AXQ Capital LP Takes $620,000 Position in Roper Technologies, Inc. (NYSE:ROP)

AXQ Capital LP acquired a new stake in shares of Roper Technologies, Inc. (NYSE:ROP) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,193 shares of the industrial products company’s stock, valued at approximately $620,000.

Several other institutional investors also recently made changes to their positions in ROP. Citigroup Inc. lifted its holdings in shares of Roper Technologies by 17.6% during the 3rd quarter. Citigroup Inc. now owns 190,587 shares of the industrial products company’s stock valued at $106,050,000 after acquiring an additional 28,555 shares in the last quarter. Douglas Lane & Associates LLC lifted its holdings in shares of Roper Technologies by 18.9% during the 4th quarter. Douglas Lane & Associates LLC now owns 109,656 shares of the industrial products company’s stock valued at $57,005,000 after acquiring an additional 17,466 shares in the last quarter. Synovus Financial Corp lifted its holdings in shares of Roper Technologies by 19.6% during the 3rd quarter. Synovus Financial Corp now owns 5,867 shares of the industrial products company’s stock valued at $3,265,000 after acquiring an additional 961 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its holdings in shares of Roper Technologies by 52.5% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 4,938 shares of the industrial products company’s stock valued at $2,747,000 after acquiring an additional 1,699 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Roper Technologies by 8.5% during the 4th quarter. Nordea Investment Management AB now owns 538,678 shares of the industrial products company’s stock valued at $280,113,000 after acquiring an additional 42,016 shares in the last quarter. 93.31% of the stock is owned by hedge funds and other institutional investors.

Roper Technologies Stock Performance

Shares of Roper Technologies stock opened at $572.18 on Friday. The firm has a market cap of $61.44 billion, a PE ratio of 39.90, a price-to-earnings-growth ratio of 2.77 and a beta of 1.06. The firm’s 50-day simple moving average is $564.14 and its 200-day simple moving average is $552.69. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.37 and a current ratio of 0.40. Roper Technologies, Inc. has a 1 year low of $499.47 and a 1 year high of $595.17.

Roper Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Friday, April 4th will be paid a $0.825 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.58%. Roper Technologies’s dividend payout ratio (DPR) is presently 23.01%.

Insider Activity

In related news, Director Richard F. Wallman sold 351 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $575.25, for a total transaction of $201,912.75. Following the completion of the sale, the director now owns 20,187 shares of the company’s stock, valued at $11,612,571.75. This represents a 1.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jason Conley sold 3,000 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $578.05, for a total transaction of $1,734,150.00. Following the sale, the chief financial officer now directly owns 31,522 shares of the company’s stock, valued at approximately $18,221,292.10. This represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,101 shares of company stock worth $4,712,045. 0.87% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ROP. Robert W. Baird set a $665.00 target price on shares of Roper Technologies in a report on Friday, January 31st. Barclays cut their price objective on shares of Roper Technologies from $569.00 to $562.00 and set an “underweight” rating on the stock in a report on Wednesday, January 8th. Oppenheimer boosted their price objective on shares of Roper Technologies from $630.00 to $640.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. TD Cowen upgraded shares of Roper Technologies from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $535.00 to $615.00 in a report on Tuesday, January 28th. Finally, Truist Financial reiterated a “buy” rating and issued a $675.00 price objective (up previously from $665.00) on shares of Roper Technologies in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $623.60.

Roper Technologies Company Profile

Roper Technologies, Inc designs and develops software, and technology enabled products and solutions. It operates through three segments: Application Software, Network Software, and Technology Enabled Products. The Application Software segment offers management, campus solutions, diagnostic and laboratory information management, enterprise software and information solutions, transportation management, financial and compliance management, and cloud-based financial analytics and performance management software; cloud-based software to the property and casualty insurance industry; and software, services, and technologies for foodservice operations.