Sei Investments Co. Buys 59,823 Shares of RealPage, Inc. (NASDAQ:RP)
Sei Investments Co. increased its stake in shares of RealPage, Inc. (NASDAQ:RP) by 34.5% during the second quarter, Holdings Channel reports. The fund owned 233,348 shares of the software maker’s stock after buying an additional 59,823 shares during the period. Sei Investments Co.’s holdings in RealPage were worth $8,389,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in RealPage by 4.6% in the first quarter. Vanguard Group Inc. now owns 4,437,066 shares of the software maker’s stock valued at $154,855,000 after buying an additional 197,060 shares during the last quarter. BlackRock Inc. raised its stake in RealPage by 70,939.4% in the first quarter. BlackRock Inc. now owns 3,387,159 shares of the software maker’s stock valued at $118,213,000 after buying an additional 3,382,391 shares during the last quarter. Rothschild Asset Management Inc. raised its stake in RealPage by 5.7% in the second quarter. Rothschild Asset Management Inc. now owns 1,166,020 shares of the software maker’s stock valued at $41,918,000 after buying an additional 62,617 shares during the last quarter. State Street Corp raised its stake in RealPage by 6.4% in the first quarter. State Street Corp now owns 1,033,920 shares of the software maker’s stock valued at $36,081,000 after buying an additional 61,977 shares during the last quarter. Finally, Citadel Advisors LLC raised its stake in RealPage by 1,793.3% in the first quarter. Citadel Advisors LLC now owns 919,565 shares of the software maker’s stock valued at $32,093,000 after buying an additional 870,996 shares during the last quarter. Institutional investors own 67.44% of the company’s stock.
Shares of RealPage, Inc. (NASDAQ:RP) opened at 39.90 on Friday. The firm has a 50-day moving average price of $38.30 and a 200-day moving average price of $35.63. RealPage, Inc. has a 1-year low of $23.69 and a 1-year high of $43.65. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 124.69 and a beta of 1.11.
RealPage (NASDAQ:RP) last announced its quarterly earnings results on Wednesday, August 2nd. The software maker reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.01. RealPage had a return on equity of 10.26% and a net margin of 4.25%. The business had revenue of $161.30 million for the quarter, compared to analyst estimates of $160.02 million. During the same quarter in the prior year, the company posted $0.18 EPS. The company’s quarterly revenue was up 13.2% on a year-over-year basis. Equities analysts forecast that RealPage, Inc. will post $0.93 EPS for the current year.
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RP has been the topic of several recent research reports. Deutsche Bank AG restated a “buy” rating and set a $42.00 price target (up previously from $40.00) on shares of RealPage in a report on Tuesday, July 18th. Royal Bank Of Canada increased their price target on RealPage from $38.00 to $42.00 and gave the company a “sector perform” rating in a report on Thursday, August 3rd. Zacks Investment Research upgraded RealPage from a “sell” rating to a “hold” rating in a report on Wednesday, May 3rd. JMP Securities restated an “outperform” rating and set a $43.00 price target on shares of RealPage in a report on Monday, May 15th. Finally, Stephens restated an “overweight” rating and set a $47.00 price target (up previously from $42.00) on shares of RealPage in a report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. RealPage has an average rating of “Hold” and a consensus price target of $39.83.
In related news, Chairman Stephen T. Winn sold 159,600 shares of the business’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $34.41, for a total value of $5,491,836.00. Following the sale, the chairman now owns 3,789,472 shares in the company, valued at approximately $130,395,731.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Seren Capital, Ltd. sold 95,760 shares of the business’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $34.41, for a total value of $3,295,101.60. Following the completion of the sale, the insider now owns 18,869,256 shares in the company, valued at approximately $649,291,098.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,445,920 shares of company stock worth $52,336,784. 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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