Roper Technologies, Inc. (NYSE:ROP) Shares Purchased by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. raised its holdings in shares of Roper Technologies, Inc. (NYSE:ROP) by 1.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,389 shares of the industrial products company’s stock after acquiring an additional 401 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Roper Technologies were worth $12,557,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Roper Technologies in the 4th quarter valued at about $756,176,000. Mackenzie Financial Corp boosted its position in shares of Roper Technologies by 45.6% in the 4th quarter. Mackenzie Financial Corp now owns 896,909 shares of the industrial products company’s stock valued at $488,968,000 after purchasing an additional 280,873 shares during the period. First Trust Advisors LP raised its stake in Roper Technologies by 149.7% during the 4th quarter. First Trust Advisors LP now owns 366,981 shares of the industrial products company’s stock valued at $200,067,000 after acquiring an additional 220,006 shares during the last quarter. Corient Private Wealth LLC raised its stake in Roper Technologies by 32.8% during the 4th quarter. Corient Private Wealth LLC now owns 858,949 shares of the industrial products company’s stock valued at $468,273,000 after acquiring an additional 211,967 shares during the last quarter. Finally, iA Global Asset Management Inc. purchased a new stake in Roper Technologies during the 3rd quarter valued at approximately $82,379,000. 93.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on ROP. Barclays upped their price objective on Roper Technologies from $596.00 to $600.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Oppenheimer reaffirmed an “outperform” rating and set a $650.00 price objective on shares of Roper Technologies in a research note on Monday, April 29th. Mizuho increased their target price on Roper Technologies from $525.00 to $530.00 and gave the stock a “neutral” rating in a research note on Monday, April 29th. Wolfe Research downgraded Roper Technologies from an “outperform” rating to a “peer perform” rating in a research note on Thursday, June 13th. Finally, Royal Bank of Canada cut their target price on Roper Technologies from $696.00 to $680.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Roper Technologies has an average rating of “Moderate Buy” and an average target price of $584.82.

Roper Technologies Stock Up 0.4 %

NYSE:ROP traded up $2.27 during mid-day trading on Friday, hitting $561.49. The company had a trading volume of 1,028,932 shares, compared to its average volume of 432,466. The business has a fifty day simple moving average of $536.77 and a 200-day simple moving average of $541.78. The company has a current ratio of 0.49, a quick ratio of 0.45 and a debt-to-equity ratio of 0.41. Roper Technologies, Inc. has a 1 year low of $453.96 and a 1 year high of $565.00. The firm has a market capitalization of $60.10 billion, a price-to-earnings ratio of 40.75, a PEG ratio of 2.93 and a beta of 1.01.

Roper Technologies (NYSE:ROP) last released its quarterly earnings data on Friday, April 26th. The industrial products company reported $4.41 EPS for the quarter, beating the consensus estimate of $4.34 by $0.07. Roper Technologies had a return on equity of 10.75% and a net margin of 23.21%. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the company posted $3.90 earnings per share. The firm’s revenue was up 14.4% compared to the same quarter last year. Equities analysts forecast that Roper Technologies, Inc. will post 18.15 earnings per share for the current fiscal year.

Roper Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 22nd. Stockholders of record on Monday, July 8th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Monday, July 8th. Roper Technologies’s payout ratio is 21.77%.

Insider Transactions at Roper Technologies

In related news, Director Christopher Wright sold 300 shares of Roper Technologies stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $554.67, for a total value of $166,401.00. Following the completion of the transaction, the director now directly owns 35,247 shares in the company, valued at $19,550,453.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.87% of the company’s stock.

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.