Brokerages Set Roper Technologies, Inc. (NYSE:ROP) Target Price at $616.00

Shares of Roper Technologies, Inc. (NYSE:ROP) have received a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $616.00.

Several equities research analysts have recently weighed in on ROP shares. Robert W. Baird raised shares of Roper Technologies from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $617.00 to $635.00 in a report on Thursday, July 25th. Royal Bank of Canada increased their target price on Roper Technologies from $674.00 to $675.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Barclays upped their price target on shares of Roper Technologies from $611.00 to $625.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Oppenheimer dropped their price objective on shares of Roper Technologies from $650.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Finally, Truist Financial reiterated a “buy” rating and issued a $660.00 price objective on shares of Roper Technologies in a research report on Tuesday, August 27th.

Insiders Place Their Bets

In related news, CFO Jason Conley sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $563.02, for a total value of $1,970,570.00. Following the completion of the transaction, the chief financial officer now directly owns 33,685 shares in the company, valued at approximately $18,965,328.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Robert D. Johnson sold 140 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $550.34, for a total transaction of $77,047.60. Following the completion of the transaction, the director now directly owns 5,909 shares of the company’s stock, valued at $3,251,959.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jason Conley sold 3,500 shares of Roper Technologies stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $563.02, for a total value of $1,970,570.00. Following the completion of the sale, the chief financial officer now directly owns 33,685 shares in the company, valued at approximately $18,965,328.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,940 shares of company stock worth $2,214,019. Corporate insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Roper Technologies

Hedge funds have recently made changes to their positions in the business. New Covenant Trust Company N.A. acquired a new position in Roper Technologies during the first quarter valued at approximately $25,000. Rise Advisors LLC bought a new position in shares of Roper Technologies in the first quarter valued at $27,000. Fairscale Capital LLC acquired a new position in Roper Technologies during the second quarter worth $28,000. OFI Invest Asset Management bought a new stake in Roper Technologies during the first quarter worth $29,000. Finally, Versant Capital Management Inc lifted its stake in Roper Technologies by 58.8% in the second quarter. Versant Capital Management Inc now owns 54 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 20 shares during the last quarter. 93.31% of the stock is owned by institutional investors.

Roper Technologies Stock Performance

Shares of ROP stock opened at $554.41 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.53 and a quick ratio of 0.48. The firm has a market cap of $59.35 billion, a P/E ratio of 40.23, a PEG ratio of 2.88 and a beta of 1.02. Roper Technologies has a fifty-two week low of $474.46 and a fifty-two week high of $579.10. The stock’s 50-day moving average is $549.69 and its two-hundred day moving average is $544.58.

Roper Technologies (NYSE:ROP) last posted its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $4.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.46 by $0.02. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.72 billion. Roper Technologies had a net margin of 22.14% and a return on equity of 10.77%. Analysts predict that Roper Technologies will post 18.16 earnings per share for the current fiscal year.

Roper Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Monday, July 8th. Roper Technologies’s dividend payout ratio is currently 21.77%.

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.