Roper Technologies, Inc. (NYSE:ROP) Shares Sold by Thematics Asset Management

Thematics Asset Management lowered its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 10.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,531 shares of the industrial products company’s stock after selling 4,372 shares during the period. Thematics Asset Management’s holdings in Roper Technologies were worth $20,884,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ROP. New Covenant Trust Company N.A. acquired a new stake in shares of Roper Technologies during the first quarter worth $25,000. Fairscale Capital LLC purchased a new position in Roper Technologies during the second quarter worth approximately $28,000. Fortitude Family Office LLC acquired a new position in shares of Roper Technologies in the 3rd quarter valued at $28,000. Versant Capital Management Inc grew its stake in shares of Roper Technologies by 58.8% during the 2nd quarter. Versant Capital Management Inc now owns 54 shares of the industrial products company’s stock valued at $30,000 after buying an additional 20 shares during the period. Finally, Valley Wealth Managers Inc. acquired a new stake in shares of Roper Technologies during the 2nd quarter worth $31,000. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Insiders Place Their Bets

In related news, Director Richard F. Wallman sold 1,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $550.00, for a total value of $550,000.00. Following the completion of the transaction, the director now directly owns 32,955 shares of the company’s stock, valued at $18,125,250. This represents a 2.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.87% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ROP. Robert W. Baird boosted their price target on Roper Technologies from $635.00 to $652.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Jefferies Financial Group boosted their price objective on shares of Roper Technologies from $625.00 to $635.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Mizuho lifted their target price on shares of Roper Technologies from $530.00 to $565.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Royal Bank of Canada reduced their price objective on Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Truist Financial reissued a “buy” rating and set a $665.00 price target (up from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $620.80.

Roper Technologies Stock Performance

NYSE:ROP traded down $2.55 during trading hours on Tuesday, reaching $555.39. 60,513 shares of the stock were exchanged, compared to its average volume of 492,687. Roper Technologies, Inc. has a 52 week low of $508.22 and a 52 week high of $579.10. The company has a quick ratio of 0.44, a current ratio of 0.48 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $59.55 billion, a P/E ratio of 40.81, a P/E/G ratio of 2.93 and a beta of 1.03. The firm has a 50 day simple moving average of $552.45 and a 200-day simple moving average of $549.67.

Roper Technologies (NYSE:ROP) last posted its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 EPS for the quarter, beating the consensus estimate of $4.53 by $0.09. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.72 billion. Roper Technologies had a net margin of 21.78% and a return on equity of 10.73%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the business posted $4.32 EPS. As a group, sell-side analysts forecast that Roper Technologies, Inc. will post 18.24 earnings per share for the current fiscal year.

Roper Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be given a dividend of $0.825 per share. The ex-dividend date is Friday, January 3rd. This represents a $3.30 dividend on an annualized basis and a yield of 0.59%. This is a positive change from Roper Technologies’s previous quarterly dividend of $0.75. Roper Technologies’s payout ratio is currently 24.14%.

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.