RealPage (NASDAQ:RP) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of RealPage (NASDAQ:RP) from a buy rating to a hold rating in a report published on Wednesday, Zacks.com reports.

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 brokerages have also weighed in on RP. Keefe, Bruyette & Woods initiated coverage on RealPage in a research report on Tuesday. They set an outperform rating and a $74.00 price objective for the company. BidaskClub upgraded Zebra Technologies from a hold rating to a buy rating in a research report on Saturday, July 6th. ValuEngine upgraded ZIX from a buy rating to a strong-buy rating in a research report on Saturday, May 4th. Finally, DA Davidson initiated coverage on BRT Apartments in a research report on Thursday, March 28th. They set a buy rating and a $16.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $66.00.

Shares of RP stock opened at $64.57 on Wednesday. RealPage has a 52-week low of $42.90 and a 52-week high of $66.25. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market cap of $6.12 billion, a price-to-earnings ratio of 59.86 and a beta of 1.40. The business has a fifty day simple moving average of $59.26.

RealPage (NASDAQ:RP) last issued its quarterly earnings data on Monday, May 6th. The software maker reported $0.28 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.28. The firm had revenue of $234.30 million during the quarter, compared to analyst estimates of $234.16 million. RealPage had a return on equity of 9.48% and a net margin of 3.89%. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.37 earnings per share. Equities analysts anticipate that RealPage will post 1.26 earnings per share for the current fiscal year.

In related news, CEO Stephen T. Winn sold 100,000 shares of the stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $57.18, for a total value of $5,718,000.00. Following the completion of the transaction, the chief executive officer now owns 1,217,538 shares of the company’s stock, valued at approximately $69,618,822.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Seren Capital, Ltd. sold 200,000 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $59.90, for a total transaction of $11,980,000.00. Following the completion of the transaction, the insider now directly owns 10,165,109 shares of the company’s stock, valued at approximately $608,890,029.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 981,793 shares of company stock valued at $57,315,347. 17.05% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA lifted its stake in RealPage by 6.6% in the first quarter. BNP Paribas Arbitrage SA now owns 4,229 shares of the software maker’s stock worth $257,000 after purchasing an additional 261 shares during the last quarter. Capital Insight Partners LLC increased its position in shares of RealPage by 1.7% during the second quarter. Capital Insight Partners LLC now owns 18,545 shares of the software maker’s stock worth $1,091,000 after acquiring an additional 316 shares during the period. California State Teachers Retirement System increased its position in shares of RealPage by 0.3% during the first quarter. California State Teachers Retirement System now owns 113,160 shares of the software maker’s stock worth $6,868,000 after acquiring an additional 381 shares during the period. Simmons Bank increased its position in shares of RealPage by 7.4% during the first quarter. Simmons Bank now owns 7,300 shares of the software maker’s stock worth $443,000 after acquiring an additional 500 shares during the period. Finally, MML Investors Services LLC increased its position in shares of RealPage by 9.7% during the fourth quarter. MML Investors Services LLC now owns 7,928 shares of the software maker’s stock worth $382,000 after acquiring an additional 702 shares during the period. 88.24% of the stock is owned by institutional investors and hedge funds.

About RealPage

RealPage, Inc provides software and data analytics for the real estate industry in the United States. It offers OneSite, a property management solution for multi-family, affordable property, rural housing, military housing, senior and student living, and commercial property types; and Propertyware, an on demand property management system for single-family properties, and small and centrally managed multifamily properties.

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