RealPage (NASDAQ:RP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage presently has a $54.00 price target on the software maker’s stock. Zacks Investment Research‘s price target suggests a potential upside of 12.85% from the company’s previous close.
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. Morgan Stanley initiated coverage on RealPage in a report on Monday, November 20th. They issued an “equal weight” rating and a $48.00 target price for the company. BidaskClub upgraded RealPage from a “hold” rating to a “buy” rating in a report on Saturday, October 7th. Royal Bank of Canada restated a “hold” rating and issued a $49.00 target price on shares of RealPage in a report on Wednesday, January 17th. Stephens increased their target price on RealPage from $50.00 to $54.00 and gave the company an “overweight” rating in a report on Friday, December 29th. Finally, Benchmark increased their price objective on RealPage from $43.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $49.25.
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, meeting the Zacks’ consensus estimate of $0.22. The company had revenue of $169.76 million during the quarter, compared to analyst estimates of $170.73 million. RealPage had a return on equity of 9.51% and a net margin of 4.52%. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 earnings per share. sell-side analysts expect that RealPage will post 0.57 EPS for the current fiscal year.
In other RealPage news, EVP William P. Chaney sold 1,000 shares of the stock in a transaction on Friday, December 8th. The shares were sold at an average price of $45.00, for a total transaction of $45,000.00. Following the transaction, the executive vice president now directly owns 172,904 shares of the company’s stock, valued at $7,780,680. The transaction 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 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 $3,714,732.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,643,467 shares of company stock valued at $118,207,199. 30.31% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its position in shares of RealPage by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 257,381 shares of the software maker’s stock valued at $9,252,000 after purchasing an additional 4,565 shares during the last quarter. Legal & General Group Plc grew its position in shares of RealPage by 4.0% in the second quarter. Legal & General Group Plc now owns 21,858 shares of the software maker’s stock valued at $786,000 after purchasing an additional 841 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of RealPage by 10.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,841 shares of the software maker’s stock valued at $102,000 after purchasing an additional 272 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of RealPage by 146.4% in the second quarter. Principal Financial Group Inc. now owns 33,050 shares of the software maker’s stock valued at $1,189,000 after purchasing an additional 19,637 shares during the last quarter. Finally, Swiss National Bank grew its position in shares of RealPage by 2.5% in the second quarter. Swiss National Bank now owns 95,100 shares of the software maker’s stock valued at $3,419,000 after purchasing an additional 2,300 shares during the last quarter. 73.61% of the stock is currently owned by hedge funds and other institutional investors.
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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