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 maker RealPage (Nasdaq: RP) area getting crushed today, down by as much as 24%, after the company reported earnings last night.

So what: Revenue in the fourth quarter tallied up to $71.3 million, an increase of 32% over the prior year but short of the market's expectations. Earnings per share came out at $0.10, on target with consensus estimates.

Now what: Guidance came in light, with the upper end of its predicted range of $320 million-$330 million for the year barely catching up with the $329.4 million estimate. The bottom line forecast sang the same song, with the $0.46-$0.49 per share guidance hoping to compare to the $0.49 per share consensus. Yesterday, shares sank by 9% prior to the earnings release for no readily apparent reason, meaning that today's low represented a loss of 31% in just two days.

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