Allspring Global Investments Holdings LLC Sells 767 Shares of Roper Technologies, Inc. (NYSE:ROP)

Allspring Global Investments Holdings LLC reduced its holdings in shares of Roper Technologies, Inc. (NYSE:ROP) by 7.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,246 shares of the industrial products company’s stock after selling 767 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Roper Technologies were worth $5,041,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. OFI Invest Asset Management bought a new position in Roper Technologies in the third quarter valued at $25,000. Altshuler Shaham Ltd bought a new position in shares of Roper Technologies in the 3rd quarter valued at about $27,000. Independence Bank of Kentucky acquired a new stake in shares of Roper Technologies in the fourth quarter valued at about $31,000. Lee Financial Co bought a new stake in Roper Technologies during the third quarter worth about $34,000. Finally, Compass Wealth Management LLC acquired a new position in Roper Technologies during the fourth quarter valued at approximately $30,000. 93.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ROP has been the topic of several recent analyst reports. Barclays boosted their price target on Roper Technologies from $596.00 to $600.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Mizuho upped their price target on shares of Roper Technologies from $500.00 to $525.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Oppenheimer increased their price target on shares of Roper Technologies from $580.00 to $650.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Royal Bank of Canada boosted their price objective on shares of Roper Technologies from $620.00 to $622.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Finally, TD Cowen downgraded shares of Roper Technologies from an “outperform” rating to a “market perform” rating and set a $535.00 target price for the company. in a research note on Thursday, January 4th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $574.58.

Insiders Place Their Bets

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

Roper Technologies Price Performance

Shares of NYSE ROP opened at $527.27 on Friday. The firm has a market cap of $56.43 billion, a P/E ratio of 40.91, a price-to-earnings-growth ratio of 2.78 and a beta of 0.99. The business’s 50 day moving average is $545.95 and its 200-day moving average is $531.40. The company has a current ratio of 0.50, a quick ratio of 0.46 and a debt-to-equity ratio of 0.33. Roper Technologies, Inc. has a 1-year low of $430.03 and a 1-year high of $565.00.

Roper Technologies (NYSE:ROP) last posted its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $4.37 earnings per share for the quarter, topping the consensus estimate of $4.34 by $0.03. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations 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 quarter last year, the business earned $3.92 EPS. Equities research analysts predict that Roper Technologies, Inc. will post 18.07 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, April 22nd. Shareholders of record on Friday, April 5th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.57%. Roper Technologies’s payout ratio 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.