Procyon Advisors LLC Boosts Stake in Roper Technologies, Inc. (NYSE:ROP)

Procyon Advisors LLC boosted its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 2.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,505 shares of the industrial products company’s stock after buying an additional 56 shares during the period. Procyon Advisors LLC’s holdings in Roper Technologies were worth $1,405,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Rise Advisors LLC purchased a new stake in shares of Roper Technologies during the 1st quarter valued at $27,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of Roper Technologies during the 4th quarter valued at $31,000. Independence Bank of Kentucky purchased a new stake in shares of Roper Technologies during the 4th quarter valued at $31,000. VisionPoint Advisory Group LLC purchased a new stake in shares of Roper Technologies during the 4th quarter valued at $32,000. Finally, Grayhawk Investment Strategies Inc. purchased a new stake in shares of Roper Technologies during the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Insider Activity at Roper Technologies

In other Roper Technologies news, CFO Jason Conley sold 3,500 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $563.02, for a total value of $1,970,570.00. Following the completion of the transaction, the chief financial officer now owns 33,685 shares in the company, valued at $18,965,328.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Roper Technologies news, CFO Jason Conley sold 3,500 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $563.02, for a total value of $1,970,570.00. Following the completion of the transaction, the chief financial officer now owns 33,685 shares in the company, valued at $18,965,328.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christopher Wright sold 300 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $554.67, for a total transaction of $166,401.00. Following the completion of the transaction, the director now owns 35,247 shares of the company’s stock, valued at approximately $19,550,453.49. The disclosure for this sale can be found here. 0.87% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ROP has been the subject of several analyst reports. Barclays increased their price objective on Roper Technologies from $596.00 to $600.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Oppenheimer reissued an “outperform” rating and issued a $650.00 target price on shares of Roper Technologies in a research report on Monday, April 29th. Mizuho upped their target price on Roper Technologies from $525.00 to $530.00 and gave the company a “neutral” rating in a research report on Monday, April 29th. Wolfe Research downgraded Roper Technologies from an “outperform” rating to a “peer perform” rating in a research report on Thursday, June 13th. Finally, Royal Bank of Canada cut their target price on Roper Technologies from $696.00 to $680.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Four 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $584.82.

Roper Technologies Stock Performance

ROP traded up $4.52 during midday trading on Thursday, hitting $562.06. 435,495 shares of the company were exchanged, compared to its average volume of 518,122. The company’s 50 day simple moving average is $538.79 and its 200 day simple moving average is $542.31. The firm has a market capitalization of $60.16 billion, a price-to-earnings ratio of 40.76, a price-to-earnings-growth ratio of 2.95 and a beta of 1.01. The company has a current ratio of 0.49, a quick ratio of 0.45 and a debt-to-equity ratio of 0.41. Roper Technologies, Inc. has a 1-year low of $469.61 and a 1-year high of $568.68.

Roper Technologies (NYSE:ROP) last announced its earnings results on Friday, April 26th. The industrial products company reported $4.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.34 by $0.07. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.65 billion. Roper Technologies had a return on equity of 10.75% and a net margin of 23.21%. The firm’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.90 earnings per share. As a group, sell-side analysts predict that Roper Technologies, Inc. will post 18.17 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, July 22nd. Investors of record on Monday, July 8th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 0.53%. The ex-dividend date is Monday, July 8th. Roper Technologies’s dividend payout ratio (DPR) is presently 21.77%.

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.