King Luther Capital Management Corp lifted its position in shares of RealPage Inc (NASDAQ:RP) by 7.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,178,321 shares of the software maker’s stock after purchasing an additional 77,328 shares during the period. King Luther Capital Management Corp owned 1.25% of RealPage worth $77,651,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RP. FNY Investment Advisers LLC bought a new stake in RealPage in the third quarter worth about $131,000. Price Capital Management Inc. bought a new stake in RealPage in the third quarter worth about $132,000. First Manhattan Co. raised its position in RealPage by 78.9% in the second quarter. First Manhattan Co. now owns 3,400 shares of the software maker’s stock worth $187,000 after acquiring an additional 1,500 shares during the period. Engineers Gate Manager LP bought a new stake in RealPage in the second quarter worth about $204,000. Finally, Parametrica Management Ltd bought a new stake in RealPage in the third quarter worth about $210,000. 83.79% of the stock is currently owned by institutional investors.
In related news, major shareholder Seren Capital, Ltd. sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 26th. The shares were sold at an average price of $64.63, for a total transaction of $12,926,000.00. Following the completion of the transaction, the insider now owns 14,721,447 shares of the company’s stock, valued at $951,447,119.61. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Alfred R. Berkeley III sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $60.60, for a total transaction of $60,600.00. Following the transaction, the director now directly owns 34,881 shares of the company’s stock, valued at approximately $2,113,788.60. The disclosure for this sale can be found here. Insiders sold 1,883,109 shares of company stock valued at $111,416,765 in the last quarter. Corporate insiders own 24.91% of the company’s stock.
Several analysts have commented on RP shares. Zacks Investment Research raised shares of RealPage from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research report on Wednesday, September 19th. Morgan Stanley set a $63.00 price objective on shares of RealPage and gave the stock a “buy” rating in a research report on Friday, November 2nd. Royal Bank of Canada reiterated a “hold” rating and issued a $62.00 target price on shares of RealPage in a research note on Friday, November 2nd. BidaskClub downgraded shares of RealPage from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 11th. Finally, KeyCorp reiterated an “overweight” rating and issued a $72.00 target price (down previously from $84.00) on shares of RealPage in a research note on Friday, September 14th. Eight investment analysts have rated the stock with a buy rating, RealPage presently has an average rating of “Buy” and a consensus target price of $63.00.
RP opened at $50.41 on Wednesday. The stock has a market capitalization of $4.84 billion, a PE ratio of 140.03 and a beta of 1.36. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.83 and a quick ratio of 0.83. RealPage Inc has a twelve month low of $42.90 and a twelve month high of $66.25.
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 consensus estimate of $0.24 by $0.03. The firm had revenue of $224.95 million during the quarter, compared to the consensus estimate of $221.33 million. RealPage had a net margin of 0.91% and a return on equity of 10.55%. The company’s revenue was up 33.1% on a year-over-year basis. During the same quarter last year, the company earned $0.22 earnings per share. On average, equities research analysts anticipate that RealPage Inc will post 1.06 EPS for the current fiscal year.
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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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