Wahed Invest LLC Purchases 236 Shares of Roper Technologies, Inc. (NYSE:ROP)

Wahed Invest LLC boosted its stake in Roper Technologies, Inc. (NYSE:ROP) by 10.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,593 shares of the industrial products company’s stock after purchasing an additional 236 shares during the period. Wahed Invest LLC’s holdings in Roper Technologies were worth $1,443,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp grew its holdings in Roper Technologies by 2.9% during the 3rd quarter. State Street Corp now owns 4,730,427 shares of the industrial products company’s stock worth $2,632,199,000 after acquiring an additional 132,575 shares during the period. Stifel Financial Corp grew its stake in shares of Roper Technologies by 0.9% in the 3rd quarter. Stifel Financial Corp now owns 51,921 shares of the industrial products company’s stock valued at $28,894,000 after buying an additional 486 shares during the period. Quantinno Capital Management LP grew its stake in shares of Roper Technologies by 13.6% in the 3rd quarter. Quantinno Capital Management LP now owns 10,175 shares of the industrial products company’s stock valued at $5,662,000 after buying an additional 1,221 shares during the period. Quarry LP acquired a new stake in shares of Roper Technologies in the 3rd quarter valued at about $193,000. Finally, Royal London Asset Management Ltd. grew its stake in shares of Roper Technologies by 1.1% in the 3rd quarter. Royal London Asset Management Ltd. now owns 109,101 shares of the industrial products company’s stock valued at $60,708,000 after buying an additional 1,233 shares during the period. 93.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ROP shares. Royal Bank of Canada dropped their price target on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Jefferies Financial Group lifted their target price 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. Mizuho lifted their target price on shares of Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Barclays reissued an “underweight” rating and set a $569.00 target price (down previously from $625.00) on shares of Roper Technologies in a research report on Thursday. Finally, Robert W. Baird raised their price target on shares of Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $615.20.

Insider Activity

In other Roper Technologies news, Director Richard F. Wallman sold 1,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $550.00, for a total value of $550,000.00. Following the sale, the director now owns 32,955 shares in the company, valued at approximately $18,125,250. This represents a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.87% of the company’s stock.

Roper Technologies Stock Performance

NYSE ROP opened at $557.90 on Friday. Roper Technologies, Inc. has a 52-week low of $508.22 and a 52-week high of $580.09. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.44 and a current ratio of 0.48. The company has a market capitalization of $59.82 billion, a P/E ratio of 40.81, a P/E/G ratio of 2.96 and a beta of 1.02. The company has a fifty day moving average of $554.36 and a 200-day moving average of $551.40.

Roper Technologies (NYSE:ROP) last posted its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share for the quarter, topping the consensus estimate of $4.53 by $0.09. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.72 billion. Roper Technologies had a net margin of 21.78% and a return on equity of 10.73%. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm posted $4.32 earnings per share. As a group, equities research analysts predict that Roper Technologies, Inc. will post 18.24 EPS for the current fiscal year.

Roper Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 0.59%. This is an increase from Roper Technologies’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, January 3rd. Roper Technologies’s dividend payout ratio is 21.95%.

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.