Holocene Advisors LP Invests $9.25 Million in Roper Technologies, Inc. (NYSE:ROP)

Holocene Advisors LP bought a new stake in Roper Technologies, Inc. (NYSE:ROP) in the third quarter, HoldingsChannel.com reports. The firm bought 16,629 shares of the industrial products company’s stock, valued at approximately $9,253,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fairscale Capital LLC purchased a new stake in Roper Technologies during the 2nd quarter worth about $28,000. Fortitude Family Office LLC acquired a new stake in shares of Roper Technologies during the third quarter worth about $28,000. Valley Wealth Managers Inc. acquired a new stake in shares of Roper Technologies during the second quarter worth about $31,000. Global Wealth Strategies & Associates acquired a new stake in shares of Roper Technologies during the third quarter worth about $37,000. Finally, Kimelman & Baird LLC acquired a new stake in shares of Roper Technologies during the second quarter worth about $42,000. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

Roper Technologies Price Performance

ROP stock opened at $566.86 on Wednesday. The stock’s 50 day moving average price is $553.70 and its 200 day moving average price is $551.18. 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 market cap of $60.78 billion, a P/E ratio of 41.47, a PEG ratio of 2.97 and a beta of 1.02. Roper Technologies, Inc. has a 1 year low of $508.22 and a 1 year high of $579.10.

Roper Technologies (NYSE:ROP) last announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the prior year, the firm earned $4.32 EPS. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, sell-side analysts expect that Roper Technologies, Inc. will post 18.24 earnings per share for the current fiscal year.

Roper Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be issued a $0.825 dividend. This is an increase from Roper Technologies’s previous quarterly dividend of $0.75. This represents a $3.30 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Friday, January 3rd. Roper Technologies’s dividend payout ratio is currently 21.95%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Roper Technologies

In other Roper Technologies news, Director Richard F. Wallman sold 1,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $550.00, for a total value 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 $18,125,250. This represents a 2.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.87% of the stock is currently owned by corporate insiders.

About Roper Technologies

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.