Roper Technologies, Inc. (NYSE:ROP) Shares Sold by Assetmark Inc.

Posted by Defense World Staff on Aug 11th, 2023

Assetmark Inc. decreased its holdings in shares of Roper Technologies, Inc. (NYSE:ROP – Free Report) by 3.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,370 shares of the industrial products company’s stock after selling 73 shares during the quarter. Assetmark Inc.’s holdings in Roper Technologies were worth $1,044,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ROP. Moneta Group Investment Advisors LLC lifted its stake in Roper Technologies by 68,873.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,724,328 shares of the industrial products company’s stock worth $745,065,000 after purchasing an additional 1,721,828 shares during the last quarter. Norges Bank purchased a new stake in Roper Technologies in the fourth quarter valued at approximately $497,958,000. CIBC Private Wealth Group LLC lifted its stake in Roper Technologies by 105.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,091,748 shares of the industrial products company’s stock valued at $899,912,000 after buying an additional 1,072,030 shares during the last quarter. CI Private Wealth LLC purchased a new stake in Roper Technologies in the fourth quarter valued at approximately $245,541,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in Roper Technologies by 6.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,440,733 shares of the industrial products company’s stock valued at $3,647,156,000 after buying an additional 493,848 shares during the last quarter. Hedge funds and other institutional investors own 91.48% of the company’s stock.

Insider Activity

In other news, Director Robert D. Johnson sold 250 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $450.15, for a total value of $112,537.50. Following the sale, the director now directly owns 5,903 shares in the company, valued at $2,657,235.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Robert D. Johnson sold 250 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $450.15, for a total value of $112,537.50. Following the sale, the director now directly owns 5,903 shares in the company, valued at $2,657,235.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher Wright sold 300 shares of the company’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $457.19, for a total value of $137,157.00. Following the completion of the sale, the director now owns 37,827 shares in the company, valued at $17,294,126.13. The disclosure for this sale can be found here. Insiders have sold 3,593 shares of company stock worth $1,762,580 over the last three months. 0.94% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Truist Financial boosted their price objective on Roper Technologies from $525.00 to $540.00 in a research note on Friday, April 28th. Argus boosted their target price on Roper Technologies from $490.00 to $550.00 and gave the company a “buy” rating in a report on Monday, July 24th. TD Cowen boosted their target price on Roper Technologies from $525.00 to $535.00 and gave the company an “outperform” rating in a report on Tuesday, July 25th. Barclays boosted their target price on Roper Technologies from $550.00 to $560.00 in a report on Tuesday. Finally, Wells Fargo & Company boosted their target price on Roper Technologies from $550.00 to $555.00 and gave the company an “overweight” rating in a report on Monday, July 24th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $525.80.

Read Our Latest Analysis on Roper Technologies

Roper Technologies Stock Down 0.1 %

Roper Technologies stock opened at $487.98 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.90 and a current ratio of 0.94. The firm has a market capitalization of $52.07 billion, a price-to-earnings ratio of 31.30, a price-to-earnings-growth ratio of 2.83 and a beta of 1.02. Roper Technologies, Inc. has a fifty-two week low of $356.21 and a fifty-two week high of $502.13. The stock’s fifty day moving average is $474.01 and its two-hundred day moving average is $450.88.

Roper Technologies (NYSE:ROP – Get Free Report) last issued its quarterly earnings data on Friday, July 21st. The industrial products company reported $4.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.99 by $0.13. Roper Technologies had a return on equity of 10.61% and a net margin of 50.21%. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the business earned $3.95 earnings per share. The business’s revenue was up 16.8% on a year-over-year basis. Analysts predict that Roper Technologies, Inc. will post 16.45 EPS for the current fiscal year.

Roper Technologies Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 24th. Stockholders of record on Monday, July 10th were given a $0.6825 dividend. The ex-dividend date of this dividend was Friday, July 7th. This represents a $2.73 annualized dividend and a dividend yield of 0.56%. Roper Technologies’s dividend payout ratio is currently 10.05%.

Roper Technologies Profile

(Free Report)

Roper Technologies, Inc designs and develops software, and technology enabled products and solutions. The company offers management, campus solutions, diagnostic and laboratory information management, enterprise management, 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.