Roper Technologies, Inc. (NYSE:ROP) Shares Sold by ICICI Prudential Asset Management Co Ltd

ICICI Prudential Asset Management Co Ltd lowered its holdings in shares of Roper Technologies, Inc. (NYSE:ROP) by 79.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,399 shares of the industrial products company’s stock after selling 5,434 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Roper Technologies were worth $778,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ROP. ORG Partners LLC raised its position in shares of Roper Technologies by 764.2% in the second quarter. ORG Partners LLC now owns 1,158 shares of the industrial products company’s stock valued at $652,000 after buying an additional 1,024 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in Roper Technologies by 1.0% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 240,633 shares of the industrial products company’s stock valued at $136,455,000 after purchasing an additional 2,399 shares during the period. Sei Investments Co. grew its holdings in Roper Technologies by 5.6% in the first quarter. Sei Investments Co. now owns 29,414 shares of the industrial products company’s stock valued at $16,495,000 after purchasing an additional 1,553 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in Roper Technologies by 12.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 9,035 shares of the industrial products company’s stock valued at $5,067,000 after purchasing an additional 988 shares during the period. Finally, PGGM Investments grew its holdings in Roper Technologies by 739.4% in the second quarter. PGGM Investments now owns 72,596 shares of the industrial products company’s stock valued at $40,919,000 after purchasing an additional 63,947 shares during the period. Institutional investors and hedge funds own 93.31% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ROP shares. Baird R W upgraded shares of Roper Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 25th. Mizuho boosted 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. Robert W. Baird boosted 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. Truist Financial restated 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. Finally, Oppenheimer decreased their price objective on shares of Roper Technologies from $650.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $620.80.

Roper Technologies Stock Up 0.7 %

Shares of ROP stock traded up $3.84 on Wednesday, hitting $568.61. The stock had a trading volume of 85,714 shares, compared to its average volume of 494,339. The firm has a market capitalization of $60.97 billion, a price-to-earnings ratio of 41.31, a P/E/G ratio of 2.95 and a beta of 1.03. The stock’s 50 day moving average is $551.93 and its 200-day moving average is $547.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.44 and a current ratio of 0.48. Roper Technologies, Inc. has a 52-week low of $508.22 and a 52-week high of $579.10.

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

Roper Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.58%. 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 is 21.95%.

Insiders Place Their Bets

In related news, Director Richard F. Wallman sold 1,000 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $550.00, for a total value of $550,000.00. Following the sale, the director now owns 32,955 shares of the company’s stock, valued at $18,125,250. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.87% of the stock is owned by corporate insiders.

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.