Parnassus Investments LLC Sells 3,729 Shares of Roper Technologies, Inc. (NYSE:ROP)

Parnassus Investments LLC trimmed its holdings in shares of Roper Technologies, Inc. (NYSE:ROP - Free Report) by 1.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 191,188 shares of the industrial products company's stock after selling 3,729 shares during the quarter. Parnassus Investments LLC owned 0.18% of Roper Technologies worth $106,385,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. ORG Partners LLC grew its stake in Roper Technologies by 764.2% in the second quarter. ORG Partners LLC now owns 1,158 shares of the industrial products company's stock worth $652,000 after purchasing an additional 1,024 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in Roper Technologies by 1.0% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 240,633 shares of the industrial products company's stock worth $136,455,000 after purchasing an additional 2,399 shares during the last quarter. O Shaughnessy Asset Management LLC boosted 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 worth $5,067,000 after purchasing an additional 988 shares during the period. PGGM Investments increased its stake in Roper Technologies by 739.4% during 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 last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of Roper Technologies by 201.6% during the first quarter. Cetera Investment Advisers now owns 20,340 shares of the industrial products company's stock worth $11,408,000 after purchasing an additional 13,597 shares during the period. Hedge funds and other institutional investors own 93.31% of the company's stock.

Insider Buying and Selling

In other news, Director Richard F. Wallman sold 1,000 shares of the firm's stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $550.00, for a total transaction of $550,000.00. Following the completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.87% of the stock is owned by corporate insiders.

Roper Technologies Price Performance

Shares of ROP stock traded down $1.41 during midday trading on Tuesday, reaching $547.96. 355,634 shares of the company were exchanged, compared to its average volume of 495,952. The company's 50 day moving average price is $552.31 and its two-hundred day moving average price is $548.46. The company has a market cap of $58.76 billion, a P/E ratio of 40.04, a PEG ratio of 2.86 and a beta of 1.03. Roper Technologies, Inc. has a 12 month low of $508.22 and a 12 month high of $579.10. 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 (NYSE:ROP - Get Free Report) last announced its 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 firm had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.72 billion. Roper Technologies had a return on equity of 10.73% and a net margin of 21.78%. The firm'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 earnings per share. 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 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 dividend of $0.825 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $3.30 annualized dividend and a yield of 0.60%. This is a boost from Roper Technologies's previous quarterly dividend of $0.75. Roper Technologies's dividend payout ratio (DPR) is currently 21.95%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ROP shares. Mizuho boosted 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. Robert W. Baird increased their price target on Roper Technologies from $635.00 to $652.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Royal Bank of Canada reduced their price objective 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. Truist Financial restated a "buy" rating and set a $665.00 price objective (up from $660.00) on shares of Roper Technologies in a research note on Thursday, October 24th. Finally, Jefferies Financial Group boosted 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. Three 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 company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price 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.