Roper Technologies, Inc. (NYSE:ROP) Shares Sold by Durable Capital Partners LP

Durable Capital Partners LP cut its holdings in Roper Technologies, Inc. (NYSE:ROP) by 43.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 641,644 shares of the industrial products company’s stock after selling 485,764 shares during the quarter. Roper Technologies comprises approximately 2.7% of Durable Capital Partners LP’s portfolio, making the stock its 15th largest holding. Durable Capital Partners LP owned about 0.60% of Roper Technologies worth $333,559,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ROP. JPMorgan Chase & Co. raised its position in Roper Technologies by 7.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 662,033 shares of the industrial products company’s stock worth $368,382,000 after buying an additional 45,947 shares during the last quarter. Sterneck Capital Management LLC acquired a new stake in shares of Roper Technologies in the 4th quarter valued at approximately $226,000. Douglas Lane & Associates LLC grew its holdings in Roper Technologies by 18.9% during the fourth quarter. Douglas Lane & Associates LLC now owns 109,656 shares of the industrial products company’s stock worth $57,005,000 after acquiring an additional 17,466 shares during the period. Sugarloaf Wealth Management LLC raised its position in Roper Technologies by 13.7% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 7,186 shares of the industrial products company’s stock worth $3,735,000 after acquiring an additional 868 shares in the last quarter. Finally, Czech National Bank grew its stake in shares of Roper Technologies by 6.5% during the 4th quarter. Czech National Bank now owns 23,249 shares of the industrial products company’s stock worth $12,086,000 after purchasing an additional 1,412 shares during the period. Institutional investors and hedge funds own 93.31% of the company’s stock.

Roper Technologies Price Performance

Roper Technologies stock opened at $569.70 on Wednesday. The firm has a fifty day moving average of $566.67 and a 200-day moving average of $554.88. Roper Technologies, Inc. has a 52-week low of $499.47 and a 52-week high of $595.17. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $61.25 billion, a P/E ratio of 39.73, a PEG ratio of 2.77 and a beta of 1.08.

Roper Technologies (NYSE:ROP) last issued its quarterly earnings data on Monday, April 28th. The industrial products company reported $4.78 EPS for the quarter, topping analysts’ consensus estimates of $4.74 by $0.04. Roper Technologies had a return on equity of 10.79% and a net margin of 22.01%. The business’s revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.41 EPS. As a group, analysts predict that Roper Technologies, Inc. will post 19.96 EPS for the current year.

Roper Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 22nd. Stockholders of record on Friday, April 4th were given a dividend of $0.825 per share. The ex-dividend date was Friday, April 4th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.58%. Roper Technologies’s payout ratio is currently 23.81%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Stifel Nicolaus dropped their target price on shares of Roper Technologies from $685.00 to $650.00 and set a “buy” rating for the company in a report on Tuesday, April 29th. JPMorgan Chase & Co. upped their target price on Roper Technologies from $465.00 to $470.00 and gave the company a “neutral” rating in a report on Tuesday, April 29th. Robert W. Baird boosted their price objective on shares of Roper Technologies from $660.00 to $668.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 29th. Truist Financial restated a “buy” rating and set a $675.00 target price (up from $665.00) on shares of Roper Technologies in a report on Friday, January 31st. Finally, Oppenheimer reissued an “outperform” rating and set a $640.00 price objective on shares of Roper Technologies in a research note on Monday, April 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $620.91.

Insider Activity

In related news, CFO Jason Conley sold 3,000 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $588.19, for a total value of $1,764,570.00. Following the completion of the transaction, the chief financial officer now owns 31,522 shares of the company’s stock, valued at approximately $18,540,925.18. This represents a 8.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.87% 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.