AMI Asset Management Corp Decreases Position in Roper Technologies, Inc. (NYSE:ROP)

AMI Asset Management Corp decreased its position in Roper Technologies, Inc. (NYSE:ROP) by 3.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,831 shares of the industrial products company’s stock after selling 71 shares during the quarter. AMI Asset Management Corp’s holdings in Roper Technologies were worth $1,019,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. New Covenant Trust Company N.A. purchased a new position in shares of Roper Technologies in the first quarter valued at about $25,000. Fairscale Capital LLC purchased a new position in shares of Roper Technologies in the second quarter valued at about $28,000. Fortitude Family Office LLC purchased a new position in shares of Roper Technologies in the third quarter valued at about $28,000. Versant Capital Management Inc increased its position in shares of Roper Technologies by 58.8% in the second quarter. Versant Capital Management Inc now owns 54 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 20 shares during the period. Finally, Valley Wealth Managers Inc. purchased a new position in shares of Roper Technologies in the second quarter valued at about $31,000. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Roper Technologies Trading Up 0.7 %

NYSE:ROP opened at $548.81 on Wednesday. Roper Technologies, Inc. has a one year low of $476.02 and a one year high of $579.10. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.48 and a quick ratio of 0.44. The company’s 50-day simple moving average is $551.19 and its 200 day simple moving average is $545.64. The firm has a market capitalization of $58.84 billion, a P/E ratio of 40.15, a PEG ratio of 2.83 and a beta of 1.02.

Roper Technologies (NYSE:ROP) last posted its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $4.62 EPS for the quarter, topping the consensus estimate of $4.53 by $0.09. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.72 billion. Roper Technologies had a net margin of 21.78% and a return on equity of 10.73%. Roper Technologies’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.32 earnings per share. As a group, analysts forecast that Roper Technologies, Inc. will post 18.23 EPS for the current fiscal year.

Roper Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Tuesday, October 8th were paid a $0.75 dividend. The ex-dividend date was Tuesday, October 8th. This represents a $3.00 annualized dividend and a dividend yield of 0.55%. Roper Technologies’s dividend payout ratio is presently 21.95%.

Insider Transactions at Roper Technologies

In other news, Director Richard F. Wallman sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $550.00, for a total value of $550,000.00. Following the transaction, the director now owns 32,955 shares in the company, valued at approximately $18,125,250. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.87% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ROP shares. Royal Bank of Canada cut their target price on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Jefferies Financial Group lifted their target price on shares of Roper Technologies from $625.00 to $635.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Robert W. Baird lifted their target price on shares of Roper Technologies from $635.00 to $652.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Truist Financial reaffirmed a “buy” rating and set a $665.00 target price (up previously from $660.00) on shares of Roper Technologies in a research note on Thursday, October 24th. Finally, Mizuho lifted their target price on shares of Roper Technologies from $530.00 to $565.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Roper Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $620.80.

Roper Technologies 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.