RPX Corporation (RPXC) Stock Rating Reaffirmed by Robert W. Baird
Robert W. Baird restated their buy rating on shares of RPX Corporation (NASDAQ:RPXC) in a research note published on Wednesday morning. The brokerage currently has a $15.00 target price on the business services provider’s stock.
Several other research firms have also issued reports on RPXC. Zacks Investment Research lowered RPX Corporation from a buy rating to a hold rating in a report on Wednesday, October 4th. Barclays PLC upped their target price on RPX Corporation from $12.00 to $13.00 and gave the company an underweight rating in a report on Tuesday, October 31st. Finally, BidaskClub lowered RPX Corporation from a sell rating to a strong sell rating in a report on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $14.00.
RPX Corporation (NASDAQ:RPXC) traded up $0.03 during mid-day trading on Wednesday, hitting $13.04. The stock had a trading volume of 155,535 shares, compared to its average volume of 190,288. The company has a market capitalization of $645.82, a price-to-earnings ratio of 26.61 and a beta of 1.41. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.17. RPX Corporation has a 52 week low of $8.98 and a 52 week high of $15.15.
RPX Corporation (NASDAQ:RPXC) last released its earnings results on Monday, October 30th. The business services provider reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.05. The company had revenue of $85.70 million during the quarter, compared to analyst estimates of $82.70 million. RPX Corporation had a return on equity of 5.22% and a net margin of 5.53%. RPX Corporation’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 earnings per share. equities research analysts anticipate that RPX Corporation will post 0.53 earnings per share for the current year.
The business also recently announced a Not Available dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Monday, November 20th will be given a dividend of $0.05 per share. The ex-dividend date is Friday, November 17th.
In other RPX Corporation news, CFO David James Anderson sold 5,000 shares of the stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $12.98, for a total transaction of $64,900.00. Following the sale, the chief financial officer now owns 12,756 shares in the company, valued at $165,572.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Robert H. Heath sold 15,000 shares of the stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $12.83, for a total value of $192,450.00. Following the completion of the sale, the executive vice president now owns 60,529 shares in the company, valued at approximately $776,587.07. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,560 shares of company stock worth $1,030,632. Company insiders own 3.52% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its position in RPX Corporation by 17.0% during the first quarter. Dimensional Fund Advisors LP now owns 4,131,232 shares of the business services provider’s stock valued at $49,575,000 after purchasing an additional 601,694 shares in the last quarter. Vanguard Group Inc. raised its position in RPX Corporation by 4.6% during the first quarter. Vanguard Group Inc. now owns 3,823,451 shares of the business services provider’s stock valued at $45,881,000 after purchasing an additional 167,421 shares in the last quarter. Geode Capital Management LLC raised its position in RPX Corporation by 6.9% during the first quarter. Geode Capital Management LLC now owns 948,574 shares of the business services provider’s stock valued at $11,382,000 after purchasing an additional 61,198 shares in the last quarter. AQR Capital Management LLC raised its position in RPX Corporation by 2.3% during the first quarter. AQR Capital Management LLC now owns 502,864 shares of the business services provider’s stock valued at $6,034,000 after purchasing an additional 11,544 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in RPX Corporation by 73.5% during the first quarter. Goldman Sachs Group Inc. now owns 440,753 shares of the business services provider’s stock valued at $5,289,000 after purchasing an additional 186,739 shares in the last quarter. Institutional investors own 88.44% of the company’s stock.
RPX Corporation Company Profile
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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