Parnassus Investments LLC Trims Stock Holdings in Roper Technologies, Inc. (NYSE:ROP)

Parnassus Investments LLC lowered its holdings in shares of Roper Technologies, Inc. (NYSE:ROP) by 6.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 179,137 shares of the industrial products company’s stock after selling 12,051 shares during the quarter. Parnassus Investments LLC’s holdings in Roper Technologies were worth $93,124,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Savvy Advisors Inc. boosted its stake in shares of Roper Technologies by 15.3% during the third quarter. Savvy Advisors Inc. now owns 414 shares of the industrial products company’s stock valued at $230,000 after purchasing an additional 55 shares during the period. First Heartland Consultants Inc. boosted its position in Roper Technologies by 4.4% in the 3rd quarter. First Heartland Consultants Inc. now owns 571 shares of the industrial products company’s stock valued at $318,000 after buying an additional 24 shares during the period. Haverford Trust Co grew its stake in Roper Technologies by 18.2% in the 3rd quarter. Haverford Trust Co now owns 1,525 shares of the industrial products company’s stock worth $849,000 after acquiring an additional 235 shares in the last quarter. MQS Management LLC bought a new position in Roper Technologies in the 3rd quarter worth about $534,000. Finally, Oppenheimer & Co. Inc. increased its position in shares of Roper Technologies by 2.2% during the third quarter. Oppenheimer & Co. Inc. now owns 5,277 shares of the industrial products company’s stock worth $2,936,000 after acquiring an additional 115 shares during the period. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ROP shares. Oppenheimer increased their price objective on Roper Technologies from $630.00 to $640.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. TD Cowen upgraded Roper Technologies from a “hold” rating to a “buy” rating and raised their price target for the company from $535.00 to $615.00 in a research note on Tuesday, January 28th. JPMorgan Chase & Co. upped their price objective on shares of Roper Technologies from $539.00 to $558.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Truist Financial reiterated a “buy” rating and set a $675.00 target price (up from $665.00) on shares of Roper Technologies in a report on Friday, January 31st. Finally, Raymond James reiterated a “strong-buy” rating and set a $655.00 price objective (up from $620.00) on shares of Roper Technologies in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $623.60.

Insider Buying and Selling at Roper Technologies

In other news, VP John K. Stipancich sold 1,000 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $578.04, for a total transaction of $578,040.00. Following the sale, the vice president now directly owns 38,932 shares of the company’s stock, valued at $22,504,253.28. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jason Conley sold 3,000 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $588.19, for a total value of $1,764,570.00. Following the completion of the transaction, the chief financial officer now owns 31,522 shares of the company’s stock, valued at $18,540,925.18. This trade represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,101 shares of company stock worth $4,712,045. 0.87% of the stock is owned by corporate insiders.

Roper Technologies Trading Down 0.6 %

Shares of NYSE:ROP opened at $562.88 on Friday. Roper Technologies, Inc. has a 1 year low of $499.47 and a 1 year high of $595.17. The firm has a market capitalization of $60.44 billion, a P/E ratio of 39.25, a P/E/G ratio of 2.77 and a beta of 1.06. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.40 and a quick ratio of 0.37. The business’s 50-day moving average is $556.24 and its 200 day moving average is $551.74.

Roper Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Friday, April 4th will be given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend is Friday, April 4th. Roper Technologies’s dividend payout ratio is presently 23.01%.

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.