Roper Technologies (NYSE:ROP) Sets New 52-Week High – Time to Buy?

Roper Technologies, Inc. (NYSE:ROP) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $584.31 and last traded at $570.60, with a volume of 1153765 shares. The stock had previously closed at $543.02.

Analyst Upgrades and Downgrades

ROP has been the subject of several analyst reports. Mizuho upped their price objective on Roper Technologies from $530.00 to $565.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. TD Cowen raised Roper Technologies from a “hold” rating to a “buy” rating and increased their price target for the stock from $535.00 to $615.00 in a report on Tuesday. Royal Bank of Canada dropped their price objective on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Robert W. Baird raised their target price 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. Finally, Barclays dropped their target price on Roper Technologies from $569.00 to $562.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Roper Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $623.33.

Roper Technologies Stock Performance

The company has a quick ratio of 0.44, a current ratio of 0.48 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $61.19 billion, a price-to-earnings ratio of 41.74, a PEG ratio of 2.55 and a beta of 1.04. The firm has a fifty day moving average of $535.28 and a 200-day moving average of $544.69.

Roper Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 3rd were paid a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 0.58%. This is a boost from Roper Technologies’s previous quarterly dividend of $0.75. The ex-dividend date was Friday, January 3rd. Roper Technologies’s dividend payout ratio is presently 24.14%.

Hedge Funds Weigh In On Roper Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ROP. Principal Securities Inc. lifted its position in shares of Roper Technologies by 0.5% in the fourth quarter. Principal Securities Inc. now owns 4,291 shares of the industrial products company’s stock valued at $2,231,000 after acquiring an additional 20 shares in the last quarter. Roxbury Financial LLC purchased a new position in Roper Technologies in the 4th quarter valued at about $1,025,000. Lord & Richards Wealth Management LLC acquired a new stake in shares of Roper Technologies during the 4th quarter worth about $492,000. Manchester Capital Management LLC grew its holdings in shares of Roper Technologies by 1.6% during the fourth quarter. Manchester Capital Management LLC now owns 1,139 shares of the industrial products company’s stock worth $592,000 after buying an additional 18 shares in the last quarter. Finally, WealthPlan Investment Management LLC raised its position in shares of Roper Technologies by 18.1% in the fourth quarter. WealthPlan Investment Management LLC now owns 5,884 shares of the industrial products company’s stock valued at $3,059,000 after buying an additional 900 shares during the last quarter. Institutional investors and hedge funds own 93.31% of the company’s stock.

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.