Roper Technologies (NASDAQ:ROP) Reaches New 1-Year High Following Dividend Announcement

Roper Technologies, Inc. (NASDAQ:ROP) shares hit a new 52-week high on Thursday after the company announced a dividend. The company traded as high as $497.99 and last traded at $497.5660, with a volume of 42,760 shares trading hands. The stock had previously closed at $492.22.

The newly announced dividend which will be paid on Tuesday, January 19th. Stockholders of record on Monday, January 4th will be paid a dividend of $1.00 per share. This is a positive change from Roper Technologies’s previous quarterly dividend of $0.91. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, January 4th. Roper Technologies’s payout ratio is currently 14.36%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ROP shares. Jefferies Financial Group lifted their price objective on shares of Roper Technologies from $500.00 to $540.00 and gave the stock a “buy” rating in a research report on Thursday, October 22nd. Weiss Ratings raised Roper Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, October 20th. Robert W. Baird set a $480.00 price target on Roper Technologies and gave the stock an “outperform” rating in a report on Friday, July 24th. JPMorgan Chase & Co. upgraded shares of Roper Technologies from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $415.00 to $490.00 in a report on Monday, October 26th. Finally, Argus upgraded 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 research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $469.41.

Roper Technologies Trading Up 1.4%

The company has a quick ratio of 0.39, a current ratio of 0.43 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $49.45 billion, a PE ratio of 19.60, a P/E/G ratio of 2.35 and a beta of 0.67. The business’s fifty day moving average is $396.43 and its 200-day moving average is $366.45.

Roper Technologies (NASDAQ:ROP) last posted its quarterly earnings data on Thursday, October 22nd. The industrial products company reported $5.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.79 by $0.10. The company 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%. Roper Technologies’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.14 earnings per share. As a group, analysts anticipate that Roper Technologies, Inc. will post 22.38 EPS for the current fiscal year.

Insider Buying and Selling at Roper Technologies

In related news, EVP Jason Conley sold 12,000 shares of the company’s stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $435.53, for a total transaction of $5,226,360.00. Following the sale, the executive vice president owned 28,457 shares in the company, valued at approximately $12,393,877.21. This represents a 29.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John K. Stipancich sold 3,500 shares of Roper Technologies stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $449.04, for a total value of $1,571,640.00. Following the sale, the executive vice president directly owned 35,434 shares of the company’s stock, valued at approximately $15,911,283.36. The trade was a 8.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ROP. Core Capital Management & Research inc. purchased a new position in shares of Roper Technologies in the second quarter valued at about $2,472,000. PNC Financial Services Group Inc. lifted its position in Roper Technologies by 14.5% in the first quarter. PNC Financial Services Group Inc. now owns 34,615 shares of the industrial products company’s stock worth $12,249,000 after buying an additional 4,384 shares during the last quarter. Banyan Capital Management Inc. bought a new stake in shares of Roper Technologies during the 1st quarter worth approximately $6,439,000. Tidal Investments LLC grew its position in shares of Roper Technologies by 39.5% during the 2nd quarter. Tidal Investments LLC now owns 21,533 shares of the industrial products company’s stock worth $7,287,000 after buying an additional 6,098 shares in the last quarter. Finally, Paralel Advisors LLC purchased a new position in shares of Roper Technologies in the 2nd quarter worth approximately $2,210,000. Institutional investors own 93.31% of the company’s stock.

Roper Technologies Company Profile

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.