Roper Technologies, Inc. (NYSE:ROP) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 0.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 24,631 shares of the industrial products company’s stock after acquiring an additional 106 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Roper Technologies were worth $13,884,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Roper Technologies by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 10,072,028 shares of the industrial products company’s stock valued at $5,648,796,000 after purchasing an additional 125,387 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Roper Technologies by 4.0% in the second quarter. Principal Financial Group Inc. now owns 2,683,909 shares of the industrial products company’s stock worth $1,512,813,000 after buying an additional 102,199 shares during the period. Bank of New York Mellon Corp increased its position in shares of Roper Technologies by 5.5% in the first quarter. Bank of New York Mellon Corp now owns 1,314,972 shares of the industrial products company’s stock worth $737,489,000 after acquiring an additional 68,957 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Roper Technologies by 4.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 805,757 shares of the industrial products company’s stock valued at $451,901,000 after acquiring an additional 33,780 shares during the period. Finally, Mirova US LLC lifted its position in shares of Roper Technologies by 2.1% in the 2nd quarter. Mirova US LLC now owns 700,651 shares of the industrial products company’s stock valued at $394,929,000 after acquiring an additional 14,501 shares in the last quarter. 93.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ROP shares. Robert W. Baird upgraded shares of Roper Technologies from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $617.00 to $635.00 in a research report on Thursday, July 25th. Wolfe Research lowered Roper Technologies from an “outperform” rating to a “peer perform” rating in a research report on Thursday, June 13th. Oppenheimer decreased their price objective on Roper Technologies from $650.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Jefferies Financial Group increased their price target 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. Finally, Truist Financial reaffirmed a “buy” rating and set a $660.00 price objective on shares of Roper Technologies in a research report on Tuesday, August 27th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $616.00.

Insider Activity at Roper Technologies

In other Roper Technologies news, Director Robert D. Johnson sold 140 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $550.34, for a total transaction of $77,047.60. Following the completion of the sale, the director now directly owns 5,909 shares in the company, valued at $3,251,959.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.87% of the stock is currently owned by company insiders.

Roper Technologies Stock Down 0.5 %

Roper Technologies stock opened at $558.04 on Friday. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.38. Roper Technologies, Inc. has a 1-year low of $474.46 and a 1-year high of $579.10. The firm’s fifty day simple moving average is $547.91 and its 200-day simple moving average is $545.30. The company has a market capitalization of $59.74 billion, a P/E ratio of 40.50, a P/E/G ratio of 2.92 and a beta of 1.02.

Roper Technologies (NYSE:ROP) last announced its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $4.48 earnings per share for the quarter, topping analysts’ consensus estimates of $4.46 by $0.02. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Roper Technologies had a return on equity of 10.77% and a net margin of 22.14%. Sell-side analysts forecast that Roper Technologies, Inc. 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 will be paid on Monday, October 21st. Investors of record on Tuesday, October 8th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Tuesday, October 8th. Roper Technologies’s dividend payout ratio is currently 21.77%.

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.