RPX Corporation (NASDAQ:RPXC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “RPX Corporation is a provider of patent risk solutions, offering defensive buying, acquisition syndication, patent intelligence and advisory services. The Company provides a subscription-based patent risk management solution where by acquiring patents it mitigates and manages patent risk. It also provides to its clients access to its proprietary patent market intelligence and data. Its clientele compromise companies that design, make or sell technology-based products and services as well as companies that use technology in their businesses. RPX Corporation is based in San Francisco, California. “

Separately, BidaskClub lowered RPX Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $13.50.

RPX Corporation (RPXC) traded down 0.59% on Wednesday, reaching $13.43. 33,684 shares of the company traded hands. RPX Corporation has a 12 month low of $8.99 and a 12 month high of $15.15. The company has a 50-day moving average price of $12.82 and a 200-day moving average price of $13.13. The company has a market capitalization of $664.79 million, a P/E ratio of 33.49 and a beta of 1.44.

RPX Corporation (NASDAQ:RPXC) last released its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.11 EPS for the quarter, topping the consensus estimate of $0.06 by $0.05. RPX Corporation had a net margin of 6.01% and a return on equity of 5.51%. The business had revenue of $80.40 million during the quarter, compared to analyst estimates of $81.27 million. During the same quarter in the prior year, the firm earned $0.18 earnings per share. The company’s quarterly revenue was down 3.2% on a year-over-year basis. Equities research analysts expect that RPX Corporation will post $0.72 EPS for the current year.

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In related news, Director Shelby W. Bonnie sold 34,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $12.51, for a total transaction of $425,340.00. Following the sale, the director now owns 64,757 shares of the company’s stock, valued at $810,110.07. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Robert H. Heath sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $12.79, for a total value of $127,900.00. Following the completion of the sale, the executive vice president now owns 60,529 shares of the company’s stock, valued at $774,165.91. The disclosure for this sale can be found here. Insiders have sold a total of 86,560 shares of company stock worth $1,094,932 over the last 90 days. 3.52% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of RPXC. Nationwide Fund Advisors raised its stake in shares of RPX Corporation by 14.2% in the 1st quarter. Nationwide Fund Advisors now owns 47,758 shares of the business services provider’s stock worth $573,000 after buying an additional 5,927 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of RPX Corporation by 1.5% in the first quarter. Wells Fargo & Company MN now owns 391,984 shares of the business services provider’s stock valued at $4,704,000 after buying an additional 5,784 shares during the period. Bank of New York Mellon Corp boosted its stake in RPX Corporation by 4.8% during the first quarter. Bank of New York Mellon Corp now owns 252,579 shares of the business services provider’s stock valued at $3,030,000 after buying an additional 11,617 shares in the last quarter. UBS Asset Management Americas Inc. bought a new position in RPX Corporation during the first quarter valued at about $211,000. Finally, Karp Capital Management Corp bought a new position in RPX Corporation during the first quarter valued at about $437,000. 88.05% of the stock is currently owned by institutional investors.

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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