Commonwealth Equity Services LLC Trims Stock Holdings in Roper Technologies, Inc. (NYSE:ROP)

Posted by Defense World Staff on May 9th, 2023

Commonwealth Equity Services LLC reduced its stake in Roper Technologies, Inc. (NYSE:ROP – Get Rating) by 7.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,555 shares of the industrial products company’s stock after selling 1,468 shares during the period. Commonwealth Equity Services LLC’s holdings in Roper Technologies were worth $8,017,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ROP. Phocas Financial Corp. purchased a new stake in Roper Technologies in the 4th quarter valued at about $28,000. U.S. Capital Wealth Advisors LLC purchased a new stake in Roper Technologies during the fourth quarter worth about $34,000. Pinnacle Bancorp Inc. grew its position in shares of Roper Technologies by 41.3% during the fourth quarter. Pinnacle Bancorp Inc. now owns 89 shares of the industrial products company’s stock worth $38,000 after buying an additional 26 shares in the last quarter. Guardian Wealth Advisors LLC acquired a new position in shares of Roper Technologies during the third quarter worth about $42,000. Finally, Concord Wealth Partners acquired a new position in shares of Roper Technologies during the fourth quarter worth about $43,000. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Roper Technologies Trading Up 0.0 %

Shares of ROP stock opened at $458.25 on Tuesday. Roper Technologies, Inc. has a fifty-two week low of $356.21 and a fifty-two week high of $463.70. The stock has a market cap of $48.84 billion, a P/E ratio of 17.43, a P/E/G ratio of 2.68 and a beta of 1.04. The business has a fifty day simple moving average of $436.88 and a 200-day simple moving average of $431.71. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 0.37.

Roper Technologies (NYSE:ROP – Get Rating) last posted its quarterly earnings data on Thursday, April 27th. The industrial products company reported $3.90 EPS for the quarter, beating analysts’ consensus estimates of $3.85 by $0.05. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.45 billion. Roper Technologies had a return on equity of 11.00% and a net margin of 50.48%. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.77 earnings per share. On average, analysts forecast that Roper Technologies, Inc. will post 16.27 earnings per share for the current fiscal year.

Roper Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 21st. Investors of record on Thursday, April 6th were paid a dividend of $0.683 per share. The ex-dividend date of this dividend was Wednesday, April 5th. This represents a $2.73 dividend on an annualized basis and a dividend yield of 0.60%. This is a positive change from Roper Technologies’s previous quarterly dividend of $0.68. Roper Technologies’s dividend payout ratio (DPR) is presently 10.38%.

Insiders Place Their Bets

In other Roper Technologies news, Director Christopher Wright sold 471 shares of the firm’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $429.55, for a total value of $202,318.05. Following the sale, the director now directly owns 38,127 shares of the company’s stock, valued at approximately $16,377,452.85. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Robert D. Johnson sold 250 shares of the firm’s stock in a transaction dated Thursday, March 30th. The stock was sold at an average price of $436.00, for a total transaction of $109,000.00. Following the sale, the director now directly owns 6,153 shares in the company, valued at approximately $2,682,708. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Christopher Wright sold 471 shares of Roper Technologies stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $429.55, for a total value of $202,318.05. Following the sale, the director now owns 38,127 shares in the company, valued at $16,377,452.85. The disclosure for this sale can be found here. 0.88% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ROP has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $528.00 price target on shares of Roper Technologies in a report on Wednesday, March 22nd. Barclays upped their price target on Roper Technologies from $518.00 to $525.00 in a report on Monday, May 1st. Truist Financial upped their price target on Roper Technologies from $525.00 to $540.00 in a report on Friday, April 28th. Sanford C. Bernstein raised Roper Technologies from an “underperform” rating to a “market perform” rating and upped their price target for the company from $490.00 to $525.00 in a report on Tuesday, May 2nd. Finally, StockNews.com initiated coverage on Roper Technologies in a report on Thursday, March 16th. They issued a “hold” rating for the company. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $498.08.

About Roper Technologies

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Roper Technologies, Inc is a diversified technology company, which engages in the provision of engineered products and solutions for global niche markets. It operates through the following segments: Application Software, Network Software, and Technology Enabled Products. The Application Software segment includes Aderant, CBORD/Horizon, CliniSys, Data Innovations, Deltek, Frontline Education, IntelliTrans, PowerPlan, Strata, and Vertafore.