Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Holdings in Roper Technologies, Inc. (NYSE:ROP)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Roper Technologies, Inc. (NYSE:ROP) by 20.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 49,353 shares of the industrial products company’s stock after acquiring an additional 8,415 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Roper Technologies were worth $25,656,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its stake in shares of Roper Technologies by 5.4% in the third quarter. PNC Financial Services Group Inc. now owns 34,652 shares of the industrial products company’s stock worth $19,282,000 after purchasing an additional 1,789 shares during the last quarter. Citigroup Inc. increased its holdings in Roper Technologies by 17.6% in the 3rd quarter. Citigroup Inc. now owns 190,587 shares of the industrial products company’s stock worth $106,050,000 after buying an additional 28,555 shares in the last quarter. Douglas Lane & Associates LLC raised its position in Roper Technologies by 18.9% in the 4th quarter. Douglas Lane & Associates LLC now owns 109,656 shares of the industrial products company’s stock worth $57,005,000 after buying an additional 17,466 shares during the last quarter. Synovus Financial Corp lifted its stake in Roper Technologies by 19.6% during the 3rd quarter. Synovus Financial Corp now owns 5,867 shares of the industrial products company’s stock valued at $3,265,000 after acquiring an additional 961 shares during the period. Finally, Harvest Fund Management Co. Ltd boosted its holdings in shares of Roper Technologies by 52.5% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 4,938 shares of the industrial products company’s stock valued at $2,747,000 after acquiring an additional 1,699 shares during the last quarter. 93.31% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, VP John K. Stipancich sold 1,000 shares of Roper Technologies stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $578.04, for a total transaction of $578,040.00. Following the sale, the vice president now owns 38,932 shares of the company’s stock, valued at approximately $22,504,253.28. This trade represents a 2.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jason Conley sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $588.19, for a total value of $1,764,570.00. Following the completion of the transaction, the chief financial officer now owns 31,522 shares of the company’s stock, valued at $18,540,925.18. The trade was a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,101 shares of company stock worth $4,712,045 over the last three months. 0.87% of the stock is currently owned by company insiders.

Roper Technologies Stock Performance

Shares of ROP opened at $565.75 on Wednesday. Roper Technologies, Inc. has a 52 week low of $499.47 and a 52 week high of $595.17. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.35. The stock has a market cap of $60.75 billion, a price-to-earnings ratio of 39.45, a PEG ratio of 2.77 and a beta of 1.06. The business has a 50-day simple moving average of $554.32 and a two-hundred day simple moving average of $551.56.

Roper Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Friday, April 4th will be issued a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 0.58%. The ex-dividend date is Friday, April 4th. Roper Technologies’s dividend payout ratio is currently 23.01%.

Analyst Ratings Changes

Several research analysts have recently weighed in on ROP shares. Robert W. Baird set a $665.00 price objective on shares of Roper Technologies in a report on Friday, January 31st. Barclays decreased their target price on shares of Roper Technologies from $569.00 to $562.00 and set an “underweight” rating for the company in a research note on Wednesday, January 8th. Raymond James restated a “strong-buy” rating and issued a $655.00 price target (up from $620.00) on shares of Roper Technologies in a research note on Friday, January 31st. TD Cowen upgraded Roper Technologies from a “hold” rating to a “buy” rating and upped their price objective for the company from $535.00 to $615.00 in a research report on Tuesday, January 28th. Finally, Truist Financial reissued a “buy” rating and issued a $675.00 target price (up from $665.00) on shares of Roper Technologies in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $623.60.

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.