Roper Technologies (NYSE:ROP) Shares Gap Up – What’s Next?

Roper Technologies, Inc. (NYSE:ROP)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $543.02, but opened at $565.99. Roper Technologies shares last traded at $580.68, with a volume of 85,807 shares trading hands.

Wall Street Analysts Forecast Growth

ROP has been the subject of a number of recent research reports. TD Cowen upgraded Roper Technologies from a “hold” rating to a “buy” rating and increased their price objective for the company from $535.00 to $615.00 in a report on Tuesday. Royal Bank of Canada decreased their target price 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. Mizuho boosted their price target on shares of Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Barclays decreased their price objective on shares of Roper Technologies from $569.00 to $562.00 and set an “underweight” rating for the company in a research report on Wednesday, January 8th. Finally, Robert W. Baird upped their price target on shares of Roper Technologies from $635.00 to $652.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $623.33.

Roper Technologies Trading Up 5.4 %

The company has a debt-to-equity ratio of 0.41, a current ratio of 0.48 and a quick ratio of 0.44. The stock has a market cap of $61.35 billion, a P/E ratio of 41.88, a PEG ratio of 2.55 and a beta of 1.04. The firm’s fifty day moving average price is $535.28 and its two-hundred day moving average price is $544.69.

Roper Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 3rd were paid a $0.825 dividend. This is a positive change from Roper Technologies’s previous quarterly dividend of $0.75. This represents a $3.30 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Friday, January 3rd. Roper Technologies’s dividend payout ratio is currently 24.14%.

Institutional Investors Weigh In On Roper Technologies

Several hedge funds have recently bought and sold shares of the stock. State Street Corp grew its stake in shares of Roper Technologies by 2.9% in the third quarter. State Street Corp now owns 4,730,427 shares of the industrial products company’s stock worth $2,632,199,000 after purchasing an additional 132,575 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Roper Technologies by 2.1% in the third quarter. Geode Capital Management LLC now owns 2,447,026 shares of the industrial products company’s stock valued at $1,357,162,000 after acquiring an additional 51,131 shares in the last quarter. Wellington Management Group LLP increased its position in Roper Technologies by 87.8% during the 3rd quarter. Wellington Management Group LLP now owns 738,582 shares of the industrial products company’s stock valued at $410,977,000 after purchasing an additional 345,268 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Roper Technologies by 7.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 662,033 shares of the industrial products company’s stock worth $368,382,000 after purchasing an additional 45,947 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Roper Technologies by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 648,903 shares of the industrial products company’s stock valued at $361,076,000 after purchasing an additional 9,653 shares in the last quarter. 93.31% of the stock is currently owned by institutional investors.

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.