Wedmont Private Capital Decreases Stake in Roper Technologies, Inc. (NYSE:ROP)

Wedmont Private Capital cut its holdings in shares of Roper Technologies, Inc. (NYSE:ROP) by 2.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,405 shares of the industrial products company’s stock after selling 32 shares during the quarter. Wedmont Private Capital’s holdings in Roper Technologies were worth $706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of ROP. PNC Financial Services Group Inc. grew its stake in shares of Roper Technologies by 5.4% in the third quarter. PNC Financial Services Group Inc. now owns 34,652 shares of the industrial products company’s stock worth $19,282,000 after acquiring an additional 1,789 shares during the period. Synovus Financial Corp boosted its holdings in Roper Technologies by 19.6% in the third quarter. Synovus Financial Corp now owns 5,867 shares of the industrial products company’s stock worth $3,265,000 after purchasing an additional 961 shares during the last quarter. Douglas Lane & Associates LLC grew its position in Roper Technologies by 18.9% in the 4th quarter. Douglas Lane & Associates LLC now owns 109,656 shares of the industrial products company’s stock worth $57,005,000 after purchasing an additional 17,466 shares during the period. Citigroup Inc. raised its stake in 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 buying an additional 28,555 shares during 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 buying an additional 42,016 shares during the period. 93.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ROP. Barclays reduced their price objective on Roper Technologies from $569.00 to $562.00 and set an “underweight” rating for the company in a research report on Wednesday, January 8th. Royal Bank of Canada dropped their price objective on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Robert W. Baird upped their target price on shares of Roper Technologies from $635.00 to $652.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Mizuho boosted their price objective on shares of Roper Technologies from $530.00 to $565.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $665.00 target price (up from $660.00) on shares of Roper Technologies in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $623.33.

Roper Technologies Price Performance

NYSE:ROP opened at $510.69 on Wednesday. The stock has a market cap of $54.76 billion, a PE ratio of 37.36, a P/E/G ratio of 2.84 and a beta of 1.04. 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 business’s 50-day simple moving average is $541.68 and its two-hundred day simple moving average is $546.68. Roper Technologies, Inc. has a 52 week low of $499.47 and a 52 week high of $580.09.

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, topping analysts’ consensus estimates of $4.53 by $0.09. Roper Technologies had a return on equity of 10.73% and a net margin of 21.78%. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the firm earned $4.32 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. As a group, analysts forecast that Roper Technologies, Inc. will post 18.26 EPS for the current fiscal year.

Roper Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be paid a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 0.65%. This is a boost from Roper Technologies’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, January 3rd. Roper Technologies’s dividend payout ratio (DPR) is presently 24.14%.

Insiders Place Their Bets

In other news, Director Richard F. Wallman sold 1,000 shares of Roper Technologies stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $550.00, for a total value of $550,000.00. Following the sale, the director now directly owns 32,955 shares of the company’s stock, valued at approximately $18,125,250. The trade was a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.87% of the company’s stock.

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.