Everence Capital Management Inc. Reduces Position in Roper Technologies, Inc. (NYSE:ROP)

Everence Capital Management Inc. cut its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 20.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,400 shares of the industrial products company’s stock after selling 1,100 shares during the quarter. Everence Capital Management Inc.’s holdings in Roper Technologies were worth $2,287,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ROP. GAMMA Investing LLC increased its holdings in Roper Technologies by 59.8% in the 4th quarter. GAMMA Investing LLC now owns 1,072 shares of the industrial products company’s stock worth $557,000 after buying an additional 401 shares during the period. Versant Capital Management Inc grew its position in Roper Technologies by 40.7% during the 4th quarter. Versant Capital Management Inc now owns 114 shares of the industrial products company’s stock worth $59,000 after purchasing an additional 33 shares during the period. First Financial Bank Trust Division lifted its holdings in shares of Roper Technologies by 28.0% in the 4th quarter. First Financial Bank Trust Division now owns 10,722 shares of the industrial products company’s stock valued at $5,574,000 after buying an additional 2,343 shares during the period. Global Wealth Strategies & Associates boosted its stake in shares of Roper Technologies by 49.3% in the fourth quarter. Global Wealth Strategies & Associates now owns 100 shares of the industrial products company’s stock worth $52,000 after buying an additional 33 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Roper Technologies by 7.5% during the third quarter. JPMorgan Chase & Co. now owns 662,033 shares of the industrial products company’s stock valued at $368,382,000 after acquiring an additional 45,947 shares in the last quarter. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Insider Buying and Selling

In other news, Director Richard F. Wallman sold 1,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $550.00, for a total transaction of $550,000.00. Following the completion of the transaction, the director now directly owns 32,955 shares of the company’s stock, valued at approximately $18,125,250. This represents a 2.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.87% of the stock is currently owned by insiders.

Roper Technologies Trading Up 0.6 %

ROP stock traded up $3.08 during midday trading on Friday, hitting $516.05. 104,877 shares of the company’s stock were exchanged, compared to its average volume of 369,650. The business has a 50-day simple moving average of $547.20 and a two-hundred day simple moving average of $549.73. 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 market capitalization of $55.34 billion, a PE ratio of 37.75, a P/E/G ratio of 2.84 and a beta of 1.02. Roper Technologies, Inc. has a 1-year low of $508.22 and a 1-year high of $580.09.

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, beating analysts’ consensus estimates of $4.53 by $0.09. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Roper Technologies had a net margin of 21.78% and a return on equity of 10.73%. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period last year, the business earned $4.32 earnings per share. On average, sell-side analysts predict that Roper Technologies, Inc. will post 18.26 EPS for the current fiscal year.

Roper Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be paid a $0.825 dividend. This is a boost from Roper Technologies’s previous quarterly dividend of $0.75. This represents a $3.30 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Friday, January 3rd. Roper Technologies’s dividend payout ratio (DPR) is presently 24.14%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Robert W. Baird increased their price target on shares of Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Truist Financial restated a “buy” rating and issued a $665.00 price objective (up from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. Barclays reissued an “underweight” rating and issued a $569.00 price target (down previously from $625.00) on shares of Roper Technologies in a report on Thursday, December 5th. Oppenheimer began coverage on shares of Roper Technologies in a research report on Monday, December 23rd. They issued an “outperform” rating and a $630.00 target price on the stock. Finally, Royal Bank of Canada reduced their price target on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $615.20.

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.