Roper Technologies, Inc. (NYSE:ROP) Shares Acquired by SouthState Corp

SouthState Corp increased its stake in Roper Technologies, Inc. (NYSE:ROP) by 0.4% during the third quarter, HoldingsChannel.com reports. The fund owned 35,511 shares of the industrial products company’s stock after buying an additional 158 shares during the period. Roper Technologies makes up approximately 1.4% of SouthState Corp’s holdings, making the stock its 22nd biggest position. SouthState Corp’s holdings in Roper Technologies were worth $19,760,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. New Covenant Trust Company N.A. acquired a new position in shares of Roper Technologies in the 1st quarter worth $25,000. Fairscale Capital LLC acquired a new position in shares of Roper Technologies in the 2nd quarter worth $28,000. Fortitude Family Office LLC acquired a new position in shares of Roper Technologies in the 3rd quarter worth $28,000. Versant Capital Management Inc grew its holdings in shares of Roper Technologies by 58.8% in the 2nd quarter. Versant Capital Management Inc now owns 54 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 20 shares during the last quarter. Finally, Valley Wealth Managers Inc. acquired a new position in shares of Roper Technologies in the 2nd quarter worth $31,000. 93.31% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Roper Technologies news, Director Richard F. Wallman sold 1,000 shares of the business’s stock in a transaction dated 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 owns 32,955 shares of the company’s stock, valued at $18,125,250. The trade was a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.87% of the company’s stock.

Roper Technologies Price Performance

ROP opened at $549.37 on Tuesday. The stock has a market cap of $58.91 billion, a price-to-earnings ratio of 30.66, a PEG ratio of 2.86 and a beta of 1.03. Roper Technologies, Inc. has a 1 year low of $508.22 and a 1 year high of $579.10. The company has a current ratio of 0.48, a quick ratio of 0.44 and a debt-to-equity ratio of 0.41. The stock has a fifty day moving average price of $552.31 and a 200 day moving average price of $548.46.

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

Roper Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be given a $0.825 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.60%. This is a boost from Roper Technologies’s previous quarterly dividend of $0.75. Roper Technologies’s payout ratio is currently 21.95%.

Wall Street Analyst Weigh In

ROP has been the topic of a number of research analyst reports. Truist Financial reiterated a “buy” rating and set a $665.00 price target (up previously from $660.00) on shares of Roper Technologies in a report on Thursday, October 24th. Royal Bank of Canada lowered their price target on Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Baird R W upgraded Roper Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 25th. Mizuho lifted their price target on Roper Technologies from $530.00 to $565.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Robert W. Baird lifted their price target on Roper Technologies from $635.00 to $652.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.