Avestar Capital LLC Makes New $231,000 Investment in Roper Technologies, Inc. (NYSE:ROP)

Avestar Capital LLC purchased a new position in Roper Technologies, Inc. (NYSE:ROP) in the fourth quarter, HoldingsChannel reports. The firm purchased 423 shares of the industrial products company’s stock, valued at approximately $231,000.

A number of other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in shares of Roper Technologies in the fourth quarter worth $756,176,000. Mackenzie Financial Corp lifted its holdings in shares of Roper Technologies by 45.6% in the fourth quarter. Mackenzie Financial Corp now owns 896,909 shares of the industrial products company’s stock worth $488,968,000 after buying an additional 280,873 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in shares of Roper Technologies by 32.8% in the fourth quarter. Corient Private Wealth LLC now owns 858,949 shares of the industrial products company’s stock worth $468,273,000 after buying an additional 211,967 shares in the last quarter. iA Global Asset Management Inc. purchased a new position in shares of Roper Technologies in the third quarter worth $82,379,000. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Roper Technologies by 81.7% in the third quarter. Envestnet Asset Management Inc. now owns 318,210 shares of the industrial products company’s stock worth $154,103,000 after buying an additional 143,122 shares in the last quarter. 93.31% of the stock is currently owned by institutional investors.

Roper Technologies Trading Up 1.2 %

Shares of ROP opened at $532.76 on Friday. Roper Technologies, Inc. has a twelve month low of $446.86 and a twelve month high of $565.00. The company has a market cap of $57.03 billion, a P/E ratio of 38.66, a P/E/G ratio of 2.76 and a beta of 1.00. The company has a current ratio of 0.49, a quick ratio of 0.45 and a debt-to-equity ratio of 0.41. The company’s fifty day simple moving average is $535.10 and its 200-day simple moving average is $539.16.

Roper Technologies (NYSE:ROP) last announced its earnings results on Friday, April 26th. The industrial products company reported $4.41 earnings per share for the quarter, beating the consensus estimate of $4.34 by $0.07. Roper Technologies had a net margin of 23.21% and a return on equity of 10.75%. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the firm posted $3.90 earnings per share. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. As a group, analysts expect that Roper Technologies, Inc. will post 18.15 EPS for the current year.

Roper Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Friday, April 5th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend was Thursday, April 4th. Roper Technologies’s payout ratio is presently 21.77%.

Insider Transactions at Roper Technologies

In other news, Director Christopher Wright sold 200 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $549.71, for a total value of $109,942.00. Following the transaction, the director now directly owns 35,547 shares in the company, valued at $19,540,541.37. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.87% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ROP shares. Raymond James boosted their target price on shares of Roper Technologies from $572.00 to $620.00 and gave the stock a “strong-buy” rating in a report on Friday, February 2nd. Oppenheimer reaffirmed an “outperform” rating and set a $650.00 price target on shares of Roper Technologies in a research note on Monday, April 29th. Mizuho upped their price target on shares of Roper Technologies from $525.00 to $530.00 and gave the company a “neutral” rating in a research note on Monday, April 29th. Royal Bank of Canada decreased their price target on shares of Roper Technologies from $696.00 to $680.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Finally, Barclays upped their price target on shares of Roper Technologies from $596.00 to $600.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $584.82.

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.