Roper Technologies (NASDAQ:ROP) Reaches New 52-Week High After Dividend Announcement

Roper Technologies, Inc. (NASDAQ:ROP)’s share price hit a new 52-week high during trading on Thursday following a dividend announcement from the company. The stock traded as high as $497.99 and last traded at $497.5660, with a volume of 42,760 shares changing hands. The stock had previously closed at $492.22.

The newly announced dividend which will be paid on Tuesday, January 19th. Shareholders of record on Monday, January 4th will be issued a dividend of $1.00 per share. This is a boost from Roper Technologies’s previous quarterly dividend of $0.91. The ex-dividend date is Monday, January 4th. This represents a $4.00 dividend on an annualized basis and a yield of 0.8%. Roper Technologies’s dividend payout ratio (DPR) is currently 14.36%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ROP. Robert W. Baird set a $480.00 price objective on shares of Roper Technologies and gave the company an “outperform” rating in a report on Friday, July 24th. The Goldman Sachs Group decreased their target price on Roper Technologies from $414.00 to $410.00 and set a “neutral” rating on the stock in a research report on Friday, July 24th. Citigroup boosted their price objective on shares of Roper Technologies from $450.00 to $525.00 and gave the company a “buy” rating in a research report on Friday, October 23rd. Argus upgraded Roper Technologies from a “hold” rating to a “buy” rating and set a $450.00 target price for the company in a research note on Thursday, August 6th. Finally, Truist Financial lifted their price objective on Roper Technologies from $475.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Roper Technologies has an average rating of “Hold” and an average price target of $469.41.

Roper Technologies Trading Up 1.4%

The company has a market capitalization of $49.45 billion, a P/E ratio of 19.60, a price-to-earnings-growth ratio of 2.35 and a beta of 0.67. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.43 and a quick ratio of 0.39. The company has a fifty day simple moving average of $396.43 and a two-hundred day simple moving average of $366.45.

Roper Technologies (NASDAQ:ROP) last released its quarterly earnings data on Thursday, October 22nd. The industrial products company reported $5.89 earnings per share for the quarter, beating analysts’ consensus estimates of $5.79 by $0.10. The company had revenue of $2.17 billion for the quarter. Roper Technologies had a return on equity of 11.64% and a net margin of 30.71%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.14 earnings per share. On average, analysts forecast that Roper Technologies, Inc. will post 22.38 earnings per share for the current fiscal year.

Insider Activity

In other Roper Technologies news, EVP Jason Conley sold 12,000 shares of Roper Technologies stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $435.53, for a total transaction of $5,226,360.00. Following the completion of the transaction, the executive vice president directly owned 28,457 shares of the company’s stock, valued at $12,393,877.21. The trade was a 29.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John K. Stipancich sold 3,500 shares of the stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $449.04, for a total transaction of $1,571,640.00. Following the transaction, the executive vice president owned 35,434 shares in the company, valued at approximately $15,911,283.36. The trade was a 8.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Roper Technologies during the 2nd quarter valued at about $27,000. Global Assets Advisory LLC purchased a new position in Roper Technologies in the first quarter worth about $36,000. BOK Financial Private Wealth Inc. purchased a new position in Roper Technologies in the 2nd quarter worth about $36,000. Salomon & Ludwin LLC purchased a new stake in Roper Technologies during the third quarter valued at $37,000. Finally, CoreCap Advisors LLC lifted its position in Roper Technologies by 114.8% during the second quarter. CoreCap Advisors LLC now owns 131 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Roper Technologies Company Profile

Roper Technologies, Inc is a diversified technology company that develops and acquires businesses serving specialized markets. Its portfolio includes application software, network software and technology-enabled products used by businesses, healthcare organizations, government agencies and other institutions.

The company’s software businesses provide solutions for areas such as education administration, healthcare information management, enterprise asset management, compliance, legal and construction workflows, and financial services.