Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of property management software specialist RealPage (Nasdaq: RP) surged as high as 11.5% in intraday trading Monday on lighter than average volume.

So what: After spiking to a high of $34.19 in the late afternoon, the shares quickly retreated and ended up closing the day with a 6.4% gain. Today's extreme volatility didn't come on extraordinarily heavy activity or company-specific news, so Fools shouldn't read too much into the price action.

Now what: RealPage's shares seem just too hot to touch right now. With today's rally, RealPage is now up more than 120% since its August IPO and trades at a rather lofty 90-plus P/E. Analysts expect RealPage to grow profits more than 20% in each of the next five years, but I'd wait on the sidelines until Mr. Market is a lot less excited about those prospects.

Interested in more info on RealPage? Add it to your watchlist.

Fool contributor Brian Pacampara owns no position in any of the companies mentioned. Try any of our Foolish newsletter services free for 30 days.

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