Victory Capital Management Inc. Boosts Holdings in Roper Technologies, Inc. (NYSE:ROP)

Victory Capital Management Inc. lifted its position in shares of Roper Technologies, Inc. (NYSE:ROP) by 76.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 88,570 shares of the industrial products company’s stock after buying an additional 38,487 shares during the quarter. Victory Capital Management Inc.’s holdings in Roper Technologies were worth $48,286,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. OFI Invest Asset Management purchased a new stake in shares of Roper Technologies during the third quarter worth about $25,000. Altshuler Shaham Ltd purchased a new stake in shares of Roper Technologies during the third quarter worth about $27,000. Independence Bank of Kentucky purchased a new stake in shares of Roper Technologies during the fourth quarter worth about $31,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of Roper Technologies during the fourth quarter worth about $31,000. Finally, Lee Financial Co purchased a new stake in shares of Roper Technologies during the third quarter worth about $34,000. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Barclays raised their target price on shares of Roper Technologies from $596.00 to $600.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Wells Fargo & Company lifted their price target on shares of Roper Technologies from $560.00 to $615.00 and gave the stock an “overweight” rating in a research note on Monday, January 22nd. Raymond James lifted their price target on shares of Roper Technologies from $572.00 to $620.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 2nd. Oppenheimer reiterated an “outperform” rating and set a $650.00 target price on shares of Roper Technologies in a research note on Monday, April 29th. Finally, Royal Bank of Canada lowered their target price on shares of Roper Technologies from $696.00 to $680.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Roper Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $584.82.

Insiders Place Their Bets

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

Roper Technologies Stock Performance

ROP stock opened at $517.21 on Monday. Roper Technologies, Inc. has a fifty-two week low of $441.06 and a fifty-two week high of $565.00. The company has a quick ratio of 0.45, a current ratio of 0.49 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $55.36 billion, a P/E ratio of 30.03, a PEG ratio of 2.71 and a beta of 1.00. The company has a 50-day simple moving average of $541.39 and a 200 day simple moving average of $534.35.

Roper Technologies (NYSE:ROP) last issued its quarterly earnings results on Friday, April 26th. The industrial products company reported $4.41 earnings per share for the quarter, beating analysts’ consensus estimates of $4.34 by $0.07. Roper Technologies had a net margin of 23.21% and a return on equity of 10.75%. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the company earned $3.90 EPS. Roper Technologies’s revenue was up 14.4% on a year-over-year basis. Sell-side analysts predict that Roper Technologies, Inc. will post 18.16 earnings per share for the current fiscal year.

Roper Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Friday, April 5th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Thursday, April 4th. Roper Technologies’s payout ratio is 21.77%.

Roper Technologies Profile

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.