BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 2,638 Shares of Roper Technologies, Inc. (NYSE:ROP)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its stake in Roper Technologies, Inc. (NYSE:ROP) by 12.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,861 shares of the industrial products company’s stock after selling 2,638 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Roper Technologies were worth $9,943,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Fairscale Capital LLC purchased a new position in shares of Roper Technologies during the 2nd quarter worth $28,000. Fortitude Family Office LLC purchased a new position in shares of Roper Technologies during the 3rd quarter worth $28,000. Versant Capital Management Inc boosted its stake in shares of Roper Technologies by 58.8% during the 2nd quarter. Versant Capital Management Inc now owns 54 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 20 shares during the last quarter. Valley Wealth Managers Inc. purchased a new position in shares of Roper Technologies during the 2nd quarter worth $31,000. Finally, Global Wealth Strategies & Associates purchased a new position in shares of Roper Technologies during the 3rd quarter worth $37,000. Institutional investors own 93.31% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on ROP. Mizuho lifted their price target on shares of Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Jefferies Financial Group lifted their target price on shares of Roper Technologies from $625.00 to $635.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Truist Financial restated a “buy” rating and set a $665.00 target price (up previously from $660.00) on shares of Roper Technologies in a research note on Thursday, October 24th. Robert W. Baird lifted their target price on shares of Roper Technologies from $635.00 to $652.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Royal Bank of Canada lowered their target price on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $620.80.

Insider Transactions at Roper Technologies

In related news, Director Richard F. Wallman sold 1,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $550.00, for a total transaction of $550,000.00. Following the transaction, the director now directly owns 32,955 shares in the company, valued at approximately $18,125,250. This represents a 2.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.87% of the company’s stock.

Roper Technologies Stock Up 0.4 %

Shares of ROP stock opened at $566.44 on Monday. The stock has a market cap of $60.74 billion, a P/E ratio of 41.44, a PEG ratio of 2.96 and a beta of 1.03. Roper Technologies, Inc. has a 52 week low of $508.22 and a 52 week high of $579.10. 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 company’s fifty day simple moving average is $553.18 and its two-hundred day simple moving average is $550.80.

Roper Technologies (NYSE:ROP) last announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 EPS for the quarter, topping the consensus estimate of $4.53 by $0.09. The business 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 business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.32 EPS. Analysts predict that Roper Technologies, Inc. will post 18.24 EPS for the current fiscal year.

Roper Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be issued a $0.825 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This is an increase from Roper Technologies’s previous quarterly dividend of $0.75. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.58%. Roper Technologies’s payout ratio is 21.95%.

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.