Roper Technologies, Inc. (NYSE:ROP) Holdings Trimmed by Progressive Investment Management Corp

Progressive Investment Management Corp lowered its holdings in Roper Technologies, Inc. (NYSE:ROP) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,374 shares of the industrial products company’s stock after selling 450 shares during the period. Roper Technologies makes up 2.3% of Progressive Investment Management Corp’s portfolio, making the stock its 19th biggest position. Progressive Investment Management Corp’s holdings in Roper Technologies were worth $9,032,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Brown Brothers Harriman & Co. lifted its stake in Roper Technologies by 2.3% in the 4th quarter. Brown Brothers Harriman & Co. now owns 2,050 shares of the industrial products company’s stock worth $1,066,000 after acquiring an additional 47 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Roper Technologies by 5.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 107,146 shares of the industrial products company’s stock worth $55,700,000 after purchasing an additional 5,642 shares in the last quarter. Broadway Wealth Solutions Inc. acquired a new stake in shares of Roper Technologies during the fourth quarter worth approximately $302,000. Norges Bank purchased a new position in Roper Technologies during the fourth quarter valued at approximately $914,052,000. Finally, NEOS Investment Management LLC increased its stake in Roper Technologies by 21.3% in the 4th quarter. NEOS Investment Management LLC now owns 12,456 shares of the industrial products company’s stock valued at $6,475,000 after buying an additional 2,191 shares during the period. Institutional investors and hedge funds own 93.31% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. TD Cowen raised shares of Roper Technologies from a “hold” rating to a “buy” rating and lifted their target price for the company from $535.00 to $615.00 in a research note on Tuesday, January 28th. Raymond James restated a “strong-buy” rating and issued a $655.00 target price (up previously from $620.00) on shares of Roper Technologies in a research note on Friday, January 31st. Oppenheimer raised their price target on Roper Technologies from $630.00 to $640.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Truist Financial reissued a “buy” rating and issued a $675.00 price target (up previously from $665.00) on shares of Roper Technologies in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Roper Technologies from $539.00 to $558.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $629.18.

Roper Technologies Price Performance

Shares of Roper Technologies stock opened at $582.64 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 fifty day simple moving average of $570.85 and a 200-day simple moving average of $553.70. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $62.57 billion, a price-to-earnings ratio of 40.63, a PEG ratio of 2.77 and a beta of 1.06.

Roper Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Friday, April 4th will be issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Friday, April 4th. Roper Technologies’s dividend payout ratio (DPR) is 23.01%.

Insider Activity

In other Roper Technologies news, VP Brandon L. Cross sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $577.83, for a total value of $433,372.50. Following the sale, the vice president now owns 1,329 shares of the company’s stock, valued at $767,936.07. This trade represents a 36.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Jason Conley sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $578.05, for a total value of $1,734,150.00. Following the transaction, the chief financial officer now owns 31,522 shares of the company’s stock, valued at approximately $18,221,292.10. This trade represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,101 shares of company stock valued at $4,712,045. 0.87% of the stock is owned by 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.