RPX Corporation (NASDAQ:RPXC) announced its quarterly earnings data on Monday. The business services provider reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.05, Bloomberg Earnings reports. The business had revenue of $85.70 million for the quarter, compared to analyst estimates of $82.70 million. RPX Corporation had a return on equity of 5.22% and a net margin of 5.53%. The company’s revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 earnings per share.
RPX Corporation (NASDAQ RPXC) traded up 0.46% during mid-day trading on Wednesday, reaching $13.08. The company had a trading volume of 61,417 shares. RPX Corporation has a 12 month low of $8.98 and a 12 month high of $15.15. The firm’s 50 day moving average price is $13.20 and its 200-day moving average price is $13.30. The company has a market capitalization of $647.46 million, a price-to-earnings ratio of 32.62 and a beta of 1.44.
The business also recently announced a Not Available dividend, which will be paid on Tuesday, December 5th. Investors of record on Monday, November 20th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, November 17th.
RPXC has been the topic of a number of research reports. BidaskClub lowered RPX Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Zacks Investment Research raised RPX Corporation from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Tuesday, August 8th. Robert W. Baird reissued a “buy” rating and issued a $15.00 price objective on shares of RPX Corporation in a report on Wednesday. Finally, Barclays PLC increased their price objective on RPX Corporation from $12.00 to $13.00 and gave the company an “underweight” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $14.00.
In related news, insider Mallun Yen sold 10,000 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $12.92, for a total value of $129,200.00. Following the transaction, the insider now owns 157,560 shares in the company, valued at approximately $2,035,675.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Shelby W. Bonnie sold 34,000 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $12.51, for a total value of $425,340.00. Following the completion of the transaction, the director now owns 64,757 shares in the company, valued at approximately $810,110.07. The disclosure for this sale can be found here. Insiders sold a total of 86,560 shares of company stock worth $1,094,932 in the last 90 days. 3.52% of the stock is currently owned by insiders.
About RPX Corporation
RPX Corporation is engaged in providing an alternative to litigation through its patent risk management services. The Company helps companies reduce patent litigation risk and corporate legal expense through two primary service offerings: patent risk management services and discovery services. It operates through two segments: patent risk management and discovery services.
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