Roper Technologies, Inc. (NYSE:ROP) Receives $623.60 Consensus Target Price from Brokerages

Roper Technologies, Inc. (NYSE:ROP) has been assigned an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $623.60.

Several equities research analysts have recently issued reports on ROP shares. Barclays decreased their target price on Roper Technologies from $569.00 to $562.00 and set an “underweight” rating for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. raised their target price on Roper Technologies from $539.00 to $558.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Truist Financial reaffirmed a “buy” rating and set a $675.00 target price (up from $665.00) on shares of Roper Technologies in a research report on Friday, January 31st. TD Cowen upgraded Roper Technologies from a “hold” rating to a “buy” rating and increased their price target for the stock from $535.00 to $615.00 in a research note on Tuesday, January 28th. Finally, Robert W. Baird set a $665.00 price target on Roper Technologies in a research note on Friday, January 31st.

Roper Technologies Trading Down 0.6 %

Shares of Roper Technologies stock opened at $572.18 on Monday. Roper Technologies has a 1 year low of $499.47 and a 1 year high of $595.17. The firm has a market cap of $61.44 billion, a PE ratio of 39.90, a P/E/G ratio of 2.77 and a beta of 1.06. The stock has a fifty day moving average price of $564.14 and a 200-day moving average price of $552.68. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.40 and a quick ratio of 0.37.

Roper Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Friday, April 4th will be paid a $0.825 dividend. The ex-dividend date is Friday, April 4th. This represents a $3.30 annualized dividend and a yield of 0.58%. Roper Technologies’s dividend payout ratio is currently 23.01%.

Insiders Place Their Bets

In other news, Director Richard F. Wallman sold 351 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $575.25, for a total transaction of $201,912.75. Following the completion of the transaction, the director now owns 20,187 shares of the company’s stock, valued at approximately $11,612,571.75. The trade was a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brandon L. Cross sold 750 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $577.83, for a total value of $433,372.50. Following the transaction, the vice president now directly owns 1,329 shares of the company’s stock, valued at $767,936.07. The trade was a 36.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,101 shares of company stock worth $4,712,045 in the last quarter. 0.87% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ROP. Norges Bank purchased a new position in shares of Roper Technologies during the fourth quarter worth about $914,052,000. T. Rowe Price Investment Management Inc. lifted its position in Roper Technologies by 42.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,151,502 shares of the industrial products company’s stock worth $2,678,009,000 after buying an additional 1,529,716 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Roper Technologies by 54.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,022,665 shares of the industrial products company’s stock worth $531,633,000 after buying an additional 360,632 shares during the last quarter. Wellington Management Group LLP lifted its position in Roper Technologies by 87.8% in the 3rd quarter. Wellington Management Group LLP now owns 738,582 shares of the industrial products company’s stock worth $410,977,000 after buying an additional 345,268 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Roper Technologies in the 4th quarter worth approximately $148,070,000. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Roper Technologies Company 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.