Suncoast Equity Management Purchases 52 Shares of Roper Technologies, Inc. (NYSE:ROP)

Suncoast Equity Management increased its holdings in shares of Roper Technologies, Inc. (NYSE:ROP) by 3.9% in the third quarter, HoldingsChannel reports. The firm owned 1,386 shares of the industrial products company’s stock after buying an additional 52 shares during the period. Suncoast Equity Management’s holdings in Roper Technologies were worth $771,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. New Covenant Trust Company N.A. bought a new position in shares of Roper Technologies during the 1st quarter worth approximately $25,000. Fairscale Capital LLC acquired a new stake in Roper Technologies during the 2nd quarter valued at $28,000. OFI Invest Asset Management bought a new position in Roper Technologies during the first quarter worth $29,000. Versant Capital Management Inc increased its holdings in shares of Roper Technologies by 58.8% in the second quarter. Versant Capital Management Inc now owns 54 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 20 shares during the last quarter. Finally, Valley Wealth Managers Inc. bought a new position in shares of Roper Technologies in the second quarter valued at about $31,000. Institutional investors and hedge funds own 93.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Mizuho upped their price target on shares of Roper Technologies from $530.00 to $565.00 and gave the company a “neutral” rating in a research note on Thursday. Oppenheimer decreased their target price on Roper Technologies from $650.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Barclays lifted their price target on Roper Technologies from $611.00 to $625.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Truist Financial reaffirmed a “buy” rating and issued a $660.00 price objective on shares of Roper Technologies in a report on Tuesday, August 27th. Finally, Royal Bank of Canada lifted their target price on Roper Technologies from $674.00 to $675.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $619.50.

Insider Activity at Roper Technologies

In other Roper Technologies news, Director Robert D. Johnson sold 140 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $550.34, for a total transaction of $77,047.60. Following the sale, the director now owns 5,909 shares of the company’s stock, valued at approximately $3,251,959.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.87% of the stock is owned by insiders.

Roper Technologies Price Performance

NYSE ROP traded down $5.26 on Monday, hitting $552.36. 55,848 shares of the company’s stock were exchanged, compared to its average volume of 494,244. The stock has a 50-day moving average of $549.91 and a 200-day moving average of $545.28. The stock has a market cap of $59.13 billion, a price-to-earnings ratio of 40.47, a P/E/G ratio of 2.90 and a beta of 1.02. Roper Technologies, Inc. has a 52 week low of $474.46 and a 52 week high of $579.10. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.38.

Roper Technologies (NYSE:ROP) last released its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $4.48 earnings per share for the quarter, beating the consensus estimate of $4.46 by $0.02. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. Roper Technologies had a return on equity of 10.77% and a net margin of 22.14%. Analysts expect that Roper Technologies, Inc. will post 18.16 earnings per share for the current year.

Roper Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Tuesday, October 8th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Tuesday, October 8th. Roper Technologies’s dividend payout ratio is 21.77%.

Roper Technologies 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.