPage (RP) Rating Lowered to Hold at Zacks Investment Research

RealPage (NASDAQ:RP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and 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 subject of a number of other research reports. Benchmark lifted their target price on shares of RealPage from $43.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, November 1st. BidaskClub upgraded shares of RealPage from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 10th. Morgan Stanley assumed coverage on shares of RealPage in a research note on Monday, November 20th. They issued an “equal weight” rating and a $48.00 target price for the company. Stephens lifted their target price on shares of RealPage from $50.00 to $54.00 and gave the company an “overweight” rating in a research note on Friday, December 29th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $42.00 target price on shares of RealPage in a research note on Monday, September 11th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. RealPage presently has an average rating of “Buy” and a consensus target price of $48.13.

Shares of RealPage (RP) traded down $0.25 on Tuesday, reaching $46.90. 1,049,500 shares of the company’s stock were exchanged, compared to its average volume of 582,214. The company has a market capitalization of $3,950.00, a PE ratio of 134.00 and a beta of 1.09. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.76. RealPage has a 1 year low of $28.00 and a 1 year high of $47.53.

RealPage (NASDAQ:RP) last posted its earnings results on Thursday, November 2nd. The software maker reported $0.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.22. RealPage had a net margin of 4.52% and a return on equity of 9.51%. The company had revenue of $169.76 million during the quarter, compared to analysts’ expectations of $170.73 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. RealPage’s quarterly revenue was up 14.9% compared to the same quarter last year. analysts expect that RealPage will post 0.57 earnings per share for the current fiscal year.

In related news, Chairman Stephen T. Winn sold 421,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $45.41, for a total value of $19,117,610.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ashley Chaffin Glover sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $44.30, for a total transaction of $443,000.00. Following the completion of the sale, the executive vice president now directly owns 83,854 shares of the company’s stock, valued at approximately $3,714,732.20. The disclosure for this sale can be found here. In the last three months, insiders sold 2,635,467 shares of company stock valued at $117,831,999. 30.31% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Calamos Advisors LLC acquired a new stake in RealPage during the 3rd quarter worth $10,069,000. PNC Financial Services Group Inc. grew its holdings in RealPage by 83.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 139,901 shares of the software maker’s stock worth $5,029,000 after acquiring an additional 63,843 shares during the period. Contour Asset Management LLC acquired a new stake in RealPage during the 2nd quarter worth $16,044,000. BlackRock Inc. grew its holdings in RealPage by 4.8% during the 2nd quarter. BlackRock Inc. now owns 3,550,911 shares of the software maker’s stock worth $127,656,000 after acquiring an additional 163,752 shares during the period. Finally, Castleark Management LLC grew its holdings in RealPage by 146.9% during the 2nd quarter. Castleark Management LLC now owns 396,604 shares of the software maker’s stock worth $14,258,000 after acquiring an additional 235,976 shares during the period. 73.58% of the stock is owned by hedge funds and other institutional investors.

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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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