CIBC Asset Management Inc Acquires 1,775 Shares of Roper Technologies, Inc. (NYSE:ROP)

CIBC Asset Management Inc raised its holdings in shares of Roper Technologies, Inc. (NYSE:ROP - Free Report) by 3.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 49,221 shares of the industrial products company's stock after purchasing an additional 1,775 shares during the period. CIBC Asset Management Inc's holdings in Roper Technologies were worth $27,382,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. New Covenant Trust Company N.A. purchased a new position in Roper Technologies during the first quarter valued at $25,000. Fairscale Capital LLC bought a new position in Roper Technologies in the 2nd quarter worth about $28,000. Fortitude Family Office LLC purchased a new stake in Roper Technologies during the 3rd quarter valued at about $28,000. Versant Capital Management Inc increased its stake 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 valued at $30,000 after purchasing an additional 20 shares in the last quarter. Finally, Valley Wealth Managers Inc. purchased a new position in Roper Technologies in the second quarter worth about $31,000. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Roper Technologies

In other Roper Technologies news, Director Richard F. Wallman sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $550.00, for a total value of $550,000.00. Following the completion of the transaction, the director now directly owns 32,955 shares in the company, valued at $18,125,250. This represents a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.87% of the stock is currently owned by corporate insiders.

Roper Technologies Stock Performance

Shares of NYSE:ROP traded down $16.54 during trading on Friday, hitting $548.23. The company's stock had a trading volume of 581,284 shares, compared to its average volume of 496,269. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.48 and a quick ratio of 0.44. The firm has a market cap of $58.79 billion, a price-to-earnings ratio of 40.10, a P/E/G ratio of 2.98 and a beta of 1.03. The company has a 50-day moving average of $552.39 and a 200-day moving average of $547.70. Roper Technologies, Inc. has a 12 month low of $508.22 and a 12 month high of $579.10.

Roper Technologies (NYSE:ROP - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share for the quarter, topping the consensus estimate of $4.53 by $0.09. Roper Technologies had a net margin of 21.78% and a return on equity of 10.73%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period last year, the firm earned $4.32 earnings per share. The company's quarterly revenue was up 11.7% on a year-over-year basis. On average, sell-side analysts expect that Roper Technologies, Inc. will post 18.24 earnings per share for the current year.

Roper Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be given a dividend of $0.825 per share. This is a boost 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 0.60%. The ex-dividend date is Friday, January 3rd. Roper Technologies's payout ratio is presently 24.14%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ROP shares. Jefferies Financial Group increased their price target on shares of Roper Technologies from $625.00 to $635.00 and gave the company a "buy" rating in a report on Friday, August 16th. Mizuho lifted their target price on Roper Technologies from $530.00 to $565.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. Oppenheimer lowered their price target on Roper Technologies from $650.00 to $630.00 and set an "outperform" rating on the stock in a report on Thursday, July 25th. Truist Financial reiterated a "buy" rating and issued a $665.00 price objective (up from $660.00) on shares of Roper Technologies in a report on Thursday, October 24th. Finally, Royal Bank of Canada decreased their target price on Roper Technologies from $675.00 to $666.00 and set an "outperform" rating for the company in a research report 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 stock. Based on data from MarketBeat, Roper Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $620.80.

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.