Edgestream Partners L.P. Sells 3,919 Shares of Roper Technologies, Inc. (NYSE:ROP)

Edgestream Partners L.P. cut its position in shares of Roper Technologies, Inc. (NYSE:ROP) by 56.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,010 shares of the industrial products company’s stock after selling 3,919 shares during the period. Edgestream Partners L.P.’s holdings in Roper Technologies were worth $1,697,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in ROP. New Covenant Trust Company N.A. bought a new stake in Roper Technologies during the 1st quarter valued at $25,000. Rise Advisors LLC bought a new position in Roper Technologies in the first quarter worth about $27,000. OFI Invest Asset Management bought a new position in Roper Technologies in the first quarter worth about $29,000. Versant Capital Management Inc lifted its position in shares of Roper Technologies by 58.8% during the second 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 last quarter. Finally, Valley Wealth Managers Inc. bought a new stake in shares of Roper Technologies in the 2nd quarter valued at about $31,000. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ROP shares. Wolfe Research cut Roper Technologies from an “outperform” rating to a “peer perform” rating in a research report on Thursday, June 13th. Barclays boosted their price target on Roper Technologies from $611.00 to $625.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Jefferies Financial Group increased their price objective on shares of Roper Technologies from $625.00 to $635.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Truist Financial reissued a “buy” rating and set a $660.00 target price on shares of Roper Technologies in a research report on Tuesday, August 27th. Finally, Robert W. Baird raised shares of Roper Technologies from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $617.00 to $635.00 in a report on Thursday, July 25th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $616.00.

Insider Activity

In other Roper Technologies news, Director Robert D. Johnson sold 140 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $550.34, for a total transaction of $77,047.60. Following the transaction, the director now directly owns 5,909 shares of the company’s stock, valued at approximately $3,251,959.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.87% of the company’s stock.

Roper Technologies Stock Up 2.0 %

Shares of Roper Technologies stock opened at $560.86 on Friday. Roper Technologies, Inc. has a 52-week low of $474.46 and a 52-week high of $579.10. The company has a 50 day moving average of $547.92 and a 200 day moving average of $545.22. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $60.12 billion, a P/E ratio of 40.70, a P/E/G ratio of 2.92 and a beta of 1.02.

Roper Technologies (NYSE:ROP) last issued its earnings results on Wednesday, July 24th. The industrial products company reported $4.48 earnings per share for the quarter, topping the consensus estimate of $4.46 by $0.02. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. Roper Technologies had a return on equity of 10.77% and a net margin of 22.14%. As a group, research analysts forecast that Roper Technologies, Inc. will post 18.16 EPS for the current fiscal year.

Roper Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Tuesday, October 8th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend is Tuesday, October 8th. Roper Technologies’s payout ratio is currently 21.77%.

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.