Procyon Advisors LLC Has $1.34 Million Stake in Roper Technologies, Inc. (NYSE:ROP)

Procyon Advisors LLC raised its position in Roper Technologies, Inc. (NYSE:ROP) by 6.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,449 shares of the industrial products company’s stock after purchasing an additional 154 shares during the period. Procyon Advisors LLC’s holdings in Roper Technologies were worth $1,335,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Roper Technologies by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 9,782,155 shares of the industrial products company’s stock valued at $4,737,302,000 after acquiring an additional 100,621 shares during the period. BlackRock Inc. grew its position in Roper Technologies by 22.9% during the second quarter. BlackRock Inc. now owns 9,496,315 shares of the industrial products company’s stock valued at $4,565,828,000 after buying an additional 1,770,965 shares during the period. State Street Corp grew its position in Roper Technologies by 1.7% during the second quarter. State Street Corp now owns 4,369,088 shares of the industrial products company’s stock valued at $2,100,658,000 after buying an additional 74,241 shares during the period. Morgan Stanley grew its position in Roper Technologies by 2.9% during the fourth quarter. Morgan Stanley now owns 3,409,974 shares of the industrial products company’s stock valued at $1,473,416,000 after buying an additional 95,728 shares during the period. Finally, Principal Financial Group Inc. grew its position in Roper Technologies by 1.7% during the third quarter. Principal Financial Group Inc. now owns 2,528,982 shares of the industrial products company’s stock valued at $1,224,736,000 after buying an additional 42,962 shares during the period. Institutional investors and hedge funds own 93.31% of the company’s stock.

Insider Activity at Roper Technologies

In related news, Director Christopher Wright sold 200 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $549.71, for a total transaction of $109,942.00. Following the completion of the transaction, the director now directly owns 35,547 shares in the company, valued at approximately $19,540,541.37. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.94% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. TD Cowen lowered shares of Roper Technologies from an “outperform” rating to a “market perform” rating and set a $535.00 price target for the company. in a research report on Thursday, January 4th. Raymond James upped their price objective on shares of Roper Technologies from $572.00 to $620.00 and gave the company a “strong-buy” rating in a report on Friday, February 2nd. Royal Bank of Canada increased their price target on shares of Roper Technologies from $620.00 to $622.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Oppenheimer raised their target price on shares of Roper Technologies from $580.00 to $650.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Finally, Barclays increased their price target on shares of Roper Technologies from $580.00 to $596.00 and gave the company an “overweight” rating in a research report on Monday, February 5th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $574.25.

Roper Technologies Stock Up 0.4 %

Roper Technologies stock traded up $2.35 on Thursday, hitting $561.53. 48,813 shares of the stock traded hands, compared to its average volume of 486,409. The company has a current ratio of 0.50, a quick ratio of 0.46 and a debt-to-equity ratio of 0.33. The firm has a market cap of $60.09 billion, a P/E ratio of 43.38, a price-to-earnings-growth ratio of 2.92 and a beta of 0.99. The business’s fifty day simple moving average is $548.00 and its 200 day simple moving average is $526.21. Roper Technologies, Inc. has a 1 year low of $430.03 and a 1 year high of $563.15.

Roper Technologies (NYSE:ROP) last posted its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.34 by $0.03. Roper Technologies had a return on equity of 10.63% and a net margin of 22.41%. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the firm earned $3.92 EPS. Roper Technologies’s quarterly revenue was up 12.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Roper Technologies, Inc. will post 18.07 earnings per share for the current year.

Roper Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 22nd. Investors of record on Friday, April 5th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.53%. Roper Technologies’s dividend payout ratio (DPR) is presently 23.27%.

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.