RealPage (RP) Raised to Buy at BidaskClub
RealPage (NASDAQ:RP) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Thursday.
Other equities research analysts have also issued research reports about the company. Zacks Investment Research raised RealPage from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Wednesday. Stephens raised their price target on RealPage from $50.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, December 29th. Morgan Stanley initiated coverage on RealPage in a research report on Monday, November 20th. They set an “equal weight” rating and a $48.00 price target on the stock. Finally, Benchmark raised their price target on RealPage from $43.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $48.13.
RealPage (RP) traded up $0.65 during trading hours on Thursday, reaching $48.45. The company’s stock had a trading volume of 382,796 shares, compared to its average volume of 466,041. RealPage has a 1 year low of $28.00 and a 1 year high of $48.60. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $4,000.00, a price-to-earnings ratio of 138.43 and a beta of 1.09.
In related news, EVP William P. Chaney sold 1,000 shares of the stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $45.00, for a total transaction of $45,000.00. Following the completion of the transaction, the executive vice president now directly owns 172,904 shares in the company, valued at $7,780,680. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Seren Capital, Ltd. sold 188,601 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $43.57, for a total value of $8,217,345.57. Following the transaction, the insider now owns 17,815,796 shares of the company’s stock, valued at $776,234,231.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,643,467 shares of company stock valued at $118,207,199. 30.31% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Janus Henderson Group PLC bought a new position in RealPage in the second quarter valued at approximately $107,795,000. Royal Bank of Canada grew its stake in RealPage by 89,197.4% in the second quarter. Royal Bank of Canada now owns 948,338 shares of the software maker’s stock valued at $34,092,000 after purchasing an additional 947,276 shares in the last quarter. Stockbridge Partners LLC grew its stake in RealPage by 26.2% in the second quarter. Stockbridge Partners LLC now owns 3,806,256 shares of the software maker’s stock valued at $136,835,000 after purchasing an additional 790,297 shares in the last quarter. Renaissance Technologies LLC grew its stake in RealPage by 74.0% in the second quarter. Renaissance Technologies LLC now owns 1,378,538 shares of the software maker’s stock valued at $49,558,000 after purchasing an additional 586,144 shares in the last quarter. Finally, Contour Asset Management LLC bought a new position in RealPage in the second quarter valued at approximately $16,044,000. Institutional investors and hedge funds own 73.58% of the company’s stock.
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RealPage Company Profile
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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