BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Cuts Stake in Roper Technologies, Inc. (NYSE:ROP)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its stake in shares of Roper Technologies, Inc. (NYSE:ROP - Free Report) by 12.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 reporting period.

Other large investors have also recently made changes to their positions in the company. Fairscale Capital LLC purchased a new position in Roper Technologies during the 2nd quarter valued at about $28,000. Fortitude Family Office LLC purchased a new position in Roper Technologies during the third quarter valued at approximately $28,000. Versant Capital Management Inc increased its holdings in 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 period. Valley Wealth Managers Inc. purchased a new stake in Roper Technologies in the 2nd quarter worth approximately $31,000. Finally, Global Wealth Strategies & Associates bought a new position in Roper Technologies in the 3rd quarter valued at $37,000. 93.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Jefferies Financial Group increased their price objective on Roper Technologies from $625.00 to $635.00 and gave the stock a "buy" rating in a research report on Friday, August 16th. Robert W. Baird boosted their price objective on Roper Technologies from $635.00 to $652.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. 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. Truist Financial reissued a "buy" rating and issued a $665.00 price target (up previously from $660.00) on shares of Roper Technologies in a research note on Thursday, October 24th. Finally, Mizuho raised 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. Three analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $620.80.

Insider Activity at Roper Technologies

In related news, Director Richard F. Wallman sold 1,000 shares of the firm's 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 $18,125,250. This trade represents a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.87% of the stock is currently owned by company insiders.

Roper Technologies Trading Up 0.4 %

Roper Technologies stock traded up $2.19 during mid-day trading on Monday, hitting $568.63. The company's stock had a trading volume of 595,910 shares, compared to its average volume of 493,335. The business has a 50 day moving average price of $553.18 and a 200-day moving average price of $550.80. Roper Technologies, Inc. has a 12 month low of $508.22 and a 12 month high of $579.10. The stock has a market cap of $60.97 billion, a price-to-earnings ratio of 41.60, a price-to-earnings-growth ratio of 2.96 and a beta of 1.03. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.48 and a quick ratio of 0.44.

Roper Technologies (NYSE:ROP - Get Free Report) last released its earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the previous year, the company posted $4.32 EPS. Roper Technologies's revenue for the quarter was up 11.7% on a year-over-year basis. As a group, analysts forecast that Roper Technologies, Inc. will post 18.24 EPS for the current year.

Roper Technologies Increases Dividend

The company 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 $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 0.58%. This is an increase from Roper Technologies's previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, January 3rd. Roper Technologies's payout ratio is presently 21.95%.

Roper Technologies 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.