Synovus Financial Corp Has $1.85 Million Stock Position in Roper Technologies, Inc. (NYSE:ROP)

Synovus Financial Corp reduced its stake in shares of Roper Technologies, Inc. (NYSE:ROP - Free Report) by 39.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,557 shares of the industrial products company's stock after selling 2,310 shares during the quarter. Synovus Financial Corp's holdings in Roper Technologies were worth $1,849,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ROP. Summit Investment Advisors Inc. increased its position in shares of Roper Technologies by 2.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,750 shares of the industrial products company's stock worth $2,989,000 after purchasing an additional 140 shares in the last quarter. Brogan Financial Inc. increased its holdings in shares of Roper Technologies by 5.5% during the fourth quarter. Brogan Financial Inc. now owns 1,009 shares of the industrial products company's stock worth $525,000 after buying an additional 53 shares in the last quarter. Sagespring Wealth Partners LLC bought a new position in shares of Roper Technologies in the fourth quarter valued at approximately $272,000. Optimize Financial Inc acquired a new position in shares of Roper Technologies in the 4th quarter worth approximately $1,568,000. Finally, Townsquare Capital LLC grew its position in Roper Technologies by 15.6% during the 4th quarter. Townsquare Capital LLC now owns 2,374 shares of the industrial products company's stock worth $1,234,000 after acquiring an additional 321 shares during the last quarter. 93.31% of the stock is owned by institutional investors.

Roper Technologies Stock Performance

ROP stock traded up $0.97 during midday trading on Friday, reaching $557.24. 343,108 shares of the company were exchanged, compared to its average volume of 552,992. 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 $59.84 billion, a price-to-earnings ratio of 38.86, a price-to-earnings-growth ratio of 2.77 and a beta of 1.04. The business has a 50-day moving average price of $570.92 and a two-hundred day moving average price of $554.25. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.40 and a quick ratio of 0.37.

Roper Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Friday, April 4th will be issued a dividend of $0.825 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.30 annualized dividend and a dividend yield of 0.59%. Roper Technologies's dividend payout ratio is presently 23.01%.

Insider Activity

In other news, Director Richard F. Wallman sold 351 shares of the business's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $575.25, for a total value of $201,912.75. Following the completion of the transaction, the director now directly owns 20,187 shares in the company, valued at approximately $11,612,571.75. The trade was a 1.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jason Conley sold 3,000 shares of the business's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $578.05, for a total transaction of $1,734,150.00. Following the transaction, the chief financial officer now owns 31,522 shares of the company's stock, valued at approximately $18,221,292.10. This represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,101 shares of company stock worth $4,712,045. Corporate insiders own 0.87% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. TD Cowen raised Roper Technologies from a "hold" rating to a "buy" rating and upped their price objective for the stock from $535.00 to $615.00 in a report on Tuesday, January 28th. Stifel Nicolaus initiated coverage on shares of Roper Technologies in a research report on Thursday, March 27th. They issued a "buy" rating and a $685.00 price objective for the company. JPMorgan Chase & Co. dropped their target price on shares of Roper Technologies from $558.00 to $465.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Robert W. Baird set a $665.00 price target on Roper Technologies in a report on Friday, January 31st. Finally, Raymond James restated a "strong-buy" rating and set a $655.00 target price (up previously from $620.00) on shares of Roper Technologies in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $620.73.

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.