New York State Common Retirement Fund Lowers Stock Holdings in Roper Technologies, Inc. (NYSE:ROP)

New York State Common Retirement Fund lowered its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 7.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 154,479 shares of the industrial products company’s stock after selling 11,849 shares during the quarter. New York State Common Retirement Fund owned about 0.14% of Roper Technologies worth $84,217,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. OFI Invest Asset Management acquired a new stake in Roper Technologies in the third quarter valued at about $25,000. Altshuler Shaham Ltd acquired a new stake in Roper Technologies in the third quarter valued at about $27,000. Independence Bank of Kentucky acquired a new stake in Roper Technologies in the fourth quarter valued at about $31,000. Wetzel Investment Advisors Inc. acquired a new stake in Roper Technologies in the fourth quarter valued at about $31,000. Finally, Lee Financial Co acquired a new stake in Roper Technologies in the third quarter valued at about $34,000. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Insider Buying and Selling at Roper Technologies

In other news, Director Christopher Wright sold 200 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $549.71, for a total transaction of $109,942.00. Following the completion of the sale, the director now directly owns 35,547 shares in the company, valued at approximately $19,540,541.37. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.94% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently commented on ROP. Royal Bank of Canada raised their price objective on shares of Roper Technologies from $620.00 to $622.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Mizuho raised their price objective on shares of Roper Technologies from $500.00 to $525.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. Raymond James lifted their price target on shares of Roper Technologies from $572.00 to $620.00 and gave the company a “strong-buy” rating in a research report on Friday, February 2nd. Wells Fargo & Company lifted their price target on shares of Roper Technologies from $560.00 to $615.00 and gave the company an “overweight” rating in a research report on Monday, January 22nd. Finally, TD Cowen downgraded shares of Roper Technologies from an “outperform” rating to a “market perform” rating and set a $535.00 price target for the company. in a research report on Thursday, January 4th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $574.58.

Roper Technologies Price Performance

Shares of Roper Technologies stock traded up $2.84 during trading on Tuesday, hitting $541.95. 98,285 shares of the company were exchanged, compared to its average volume of 495,011. The company has a quick ratio of 0.46, a current ratio of 0.50 and a debt-to-equity ratio of 0.33. Roper Technologies, Inc. has a fifty-two week low of $430.03 and a fifty-two week high of $565.00. The stock has a market capitalization of $58.00 billion, a price-to-earnings ratio of 41.82, a P/E/G ratio of 2.82 and a beta of 0.99. The firm has a 50 day moving average price of $545.57 and a 200 day moving average price of $532.77.

Roper Technologies (NYSE:ROP) last issued its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.34 by $0.03. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.58 billion. Roper Technologies had a return on equity of 10.63% and a net margin of 22.41%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.92 EPS. On average, equities analysts expect that Roper Technologies, Inc. will post 18.07 earnings per share for the current fiscal year.

Roper Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Friday, April 5th were issued a $0.75 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $3.00 annualized dividend and a yield of 0.55%. Roper Technologies’s dividend payout ratio (DPR) is presently 23.27%.

About Roper Technologies

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.