Catalyst Funds Management Pty Ltd Grows Stake in Roper Technologies, Inc. (NYSE:ROP)

Catalyst Funds Management Pty Ltd grew its holdings in shares of Roper Technologies, Inc. (NYSE:ROP) by 50.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 600 shares of the industrial products company’s stock after buying an additional 200 shares during the period. Catalyst Funds Management Pty Ltd’s holdings in Roper Technologies were worth $312,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its holdings in Roper Technologies by 5.4% in the 3rd 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 in the last quarter. Citigroup Inc. increased its position in shares of Roper Technologies by 17.6% during the third quarter. Citigroup Inc. now owns 190,587 shares of the industrial products company’s stock valued at $106,050,000 after buying an additional 28,555 shares during the period. Douglas Lane & Associates LLC raised its stake in Roper Technologies by 18.9% in the fourth 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 in the last quarter. Synovus Financial Corp lifted its holdings in Roper Technologies by 19.6% in the third quarter. Synovus Financial Corp now owns 5,867 shares of the industrial products company’s stock worth $3,265,000 after buying an additional 961 shares during the period. Finally, Harvest Fund Management Co. Ltd boosted its position in 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 in the last quarter. Institutional investors own 93.31% of the company’s stock.

Insider Transactions at Roper Technologies

In related news, CFO Jason Conley sold 3,000 shares of Roper Technologies stock in a transaction 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 sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Brandon L. Cross sold 750 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $577.83, for a total value of $433,372.50. Following the completion of the transaction, the vice president now directly owns 1,329 shares in the company, valued at approximately $767,936.07. This represents a 36.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 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 Trading Up 1.1 %

Shares of NYSE:ROP opened at $569.29 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.40 and a quick ratio of 0.37. Roper Technologies, Inc. has a 1 year low of $499.47 and a 1 year high of $595.17. The company has a market cap of $61.13 billion, a P/E ratio of 39.70, a PEG ratio of 2.77 and a beta of 1.06. The stock’s fifty day moving average price is $557.33 and its 200-day moving average price is $551.90.

Roper Technologies Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. TD Cowen upgraded Roper Technologies from a “hold” rating to a “buy” rating and raised their target price for the company from $535.00 to $615.00 in a research note on Tuesday, January 28th. Oppenheimer boosted their target price on shares of Roper Technologies from $630.00 to $640.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Robert W. Baird set a $665.00 price target on shares of Roper Technologies in a research note on Friday, January 31st. Truist Financial reissued a “buy” rating and set a $675.00 price objective (up previously from $665.00) on shares of Roper Technologies in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. raised their target price on shares of Roper Technologies from $539.00 to $558.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Roper Technologies currently has an average rating of “Moderate Buy” and an average target price of $623.60.

Roper Technologies Company Profile

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.