Roper Technologies, Inc. (NYSE:ROP) Position Cut by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp trimmed its holdings in Roper Technologies, Inc. (NYSE:ROP) by 20.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,667 shares of the industrial products company’s stock after selling 4,415 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Roper Technologies were worth $9,958,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. New Covenant Trust Company N.A. bought a new position in Roper Technologies in the 1st quarter worth approximately $25,000. Rise Advisors LLC bought a new position in Roper Technologies during the 1st quarter valued at $27,000. Versant Capital Management Inc boosted its stake in Roper Technologies by 58.8% during the 2nd quarter. Versant Capital Management Inc now owns 54 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 20 shares in the last quarter. OFI Invest Asset Management bought a new position in Roper Technologies during the 1st quarter valued at $29,000. Finally, Covestor Ltd boosted its stake in Roper Technologies by 50.0% during the 1st quarter. Covestor Ltd now owns 60 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 20 shares in the last quarter. 93.31% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Robert D. Johnson sold 140 shares of the stock in a transaction on 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 sale, the director now directly owns 5,909 shares in the company, valued at $3,251,959.06. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Jason Conley sold 3,500 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $563.02, for a total transaction 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 $18,965,328.70. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robert D. Johnson sold 140 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $550.34, for a total value of $77,047.60. Following the sale, the director now owns 5,909 shares of the company’s stock, valued at $3,251,959.06. The disclosure for this sale can be found here. Corporate insiders own 0.87% of the company’s stock.

Roper Technologies Price Performance

ROP opened at $553.39 on Tuesday. The stock has a fifty day moving average of $548.69 and a 200-day moving average of $544.90. The firm has a market capitalization of $59.32 billion, a P/E ratio of 40.16, a PEG ratio of 2.87 and a beta of 1.02. Roper Technologies, Inc. has a 12-month low of $474.46 and a 12-month high of $579.10. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.38.

Roper Technologies (NYSE:ROP) last released its earnings results on Wednesday, July 24th. The industrial products company reported $4.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.46 by $0.02. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.72 billion. Roper Technologies had a return on equity of 10.77% and a net margin of 22.14%. Equities analysts forecast that Roper Technologies, Inc. will post 18.16 EPS for the current fiscal year.

Roper Technologies Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wolfe Research lowered Roper Technologies from an “outperform” rating to a “peer perform” rating in a research note on Thursday, June 13th. Barclays increased their price target on Roper Technologies from $611.00 to $625.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Royal Bank of Canada increased their price target on Roper Technologies from $674.00 to $675.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Truist Financial reissued a “buy” rating and set a $660.00 price objective on shares of Roper Technologies in a research note on Tuesday, August 27th. Finally, Baird R W raised Roper Technologies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $616.00.

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.