SPC Financial Inc. Increases Position in Roper Technologies, Inc. (NYSE:ROP)

SPC Financial Inc. grew its holdings in Roper Technologies, Inc. (NYSE:ROP) by 1,086.7% during the second quarter, HoldingsChannel reports. The firm owned 5,625 shares of the industrial products company’s stock after acquiring an additional 5,151 shares during the period. SPC Financial Inc.’s holdings in Roper Technologies were worth $3,171,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its stake 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 worth $5,648,796,000 after acquiring an additional 125,387 shares during the last quarter. Principal Financial Group Inc. increased its stake in Roper Technologies by 4.0% during 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 acquiring an additional 102,199 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of Roper Technologies by 3.1% in the 2nd quarter. Mackenzie Financial Corp now owns 1,119,023 shares of the industrial products company’s stock valued at $630,749,000 after purchasing an additional 33,544 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Roper Technologies by 7.6% during the 2nd quarter. Legal & General Group Plc now owns 914,499 shares of the industrial products company’s stock worth $515,467,000 after purchasing an additional 64,565 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Roper Technologies by 4.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 805,757 shares of the industrial products company’s stock worth $451,901,000 after purchasing an additional 33,780 shares during the period. 93.31% of the stock is currently owned by institutional investors and hedge funds.

Roper Technologies Price Performance

Shares of ROP opened at $556.44 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.48 and a current ratio of 0.53. Roper Technologies, Inc. has a fifty-two week low of $474.46 and a fifty-two week high of $579.10. The firm has a 50-day simple moving average of $546.08 and a 200-day simple moving average of $545.55. The company has a market capitalization of $59.56 billion, a price-to-earnings ratio of 40.38, a price-to-earnings-growth ratio of 2.89 and a beta of 1.02.

Roper Technologies (NYSE:ROP) last posted its quarterly earnings data 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. Roper Technologies had a return on equity of 10.77% and a net margin of 22.14%. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.72 billion. On average, equities research analysts anticipate that Roper Technologies, Inc. will post 18.16 earnings per share for the current year.

Roper Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Tuesday, October 8th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Tuesday, October 8th. Roper Technologies’s dividend payout ratio (DPR) is currently 21.77%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Jefferies Financial Group upped their target price on shares of Roper Technologies from $625.00 to $635.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Oppenheimer decreased their price objective on shares of Roper Technologies from $650.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. 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. Barclays boosted their target price on Roper Technologies from $611.00 to $625.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Finally, Robert W. Baird upgraded Roper Technologies from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $617.00 to $635.00 in a research report on Thursday, July 25th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $616.00.

Insider Buying and Selling

In other Roper Technologies news, Director Robert D. Johnson sold 140 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $550.34, for a total value 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 sale was disclosed in a filing with the SEC, which is available at this link. 0.87% of the stock is owned by insiders.

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.