Connor Clark & Lunn Investment Management Ltd. Trims Holdings in Roper Technologies, Inc. (NYSE:ROP)

Connor Clark & Lunn Investment Management Ltd. lowered its holdings in shares of Roper Technologies, Inc. (NYSE:ROP - Free Report) by 79.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,005 shares of the industrial products company's stock after selling 46,944 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Roper Technologies were worth $6,241,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ROP. OFI Invest Asset Management acquired a new stake in Roper Technologies during the fourth quarter worth approximately $38,000. E Fund Management Hong Kong Co. Ltd. grew its stake in Roper Technologies by 7,500.0% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 76 shares of the industrial products company's stock valued at $40,000 after acquiring an additional 75 shares during the period. Golden State Wealth Management LLC acquired a new stake in Roper Technologies in the fourth quarter valued at approximately $45,000. Ameliora Wealth Management Ltd. acquired a new stake in Roper Technologies in the fourth quarter valued at approximately $49,000. Finally, J.Safra Asset Management Corp grew its stake in Roper Technologies by 113.0% in the fourth quarter. J.Safra Asset Management Corp now owns 98 shares of the industrial products company's stock valued at $51,000 after acquiring an additional 52 shares during the period. Institutional investors and hedge funds own 93.31% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on ROP. Barclays reduced their price objective on Roper Technologies from $569.00 to $562.00 and set an "underweight" rating for the company in a research note on Wednesday, January 8th. Truist Financial reissued a "buy" rating and issued a $675.00 price objective (up previously from $665.00) on shares of Roper Technologies in a research note on Friday, January 31st. JPMorgan Chase & Co. raised their price objective on Roper Technologies from $539.00 to $558.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. TD Cowen upgraded Roper Technologies from a "hold" rating to a "buy" rating and raised their target price for the company from $535.00 to $615.00 in a report on Tuesday, January 28th. Finally, Robert W. Baird set a $665.00 target price on Roper Technologies in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $623.60.

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Insiders Place Their Bets

In other news, VP Brandon L. Cross sold 750 shares of Roper Technologies stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $577.83, for a total value of $433,372.50. Following the completion of the transaction, the vice president now directly owns 1,329 shares in the company, valued at approximately $767,936.07. The trade was a 36.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jason Conley sold 3,000 shares of Roper Technologies stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $588.19, for a total value of $1,764,570.00. Following the completion of the transaction, the chief financial officer now owns 31,522 shares of the company's stock, valued at approximately $18,540,925.18. This trade represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,101 shares of company stock valued at $4,712,045 over the last ninety days. 0.87% of the stock is currently owned by insiders.

Roper Technologies Stock Performance

Roper Technologies stock traded up $0.97 during mid-day trading on Wednesday, reaching $577.83. 488,827 shares of the company's stock were exchanged, compared to its average volume of 640,780. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.35. The business's fifty day simple moving average is $560.10 and its 200 day simple moving average is $552.22. Roper Technologies, Inc. has a one year low of $499.47 and a one year high of $595.17. The firm has a market capitalization of $62.05 billion, a PE ratio of 40.29, a P/E/G ratio of 2.77 and a beta of 1.06.

Roper Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Friday, April 4th will be given a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Friday, April 4th. Roper Technologies's dividend payout ratio is currently 23.01%.

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.