SouthState Corp Grows Position in Roper Technologies, Inc. (NYSE:ROP)

SouthState Corp boosted its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,706 shares of the industrial products company’s stock after purchasing an additional 195 shares during the period. Roper Technologies comprises about 1.2% of SouthState Corp’s investment portfolio, making the stock its 25th biggest position. SouthState Corp’s holdings in Roper Technologies were worth $18,562,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of ROP. Empowered Funds LLC lifted its position in Roper Technologies by 11.7% during the third quarter. Empowered Funds LLC now owns 2,108 shares of the industrial products company’s stock valued at $1,173,000 after purchasing an additional 220 shares in the last quarter. Mizuho Securities USA LLC lifted its position in shares of Roper Technologies by 162.2% in the third quarter. Mizuho Securities USA LLC now owns 21,631 shares of the industrial products company’s stock valued at $12,036,000 after acquiring an additional 13,382 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Roper Technologies by 3.7% in the third quarter. Thrivent Financial for Lutherans now owns 7,610 shares of the industrial products company’s stock valued at $4,235,000 after acquiring an additional 269 shares in the last quarter. Swiss National Bank lifted its position in shares of Roper Technologies by 0.3% in the third quarter. Swiss National Bank now owns 317,700 shares of the industrial products company’s stock valued at $176,781,000 after acquiring an additional 800 shares in the last quarter. Finally, Taurus Asset Management LLC lifted its position in shares of Roper Technologies by 4.7% in the third quarter. Taurus Asset Management LLC now owns 21,675 shares of the industrial products company’s stock valued at $12,061,000 after acquiring an additional 965 shares in the last quarter. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

Roper Technologies Trading Up 1.1 %

Shares of NYSE ROP opened at $569.29 on Monday. The business’s 50 day moving average is $557.33 and its two-hundred day moving average is $551.91. 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, Inc. has a 1-year low of $499.47 and a 1-year high of $595.17. The stock has a market capitalization of $61.13 billion, a P/E ratio of 39.70, a PEG ratio of 2.77 and a beta of 1.06.

Roper Technologies Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Robert W. Baird set a $665.00 price objective on Roper Technologies in a research report on Friday, January 31st. Oppenheimer boosted their price objective on Roper Technologies from $630.00 to $640.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Barclays reduced their target price on Roper Technologies from $569.00 to $562.00 and set an “underweight” rating on the stock in a report on Wednesday, January 8th. Truist Financial reaffirmed a “buy” rating and issued a $675.00 target price (up from $665.00) on shares of Roper Technologies in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. lifted their target price on Roper Technologies from $539.00 to $558.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $623.60.

Insider Activity

In related news, VP Brandon L. Cross sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $577.83, for a total value of $433,372.50. Following the completion of the sale, the vice president now owns 1,329 shares in the company, valued at approximately $767,936.07. The trade was a 36.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jason Conley sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $588.19, for a total value of $1,764,570.00. Following the completion of the sale, the chief financial officer now owns 31,522 shares of the company’s stock, valued at $18,540,925.18. The trade was a 8.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,101 shares of company stock valued at $4,712,045. 0.87% of the stock is currently owned by 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.