BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 2,638 Shares of Roper Technologies, Inc. (NYSE:ROP)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 12.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,861 shares of the industrial products company’s stock after selling 2,638 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Roper Technologies were worth $9,943,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ROP. Cetera Investment Advisers grew its stake 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 valued at $11,408,000 after buying an additional 13,597 shares during the last quarter. Cetera Advisors LLC boosted its holdings in shares of Roper Technologies by 4.7% during the first quarter. Cetera Advisors LLC now owns 5,603 shares of the industrial products company’s stock worth $3,142,000 after purchasing an additional 253 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Roper Technologies by 29.6% during the first quarter. EverSource Wealth Advisors LLC now owns 477 shares of the industrial products company’s stock worth $244,000 after purchasing an additional 109 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Roper Technologies by 32.0% during the second quarter. GAMMA Investing LLC now owns 561 shares of the industrial products company’s stock worth $316,000 after purchasing an additional 136 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in shares of Roper Technologies by 58.8% during the second quarter. Versant Capital Management Inc now owns 54 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 20 shares during the period. 93.31% of the stock is owned by institutional investors.

Roper Technologies Price Performance

ROP stock opened at $566.44 on Monday. The firm has a 50 day moving average price of $553.18 and a 200-day moving average price of $550.80. Roper Technologies, Inc. has a 52-week low of $508.22 and a 52-week high of $579.10. The firm has a market capitalization of $60.74 billion, a price-to-earnings ratio of 41.44, a PEG ratio of 2.96 and a beta of 1.03. 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) last released its earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.53 by $0.09. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.72 billion. Roper Technologies had a net margin of 21.78% and a return on equity of 10.73%. The business’s revenue was up 11.7% on a year-over-year basis. During the same period last year, the business earned $4.32 earnings per share. Equities research analysts forecast that Roper Technologies, Inc. will post 18.24 EPS for the current fiscal year.

Roper Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be given a dividend of $0.825 per share. The ex-dividend date is Friday, January 3rd. This represents a $3.30 annualized dividend and a dividend yield of 0.58%. This is an increase from Roper Technologies’s previous quarterly dividend of $0.75. Roper Technologies’s dividend payout ratio (DPR) is 21.95%.

Insider Activity at Roper Technologies

In related news, Director Richard F. Wallman sold 1,000 shares of the firm’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 transaction of $550,000.00. Following the completion of the sale, the director now owns 32,955 shares of the company’s stock, valued at $18,125,250. This trade represents a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.87% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ROP. Truist Financial reiterated a “buy” rating and set a $665.00 target price (up from $660.00) on shares of Roper Technologies in a report on Thursday, October 24th. Jefferies Financial Group increased their target price on shares of Roper Technologies from $625.00 to $635.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Robert W. Baird raised their price objective on shares of Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Mizuho raised their price objective on shares of Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada lowered their price objective on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.