RealPage, Inc. (RP) Posts Quarterly Earnings Results, Meets Expectations
RealPage, Inc. (NASDAQ:RP) announced its earnings results on Thursday. The software maker reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22, Bloomberg Earnings reports. The company had revenue of $169.76 million for the quarter, compared to analysts’ expectations of $170.73 million. RealPage had a return on equity of 9.89% and a net margin of 4.52%. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.20 earnings per share. RealPage updated its Q4 guidance to $0.25-0.26 EPS and its FY17 guidance to $0.91-0.92 EPS.
Shares of RealPage (RP) traded up $0.65 on Friday, hitting $44.65. The stock had a trading volume of 800,865 shares, compared to its average volume of 389,162. The firm has a market capitalization of $3,612.00, a price-to-earnings ratio of 79.46 and a beta of 1.09.
Several brokerages have recently commented on RP. Zacks Investment Research upgraded RealPage from a “sell” rating to a “hold” rating in a report on Tuesday, September 5th. BidaskClub upgraded RealPage from a “hold” rating to a “buy” rating in a report on Saturday, September 2nd. Benchmark Co. increased their target price on RealPage from $43.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday. Royal Bank Of Canada reaffirmed a “hold” rating and set a $42.00 price target on shares of RealPage in a research note on Monday, September 11th. Finally, KeyCorp assumed coverage on RealPage in a research note on Thursday, September 7th. They set an “overweight” rating and a $50.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $43.14.
In other RealPage news, EVP William P. Chaney sold 15,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $41.30, for a total value of $619,500.00. Following the completion of the transaction, the executive vice president now owns 196,339 shares of the company’s stock, valued at $8,108,800.70. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO W Bryan Hill sold 8,000 shares of the firm’s stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $42.09, for a total transaction of $336,720.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,990,789 shares of company stock valued at $80,339,434. Corporate insiders own 33.24% of the company’s stock.
RealPage, Inc is a provider of technology to the real estate industry, helping owners, managers and investors. The Company’s property management solutions are referred to as Enterprise Resource Planning systems. Its on demand platform provides a single point of access and a repository of real-time lease transaction data, including prospect, renter and property data.
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