State of New Jersey Common Pension Fund D Reduces Position in Roper Technologies, Inc. (NYSE:ROP)

State of New Jersey Common Pension Fund D cut its position in Roper Technologies, Inc. (NYSE:ROP) by 7.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,870 shares of the industrial products company’s stock after selling 2,936 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Roper Technologies were worth $20,559,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of ROP. T. Rowe Price Investment Management Inc. increased its position in shares of Roper Technologies by 42.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,151,502 shares of the industrial products company’s stock valued at $2,678,009,000 after purchasing an additional 1,529,716 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Roper Technologies in the 1st quarter valued at approximately $894,764,000. GAMMA Investing LLC increased its position in shares of Roper Technologies by 103,901.5% in the 1st quarter. GAMMA Investing LLC now owns 1,114,896 shares of the industrial products company’s stock valued at $657,320,000 after purchasing an additional 1,113,824 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of Roper Technologies by 23.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,083,549 shares of the industrial products company’s stock valued at $638,648,000 after buying an additional 205,019 shares in the last quarter. Finally, Voloridge Investment Management LLC boosted its holdings in shares of Roper Technologies by 172.6% in the 4th quarter. Voloridge Investment Management LLC now owns 257,075 shares of the industrial products company’s stock valued at $133,640,000 after buying an additional 162,765 shares in the last quarter. 93.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ROP shares. Mizuho set a $600.00 target price on shares of Roper Technologies in a report on Friday, May 16th. Truist Financial upped their target price on shares of Roper Technologies from $675.00 to $685.00 and gave the company a “buy” rating in a report on Tuesday, July 22nd. Oppenheimer restated an “outperform” rating and issued a $640.00 target price on shares of Roper Technologies in a report on Monday, April 28th. JPMorgan Chase & Co. upped their target price on shares of Roper Technologies from $561.00 to $577.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Finally, William Blair started coverage on shares of Roper Technologies in a report on Monday, May 5th. They issued an “outperform” rating for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $637.18.

Roper Technologies Stock Up 0.9%

Shares of NYSE:ROP opened at $529.64 on Friday. The stock has a market cap of $57.00 billion, a P/E ratio of 36.93, a P/E/G ratio of 2.77 and a beta of 0.99. The firm has a fifty day moving average price of $554.68 and a 200 day moving average price of $564.56. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.40 and a quick ratio of 0.37. Roper Technologies, Inc. has a 1-year low of $499.47 and a 1-year high of $595.17.

Roper Technologies (NYSE:ROP) last issued its quarterly earnings results on Monday, July 21st. The industrial products company reported $4.87 earnings per share for the quarter, topping analysts’ consensus estimates of $4.83 by $0.04. Roper Technologies had a net margin of 22.01% and a return on equity of 10.79%. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.48 earnings per share. Sell-side analysts predict that Roper Technologies, Inc. will post 19.96 EPS for the current year.

Roper Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, October 3rd will be given a dividend of $0.825 per share. The ex-dividend date is Friday, October 3rd. This represents a $3.30 dividend on an annualized basis and a yield of 0.6%. Roper Technologies’s dividend payout ratio is presently 23.19%.

Insiders Place Their Bets

In other Roper Technologies news, Director Richard F. Wallman sold 352 shares of the company’s stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $556.25, for a total transaction of $195,800.00. Following the completion of the transaction, the director owned 20,510 shares in the company, valued at approximately $11,408,687.50. This represents a 1.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John K. Stipancich sold 1,500 shares of the company’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $564.17, for a total transaction of $846,255.00. Following the transaction, the vice president owned 38,932 shares of the company’s stock, valued at approximately $21,964,266.44. The trade was a 3.71% decrease in their position. The disclosure for this sale can be found here. 0.78% of the stock is currently owned by corporate insiders.

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.