Rakuten Investment Management Inc. Makes New Investment in Roper Technologies, Inc. $ROP

Rakuten Investment Management Inc. bought a new position in Roper Technologies, Inc. (NASDAQ:ROP) in the 3rd quarter, Holdings Channel.com reports. The firm bought 26,462 shares of the industrial products company’s stock, valued at approximately $9,247,000.

A number of other institutional investors have also added to or reduced their stakes in ROP. BlackRock Inc. bought a new position in Roper Technologies in the second quarter valued at $3,346,912,000. Wellington Management Group LLP bought a new stake in Roper Technologies during the second quarter worth about $890,328,000. Corient Private Wealth LP bought a new stake in Roper Technologies during the second quarter worth about $80,953,000. Flossbach Von Storch SE purchased a new position in shares of Roper Technologies in the 2nd quarter worth about $448,321,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings 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 worth $474,070,000 after purchasing an additional 903,223 shares in the last quarter. Institutional investors own 93.31% of the company’s stock.

Roper Technologies Stock Performance

NASDAQ ROP opened at $490.96 on Friday. The company has a 50-day simple moving average of $397.99 and a two-hundred day simple moving average of $366.83. The company has a quick ratio of 0.39, a current ratio of 0.43 and a debt-to-equity ratio of 0.43. Roper Technologies, Inc. has a 12-month low of $305.96 and a 12-month high of $507.24. The firm has a market cap of $48.62 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 2.44 and a beta of 0.67.

Roper Technologies (NASDAQ:ROP) last announced its quarterly earnings data 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 firm 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 quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the business posted $5.14 earnings per share. On average, equities analysts forecast that Roper Technologies, Inc. will post 22.38 EPS for the current year.

Roper Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 19th. Investors of record on Monday, January 4th will be issued a dividend of $1.00 per share. The ex-dividend date is Monday, January 4th. This represents a $4.00 annualized dividend and a yield of 0.8%. This is a boost from Roper Technologies’s previous quarterly dividend of $0.91. Roper Technologies’s dividend payout ratio (DPR) is currently 14.36%.

Insider Activity at Roper Technologies

In other Roper Technologies news, EVP Jason Conley sold 12,000 shares of Roper Technologies 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 transaction, the executive vice president directly owned 28,457 shares of the company’s stock, valued at $12,393,877.21. The trade was a 29.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Brandon L. Cross sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $489.30, for a total value of $978,600.00. Following the completion of the sale, the chief accounting officer owned 2,271 shares of the company’s stock, valued at $1,111,200.30. The trade was a 46.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 17,500 shares of company stock worth $7,776,600 in the last ninety days. 0.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. upgraded Roper Technologies from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $415.00 to $490.00 in a research report on Monday, October 26th. Citigroup boosted their target price on Roper Technologies from $450.00 to $525.00 and gave the stock a “buy” rating in a research report on Friday, October 23rd. Robert W. Baird set a $480.00 target price on Roper Technologies and gave the stock an “outperform” rating in a research note on Friday, July 24th. BMO Capital Markets reiterated a “market perform” rating and set a $462.00 price target (up from $393.00) on shares of Roper Technologies in a research report on Friday, October 23rd. Finally, Argus raised shares of Roper Technologies from a “hold” rating to a “buy” rating and set a $450.00 price target on the stock in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Roper Technologies has a consensus rating of “Hold” and a consensus price target of $469.41.

About Roper Technologies

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.