Victory Capital Management Inc. Has $49.54 Million Stake in Roper Technologies, Inc. (NYSE:ROP)

Victory Capital Management Inc. decreased its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 2.1% during the third quarter, HoldingsChannel.com reports. The fund owned 89,030 shares of the industrial products company’s stock after selling 1,925 shares during the period. Victory Capital Management Inc.’s holdings in Roper Technologies were worth $49,540,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ROP. Avantax Advisory Services Inc. increased its holdings in shares of Roper Technologies by 16.2% during the 1st quarter. Avantax Advisory Services Inc. now owns 509 shares of the industrial products company’s stock valued at $285,000 after acquiring an additional 71 shares during the last quarter. Kingsview Wealth Management LLC acquired a new stake in Roper Technologies in the 1st quarter valued at approximately $210,000. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Roper Technologies by 3.5% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 141,038 shares of the industrial products company’s stock valued at $78,853,000 after buying an additional 4,735 shares during the last quarter. Intech Investment Management LLC grew its holdings in Roper Technologies by 19.7% in the 1st quarter. Intech Investment Management LLC now owns 11,398 shares of the industrial products company’s stock valued at $6,392,000 after buying an additional 1,878 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Roper Technologies by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 10,072,028 shares of the industrial products company’s stock valued at $5,648,796,000 after buying an additional 125,387 shares during the last quarter. Institutional investors and hedge funds own 93.31% of the company’s stock.

Roper Technologies Price Performance

Roper Technologies stock opened at $548.23 on Friday. 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 has a market capitalization of $58.79 billion, a PE ratio of 41.00, a price-to-earnings-growth ratio of 2.98 and a beta of 1.03. Roper Technologies, Inc. has a one year low of $508.22 and a one year high of $579.10. The business has a 50 day simple moving average of $552.38 and a 200 day simple moving average of $547.46.

Roper Technologies (NYSE:ROP) last issued its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.53 by $0.09. Roper Technologies had a return on equity of 10.73% and a net margin of 21.78%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the previous year, the company posted $4.32 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, sell-side analysts forecast that Roper Technologies, Inc. will post 18.24 EPS for the current fiscal year.

Roper Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be paid a $0.825 dividend. This is a boost from Roper Technologies’s previous quarterly dividend of $0.75. This represents a $3.30 annualized dividend and a dividend yield of 0.60%. The ex-dividend date is Friday, January 3rd. Roper Technologies’s dividend payout ratio (DPR) is 21.95%.

Insider Activity

In other news, Director Richard F. Wallman sold 1,000 shares of Roper Technologies stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $550.00, for a total value of $550,000.00. Following the completion of the sale, the director now directly owns 32,955 shares of the company’s stock, valued at approximately $18,125,250. This trade represents a 2.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.87% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Royal Bank of Canada lowered their target price on Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Truist Financial reaffirmed a “buy” rating and issued a $665.00 target price (up previously from $660.00) on shares of Roper Technologies in a report on Thursday, October 24th. Jefferies Financial Group raised their price objective on Roper Technologies from $625.00 to $635.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Baird R W upgraded Roper Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 25th. Finally, Oppenheimer reduced their price objective on Roper Technologies from $650.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $620.80.

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.