CIBC Private Wealth Group LLC Cuts Stock Position in Roper Technologies, Inc. (NYSE:ROP)

CIBC Private Wealth Group LLC decreased its position in shares of Roper Technologies, Inc. (NYSE:ROP) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 620,396 shares of the industrial products company’s stock after selling 18,294 shares during the period. CIBC Private Wealth Group LLC owned 0.58% of Roper Technologies worth $316,588,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ROP. Vanguard Group Inc. boosted its position in shares of Roper Technologies by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 10,575,103 shares of the industrial products company’s stock worth $5,497,467,000 after purchasing an additional 72,503 shares in the last quarter. State Street Corp raised its stake in Roper Technologies by 2.9% in the third quarter. State Street Corp now owns 4,730,427 shares of the industrial products company’s stock valued at $2,632,199,000 after buying an additional 132,575 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Roper Technologies by 2.1% in the third quarter. Geode Capital Management LLC now owns 2,447,026 shares of the industrial products company’s stock worth $1,357,162,000 after acquiring an additional 51,131 shares in the last quarter. Norges Bank purchased a new stake in shares of Roper Technologies during the fourth quarter worth about $914,052,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Roper Technologies by 54.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,022,665 shares of the industrial products company’s stock valued at $531,633,000 after acquiring an additional 360,632 shares in the last quarter. 93.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. TD Cowen raised shares of Roper Technologies from a “hold” rating to a “buy” rating and boosted their target price for the stock from $535.00 to $615.00 in a research report on Tuesday, January 28th. Oppenheimer raised their target price on Roper Technologies from $630.00 to $640.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Stifel Nicolaus assumed coverage on Roper Technologies in a research note on Thursday. They set a “buy” rating and a $685.00 price target on the stock. Robert W. Baird set a $665.00 price target on shares of Roper Technologies in a report on Friday, January 31st. Finally, Barclays lowered their price target 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $629.18.

Insider Transactions at Roper Technologies

In other Roper Technologies news, Director Richard F. Wallman sold 351 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 20,187 shares in the company, valued at approximately $11,612,571.75. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Brandon L. Cross sold 750 shares of Roper Technologies stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $577.83, for a total transaction of $433,372.50. Following the completion of the sale, the vice president now owns 1,329 shares in the company, valued at approximately $767,936.07. This trade represents a 36.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,101 shares of company stock valued at $4,712,045 in the last three months. 0.87% of the stock is currently owned by company insiders.

Roper Technologies Price Performance

NYSE:ROP opened at $582.64 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.35. Roper Technologies, Inc. has a 52 week low of $499.47 and a 52 week high of $595.17. The stock’s 50-day moving average price is $570.85 and its 200-day moving average price is $553.71. The stock has a market capitalization of $62.57 billion, a PE ratio of 40.63, a price-to-earnings-growth ratio of 2.77 and a beta of 1.06.

Roper Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Friday, April 4th will be given a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Friday, April 4th. Roper Technologies’s dividend payout ratio (DPR) is presently 23.01%.

About Roper Technologies

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.