Zacks Investment Research Upgrades RealPage (RP) to Buy

RealPage (NASDAQ:RP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage currently has a $58.00 target price on the software maker’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 13.66% from the stock’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. “

A number of other research firms have also recently issued reports on RP. BidaskClub raised shares of RealPage from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 5th. KeyCorp reaffirmed an “overweight” rating and issued a $72.00 price target (down previously from $84.00) on shares of RealPage in a research report on Friday, September 14th. Royal Bank of Canada raised their price target on shares of RealPage to $64.00 and gave the company a “sector perform” rating in a research report on Friday, August 3rd. Finally, Morgan Stanley set a $63.00 price target on shares of RealPage and gave the company a “buy” rating in a research report on Friday, November 2nd. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. RealPage currently has a consensus rating of “Buy” and an average target price of $63.00.

RealPage stock traded down $2.07 during trading hours on Thursday, reaching $51.03. 1,091,582 shares of the company’s stock were exchanged, compared to its average volume of 926,561. The company has a market cap of $5.12 billion, a P/E ratio of 141.75 and a beta of 1.32. The company has a current ratio of 0.83, a quick ratio of 0.96 and a debt-to-equity ratio of 0.27. RealPage has a twelve month low of $43.00 and a twelve month high of $66.25.

RealPage (NASDAQ:RP) last released its quarterly earnings data on Thursday, November 1st. The software maker reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.03. The company had revenue of $224.95 million for the quarter, compared to analysts’ expectations of $221.33 million. RealPage had a net margin of 0.91% and a return on equity of 10.55%. The business’s revenue was up 33.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.22 EPS. Equities research analysts forecast that RealPage will post 1.06 EPS for the current fiscal year.

In other RealPage news, CEO Stephen T. Winn sold 75,192 shares of RealPage stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $60.75, for a total transaction of $4,567,914.00. Following the transaction, the chief executive officer now owns 1,336,783 shares of the company’s stock, valued at approximately $81,209,567.25. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO W Bryan Hill sold 8,000 shares of RealPage stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $58.17, for a total transaction of $465,360.00. Following the transaction, the chief financial officer now directly owns 176,341 shares in the company, valued at approximately $10,257,755.97. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,448,912 shares of company stock worth $151,645,875. 24.91% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of RP. Trexquant Investment LP purchased a new stake in shares of RealPage during the 3rd quarter worth approximately $252,000. Massmutual Trust Co. FSB ADV increased its stake in shares of RealPage by 9.6% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 12,099 shares of the software maker’s stock worth $797,000 after purchasing an additional 1,062 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of RealPage by 2.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 715,524 shares of the software maker’s stock worth $47,152,000 after purchasing an additional 20,254 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of RealPage by 7.1% during the 3rd quarter. Janus Henderson Group PLC now owns 3,271,279 shares of the software maker’s stock worth $215,577,000 after purchasing an additional 217,160 shares during the last quarter. Finally, Piedmont Investment Advisors Inc. purchased a new stake in shares of RealPage during the 3rd quarter worth approximately $341,000. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

RealPage Company Profile

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 for accounting, maintenance and work order management, marketing, spend management, portal services, and screening and payment solutions.

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