Parnassus Investments LLC Sells 3,729 Shares of Roper Technologies, Inc. (NYSE:ROP)

Parnassus Investments LLC reduced its stake in Roper Technologies, Inc. (NYSE:ROP) by 1.9% during the third quarter, Holdings Channel.com reports. The firm owned 191,188 shares of the industrial products company’s stock after selling 3,729 shares during the quarter. Parnassus Investments LLC’s holdings in Roper Technologies were worth $106,385,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Ledyard National Bank increased its stake in shares of Roper Technologies by 2.1% during the third quarter. Ledyard National Bank now owns 896 shares of the industrial products company’s stock valued at $499,000 after buying an additional 18 shares during the period. Western Financial Corp CA raised its holdings in shares of Roper Technologies by 1.1% in the 2nd quarter. Western Financial Corp CA now owns 1,727 shares of the industrial products company’s stock valued at $973,000 after purchasing an additional 19 shares in the last quarter. AMG National Trust Bank lifted its position in shares of Roper Technologies by 5.1% in the 2nd quarter. AMG National Trust Bank now owns 391 shares of the industrial products company’s stock worth $220,000 after purchasing an additional 19 shares during the period. Covestor Ltd boosted its stake in shares of Roper Technologies by 50.0% during the first quarter. Covestor Ltd now owns 60 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 20 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in Roper Technologies by 58.8% during the second quarter. Versant Capital Management Inc now owns 54 shares of the industrial products company’s stock valued at $30,000 after buying an additional 20 shares during the period. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Richard F. Wallman sold 1,000 shares of the 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 completion of the sale, the director now directly owns 32,955 shares in the company, valued at $18,125,250. This represents a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.87% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Oppenheimer dropped their target price on Roper Technologies from $650.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Royal Bank of Canada dropped their price objective on Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Truist Financial reiterated a “buy” rating and issued a $665.00 target price (up from $660.00) on shares of Roper Technologies in a report on Thursday, October 24th. Robert W. Baird raised their price target on shares of Roper Technologies from $635.00 to $652.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Mizuho boosted their price objective on shares of Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $620.80.

Roper Technologies Stock Performance

Shares of NYSE ROP opened at $549.37 on Tuesday. The stock has a market cap of $58.91 billion, a price-to-earnings ratio of 30.66, a PEG ratio of 2.86 and a beta of 1.03. Roper Technologies, Inc. has a 12 month low of $508.22 and a 12 month high of $579.10. The company has a 50 day simple moving average of $552.31 and a two-hundred day simple moving average of $548.46. The company has a current ratio of 0.48, a quick ratio of 0.44 and a debt-to-equity ratio of 0.41.

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

Roper Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.825 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.60%. This is a boost from Roper Technologies’s previous quarterly dividend of $0.75. Roper Technologies’s dividend payout ratio is presently 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.