Roper Technologies, Inc. (NYSE:ROP) Shares Bought by Synovus Financial Corp

Synovus Financial Corp grew its holdings in shares of Roper Technologies, Inc. (NYSE:ROP - Free Report) by 19.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,867 shares of the industrial products company's stock after buying an additional 961 shares during the period. Synovus Financial Corp's holdings in Roper Technologies were worth $3,265,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Fairscale Capital LLC purchased a new stake in shares of Roper Technologies during the second quarter valued at $28,000. Fortitude Family Office LLC bought a new stake in Roper Technologies during the 3rd quarter valued at approximately $28,000. Valley Wealth Managers Inc. purchased a new stake in Roper Technologies in the 2nd quarter worth $31,000. Global Wealth Strategies & Associates purchased a new stake in shares of Roper Technologies during the 3rd quarter worth approximately $37,000. Finally, Kimelman & Baird LLC bought a new position in shares of Roper Technologies in the 2nd quarter valued at about $42,000. Hedge funds and other institutional investors own 93.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ROP shares. Barclays reiterated an "underweight" rating and set a $569.00 price objective (down previously from $625.00) on shares of Roper Technologies in a research report on Thursday, December 5th. Truist Financial restated a "buy" rating and set a $665.00 price target (up previously from $660.00) on shares of Roper Technologies in a research note on Thursday, October 24th. Robert W. Baird upped their price objective on shares of Roper Technologies from $635.00 to $652.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. Mizuho increased their target price on Roper Technologies from $530.00 to $565.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada cut their price objective on shares of Roper Technologies from $675.00 to $666.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Roper Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $615.20.

Insider Buying and Selling at Roper Technologies

In other news, Director Richard F. Wallman sold 1,000 shares of the stock in a transaction dated 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.87% of the company's stock.

Roper Technologies Stock Performance

ROP traded down $4.37 during trading on Friday, reaching $543.66. 590,430 shares of the company's stock were exchanged, compared to its average volume of 465,225. The stock has a market capitalization of $58.30 billion, a P/E ratio of 30.41, a price-to-earnings-growth ratio of 2.84 and a beta of 1.02. Roper Technologies, Inc. has a 1 year low of $508.22 and a 1 year high of $580.09. The company's fifty day simple moving average is $554.11 and its 200-day simple moving average is $551.68. 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 posted 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. Roper Technologies had a return on equity of 10.73% and a net margin of 21.78%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the company earned $4.32 earnings per share. Roper Technologies's revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, research analysts predict that Roper Technologies, Inc. will post 18.26 earnings per share 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 paid a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 0.61%. 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 dividend payout ratio is presently 21.95%.

Roper Technologies Company 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.