Cadence Bank Sells 86 Shares of Roper Technologies, Inc. (NYSE:ROP)

Cadence Bank cut its holdings in shares of Roper Technologies, Inc. (NYSE:ROP) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,442 shares of the industrial products company’s stock after selling 86 shares during the period. Cadence Bank’s holdings in Roper Technologies were worth $2,309,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Roper Technologies in the fourth quarter worth about $914,052,000. JPMorgan Chase & Co. increased its position in shares of Roper Technologies by 54.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,022,665 shares of the industrial products company’s stock valued at $531,633,000 after purchasing an additional 360,632 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Roper Technologies in the 4th quarter worth about $148,070,000. Proficio Capital Partners LLC raised its holdings in shares of Roper Technologies by 59,278.6% in the fourth quarter. Proficio Capital Partners LLC now owns 280,267 shares of the industrial products company’s stock worth $145,697,000 after buying an additional 279,795 shares during the period. Finally, Marshall Wace LLP boosted its stake in shares of Roper Technologies by 15,719.2% during the fourth quarter. Marshall Wace LLP now owns 220,678 shares of the industrial products company’s stock valued at $114,719,000 after purchasing an additional 219,283 shares during the period. 93.31% of the stock is owned by hedge funds and other institutional investors.

Roper Technologies Stock Performance

Shares of Roper Technologies stock opened at $557.24 on Friday. The business’s 50 day moving average price is $571.40 and its 200 day moving average price is $554.18. The company has a market cap of $59.84 billion, a price-to-earnings ratio of 38.86, a PEG ratio of 2.77 and a beta of 1.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.37 and a current ratio of 0.40. Roper Technologies, Inc. has a one year low of $499.47 and a one year high of $595.17.

Roper Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Friday, April 4th will be given a dividend of $0.825 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.30 annualized dividend and a dividend yield of 0.59%. Roper Technologies’s payout ratio is 23.01%.

Analyst Upgrades and Downgrades

ROP has been the subject of several recent research reports. Barclays reduced their price target 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. Raymond James reissued a “strong-buy” rating and set a $655.00 price target (up from $620.00) on shares of Roper Technologies in a research report on Friday, January 31st. Truist Financial reiterated a “buy” rating and set a $675.00 price target (up from $665.00) on shares of Roper Technologies in a research report on Friday, January 31st. Robert W. Baird set a $665.00 target price on Roper Technologies in a research report on Friday, January 31st. Finally, Oppenheimer boosted their price target on shares of Roper Technologies from $630.00 to $640.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $620.73.

Insider Activity at Roper Technologies

In related news, VP John K. Stipancich sold 1,000 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $578.04, for a total value of $578,040.00. Following the completion of the transaction, the vice president now directly owns 38,932 shares in the company, valued at approximately $22,504,253.28. This represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard F. Wallman sold 351 shares of Roper Technologies stock in a transaction on Friday, January 31st. The shares were sold at an average price of $575.25, for a total value of $201,912.75. Following the completion of the sale, the director now owns 20,187 shares in the company, valued at $11,612,571.75. This represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,101 shares of company stock valued at $4,712,045. 0.87% of the stock is owned by company insiders.

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.