RealPage (RP) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of RealPage (NASDAQ:RP) from a hold rating to a buy rating in a research note released on Thursday. They currently have $58.00 price target on the software maker’s stock.

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 equities research analysts have also weighed in on the stock. Morgan Stanley set a $63.00 target price on shares of RealPage and gave the stock a buy rating in a report on Friday, November 2nd. Royal Bank of Canada reissued a hold rating and set a $62.00 target price on shares of RealPage in a report on Friday, November 2nd. BidaskClub lowered shares of RealPage from a strong-buy rating to a buy rating in a report on Thursday, October 11th. Finally, KeyCorp restated 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. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. RealPage presently has a consensus rating of Buy and a consensus target price of $63.00.

RP traded down $2.07 during trading on Thursday, reaching $51.03. 1,091,500 shares of the company’s stock were exchanged, compared to its average volume of 663,991. RealPage has a one year low of $43.00 and a one year high of $66.25. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market capitalization of $4.84 billion, a price-to-earnings ratio of 141.75 and a beta of 1.32.

RealPage (NASDAQ:RP) last posted its earnings results on Thursday, November 1st. The software maker reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.03. RealPage had a net margin of 0.91% and a return on equity of 12.04%. The firm had revenue of $224.95 million for the quarter, compared to analyst estimates of $221.33 million. During the same period in the previous year, the firm posted $0.22 EPS. The company’s revenue for the quarter was up 33.1% compared to the same quarter last year. As a group, equities research analysts predict that RealPage will post 1.06 EPS for the current year.

In other news, CFO W Bryan Hill sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $58.17, for a total value of $465,360.00. Following the transaction, the chief financial officer now owns 176,341 shares in the company, valued at approximately $10,257,755.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Stephen T. Winn sold 494,968 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $61.05, for a total transaction of $30,217,796.40. Following the completion of the transaction, the chairman now owns 1,336,783 shares in the company, valued at approximately $81,610,602.15. The disclosure for this sale can be found here. Insiders sold a total of 2,448,912 shares of company stock worth $151,645,875 in the last 90 days. Corporate insiders own 24.91% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of RP. Principal Financial Group Inc. lifted its position in shares of RealPage by 5.7% during the 1st quarter. Principal Financial Group Inc. now owns 50,945 shares of the software maker’s stock valued at $2,624,000 after acquiring an additional 2,735 shares during the period. UBS Group AG lifted its position in shares of RealPage by 17.5% during the 1st quarter. UBS Group AG now owns 18,581 shares of the software maker’s stock valued at $956,000 after acquiring an additional 2,762 shares during the period. LPL Financial LLC acquired a new position in shares of RealPage during the 1st quarter valued at $280,000. Allianz Asset Management GmbH lifted its position in shares of RealPage by 190.8% during the 1st quarter. Allianz Asset Management GmbH now owns 409,339 shares of the software maker’s stock valued at $21,081,000 after acquiring an additional 268,570 shares during the period. Finally, State of Alaska Department of Revenue acquired a new position in shares of RealPage during the 2nd quarter valued at $470,000. Hedge funds and other institutional investors own 81.81% of the company’s stock.

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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