Legal & General Group Plc Buys 841 Shares of RealPage, Inc. (RP)
Legal & General Group Plc increased its stake in RealPage, Inc. (NASDAQ:RP) by 4.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,858 shares of the software maker’s stock after purchasing an additional 841 shares during the quarter. Legal & General Group Plc’s holdings in RealPage were worth $786,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in RP. Ameritas Investment Partners Inc. bought a new stake in RealPage during the 1st quarter worth approximately $163,000. Bessemer Group Inc. lifted its holdings in RealPage by 2.0% during the second quarter. Bessemer Group Inc. now owns 5,000 shares of the software maker’s stock valued at $180,000 after purchasing an additional 100 shares in the last quarter. Gotham Asset Management LLC purchased a new position in RealPage during the first quarter valued at approximately $200,000. UBS Group AG lifted its holdings in RealPage by 28.4% during the first quarter. UBS Group AG now owns 6,018 shares of the software maker’s stock valued at $210,000 after purchasing an additional 1,332 shares in the last quarter. Finally, Amalgamated Bank purchased a new position in RealPage during the first quarter valued at approximately $231,000. 70.49% of the stock is currently owned by institutional investors.
RealPage, Inc. (NASDAQ RP) opened at 41.05 on Wednesday. The company has a 50-day moving average price of $40.93 and a 200 day moving average price of $37.63. RealPage, Inc. has a 52-week low of $23.69 and a 52-week high of $43.65. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 128.28 and a beta of 1.09.
RealPage (NASDAQ:RP) last posted its quarterly earnings results on Wednesday, August 2nd. The software maker reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.01. The firm had revenue of $161.30 million for the quarter, compared to the consensus estimate of $160.02 million. RealPage had a net margin of 4.25% and a return on equity of 10.26%. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period last year, the firm posted $0.18 earnings per share. On average, analysts expect that RealPage, Inc. will post $0.92 earnings per share for the current year.
In related news, EVP Andrew Blount sold 17,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $39.87, for a total value of $697,725.00. Following the transaction, the executive vice president now directly owns 179,857 shares in the company, valued at $7,170,898.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Seren Capital, Ltd. sold 95,760 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $38.98, for a total value of $3,732,724.80. Following the completion of the transaction, the insider now owns 18,486,216 shares in the company, valued at $720,592,699.68. The disclosure for this sale can be found here. Insiders have sold 1,982,789 shares of company stock worth $80,002,714 in the last three months. 33.24% of the stock is currently owned by corporate insiders.
RP has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of RealPage from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. Deutsche Bank AG restated a “buy” rating and set a $42.00 price objective (up from $40.00) on shares of RealPage in a research report on Tuesday, July 18th. KeyCorp started coverage on shares of RealPage in a research note on Thursday, September 7th. They set an “overweight” rating and a $50.00 target price on the stock. Royal Bank Of Canada lifted their target price on shares of RealPage from $38.00 to $42.00 and gave the company a “sector perform” rating in a research note on Thursday, August 3rd. Finally, BidaskClub raised shares of RealPage from a “hold” rating to a “buy” rating in a report on Saturday, September 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. RealPage has a consensus rating of “Buy” and an average price target of $41.29.
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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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