Roper Technologies (NASDAQ:ROP) Hits New 1-Year High – Here’s Why

Roper Technologies, Inc. (NASDAQ:ROP) shares reached a new 52-week high during mid-day trading on Friday. The company traded as high as $457.91 and last traded at $457.91, with a volume of 13,548 shares. The stock had previously closed at $449.65.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group cut their price target on Roper Technologies from $414.00 to $410.00 and set a “neutral” rating for the company in a research note on Friday, July 24th. Raymond James Financial lowered shares of Roper Technologies from a “strong-buy” rating to a “market perform” rating in a research note on Wednesday, July 22nd. Mizuho set a $355.00 target price on shares of Roper Technologies in a research report on Tuesday, July 21st. Citigroup boosted their price target on shares of Roper Technologies from $450.00 to $525.00 and gave the company a “buy” rating in a report on Friday, October 23rd. Finally, Jefferies Financial Group upped their price target on Roper Technologies from $500.00 to $540.00 and gave the stock a “buy” rating in a research report on Thursday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Roper Technologies has an average rating of “Hold” and an average target price of $469.41.

Roper Technologies Trading Up 3.1%

The firm has a market capitalization of $45.84 billion, a PE ratio of 18.22, a PEG ratio of 2.19 and a beta of 0.75. The business has a fifty day moving average price of $391.22 and a two-hundred day moving average price of $365.38. The company has a current ratio of 0.43, a quick ratio of 0.39 and a debt-to-equity ratio of 0.43.

Roper Technologies (NASDAQ:ROP) last announced its earnings results on Thursday, October 22nd. The industrial products company reported $5.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.79 by $0.10. The company had revenue of $2.17 billion for the quarter. Roper Technologies had a return on equity of 11.64% and a net margin of 30.71%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.14 EPS. Analysts expect that Roper Technologies, Inc. will post 22.38 EPS for the current fiscal year.

Roper Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 21st. Shareholders of record on Friday, October 2nd were paid a $0.91 dividend. The ex-dividend date was Friday, October 2nd. This represents a $3.64 dividend on an annualized basis and a yield of 0.8%. Roper Technologies’s payout ratio is currently 14.36%.

Insider Buying and Selling

In related news, EVP Jason Conley sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $435.53, for a total value of $5,226,360.00. Following the completion of the transaction, the executive vice president directly owned 28,457 shares of the company’s stock, valued at $12,393,877.21. This trade represents a 29.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John Stipancich sold 3,500 shares of the firm’s stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $449.04, for a total transaction of $1,571,640.00. Following the sale, the executive vice president directly owned 35,434 shares in the company, valued at $15,911,283.36. This represents a 8.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.80% of the stock is owned by insiders.

Institutional Trading of Roper Technologies

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in Roper Technologies in the 2nd quarter valued at about $3,346,912,000. Wellington Management Group LLP purchased a new stake in Roper Technologies during the second quarter valued at about $890,328,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Roper Technologies by 206.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,339,710 shares of the industrial products company’s stock valued at $474,070,000 after acquiring an additional 903,223 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Roper Technologies by 6.1% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,367,260 shares of the industrial products company’s stock worth $462,667,000 after buying an additional 78,713 shares during the period. Finally, Flossbach Von Storch SE acquired a new stake in Roper Technologies during the 2nd quarter worth about $448,321,000. Institutional investors own 93.31% of the company’s stock.

Roper Technologies Company Profile

Roper Technologies, Inc is a diversified technology company that develops and acquires businesses serving specialized markets. Its portfolio includes application software, network software and technology-enabled products used by businesses, healthcare organizations, government agencies and other institutions.

The company’s software businesses provide solutions for areas such as education administration, healthcare information management, enterprise asset management, compliance, legal and construction workflows, and financial services.