Corient Private Wealth LP purchased a new stake in shares of Roper Technologies, Inc. (NASDAQ:ROP – Free Report) in the second quarter, Holdings Channel reports. The firm purchased 1,525,470 shares of the industrial products company’s stock, valued at approximately $80,953,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC bought a new stake in shares of Roper Technologies during the 4th quarter worth $203,000. Empowered Funds LLC grew its position in Roper Technologies by 11.7% during the first quarter. Empowered Funds LLC now owns 3,108 shares of the industrial products company’s stock valued at $1,832,000 after buying an additional 326 shares during the period. Cary Street Partners Financial LLC purchased a new stake in Roper Technologies during the second quarter worth about $137,000. Nebula Research & Development LLC purchased a new stake in Roper Technologies during the second quarter worth about $977,000. Finally, Sei Investments Co. raised its position in Roper Technologies by 22.6% in the second quarter. Sei Investments Co. now owns 61,621 shares of the industrial products company’s stock worth $34,928,000 after acquiring an additional 11,372 shares during the period. Hedge funds and other institutional investors own 93.31% of the company’s stock.
Roper Technologies Price Performance
Shares of NASDAQ:ROP opened at $413.28 on Thursday. The company has a quick ratio of 0.51, a current ratio of 0.55 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $40.87 billion, a PE ratio of 17.12, a P/E/G ratio of 1.86 and a beta of 0.74. Roper Technologies, Inc. has a twelve month low of $305.96 and a twelve month high of $532.18. The company has a 50-day moving average price of $372.19 and a two-hundred day moving average price of $353.78.
Roper Technologies Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 21st. Shareholders of record on Friday, October 2nd will be issued a dividend of $0.91 per share. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $3.64 dividend on an annualized basis and a yield of 0.9%. Roper Technologies’s payout ratio is presently 15.08%.
Analysts Set New Price Targets
A number of research firms have recently weighed in on ROP. Piper Sandler reduced their target price on shares of Roper Technologies from $540.00 to $526.00 and set an “overweight” rating for the company in a research report on Friday, July 24th. Weiss Ratings raised shares of Roper Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 14th. Zacks Research downgraded Roper Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 25th. BMO Capital Markets started coverage on Roper Technologies in a report on Friday, July 10th. They set a “market perform” rating and a $393.00 price objective for the company. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $417.00 target price on shares of Roper Technologies in a research report on Tuesday, August 18th. Seven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $466.94.
Check Out Our Latest Report on Roper Technologies
Insiders Place Their Bets
In other news, EVP John K. Stipancich sold 2,000 shares of Roper Technologies stock in a transaction on Monday, July 27th. The stock was sold at an average price of $379.05, for a total value of $758,100.00. Following the completion of the transaction, the executive vice president directly owned 35,634 shares in the company, valued at approximately $13,507,067.70. The trade was a 5.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard F. Wallman sold 6,434 shares of the business’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $361.00, for a total value of $2,322,674.00. Following the sale, the director owned 7,423 shares in the company, valued at approximately $2,679,703. The trade was a 46.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.80% of the company’s stock.
Roper Technologies Profile
Roper Technologies, Inc (NASDAQ: ROP) is a diversified technology company that acquires and manages businesses delivering specialized software, engineered products and data-driven analytics to niche markets. Its subsidiaries develop enterprise and cloud-based software, scientific and analytical instruments, industrial and medical devices, and other applied technologies designed to solve specific operational, regulatory and commercial challenges for customers. The company emphasizes recurring revenue streams from software licenses, subscriptions and service contracts alongside sales of hardware and instruments.
Roper operates a decentralized operating model in which acquired businesses retain entrepreneurial autonomy while benefiting from centralized capital allocation, legal and financial support.
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