Roper Technologies, Inc. (NYSE:ROP) is Eventide Asset Management LLC’s 4th Largest Position

Eventide Asset Management LLC increased its holdings in Roper Technologies, Inc. (NYSE:ROP) by 3.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 260,445 shares of the industrial products company’s stock after purchasing an additional 9,887 shares during the quarter. Roper Technologies accounts for 2.5% of Eventide Asset Management LLC’s investment portfolio, making the stock its 4th biggest position. Eventide Asset Management LLC owned 0.24% of Roper Technologies worth $144,922,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. ORG Partners LLC grew its holdings in shares of Roper Technologies by 764.2% in the second quarter. ORG Partners LLC now owns 1,158 shares of the industrial products company’s stock worth $652,000 after purchasing an additional 1,024 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in Roper Technologies by 1.0% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 240,633 shares of the industrial products company’s stock worth $136,455,000 after acquiring an additional 2,399 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Roper Technologies by 5.4% in the third quarter. PNC Financial Services Group Inc. now owns 34,652 shares of the industrial products company’s stock valued at $19,282,000 after acquiring an additional 1,789 shares during the period. Citigroup Inc. raised its stake in shares of Roper Technologies by 17.6% during the third quarter. Citigroup Inc. now owns 190,587 shares of the industrial products company’s stock valued at $106,050,000 after acquiring an additional 28,555 shares during the last quarter. Finally, PGGM Investments boosted its holdings in shares of Roper Technologies by 739.4% during the second quarter. PGGM Investments now owns 72,596 shares of the industrial products company’s stock worth $40,919,000 after purchasing an additional 63,947 shares during the period. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

Roper Technologies Price Performance

ROP stock opened at $564.35 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.44 and a current ratio of 0.48. The firm has a 50 day moving average price of $553.01 and a 200-day moving average price of $550.14. Roper Technologies, Inc. has a 52-week low of $508.22 and a 52-week high of $579.10. The firm has a market capitalization of $60.52 billion, a price-to-earnings ratio of 41.28, a PEG ratio of 2.95 and a beta of 1.03.

Roper Technologies (NYSE:ROP) last released its earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 EPS for the quarter, topping the consensus estimate of $4.53 by $0.09. Roper Technologies had a return on equity of 10.73% and a net margin of 21.78%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the company posted $4.32 earnings per share. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. Equities research analysts forecast that Roper Technologies, Inc. will post 18.24 EPS for the current fiscal year.

Roper Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.825 per share. 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 is Friday, January 3rd. Roper Technologies’s dividend payout ratio (DPR) is currently 21.95%.

Insiders Place Their Bets

In other Roper Technologies news, Director Richard F. Wallman sold 1,000 shares of Roper Technologies stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $550.00, for a total value of $550,000.00. Following the completion of the sale, the director now owns 32,955 shares of the company’s stock, valued at approximately $18,125,250. This trade represents a 2.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ROP shares. Truist Financial restated a “buy” rating and set a $665.00 price target (up previously from $660.00) on shares of Roper Technologies in a report on Thursday, October 24th. Mizuho upped their target price on Roper Technologies from $530.00 to $565.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Royal Bank of Canada cut their price target on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Robert W. Baird boosted their price objective 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. Finally, Jefferies Financial Group raised their target price on shares of Roper Technologies from $625.00 to $635.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $620.80.

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.