Congress Asset Management Co. Sells 179,442 Shares of Roper Technologies, Inc. (NYSE:ROP)

Congress Asset Management Co. decreased its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 92.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,944 shares of the industrial products company’s stock after selling 179,442 shares during the period. Congress Asset Management Co.’s holdings in Roper Technologies were worth $7,759,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ROP. Davis Rea LTD. bought a new stake in shares of Roper Technologies during the third quarter valued at approximately $2,810,000. First Trust Direct Indexing L.P. lifted its holdings in Roper Technologies by 12.1% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,392 shares of the industrial products company’s stock worth $3,000,000 after buying an additional 584 shares in the last quarter. Evermay Wealth Management LLC boosted its position in Roper Technologies by 3.5% in the 3rd quarter. Evermay Wealth Management LLC now owns 1,229 shares of the industrial products company’s stock valued at $684,000 after buying an additional 42 shares during the last quarter. Avitas Wealth Management LLC increased its stake in shares of Roper Technologies by 1.1% in the 3rd quarter. Avitas Wealth Management LLC now owns 6,512 shares of the industrial products company’s stock valued at $3,624,000 after buying an additional 70 shares during the period. Finally, Valmark Advisers Inc. raised its position in shares of Roper Technologies by 60.3% during the third quarter. Valmark Advisers Inc. now owns 752 shares of the industrial products company’s stock worth $418,000 after acquiring an additional 283 shares during the last quarter. Institutional investors own 93.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Oppenheimer lowered their price objective on Roper Technologies from $650.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Barclays lifted their price target on shares of Roper Technologies from $611.00 to $625.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Robert W. Baird raised their price objective on shares of Roper Technologies from $635.00 to $652.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Royal Bank of Canada dropped their target price on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Mizuho increased their price target on Roper Technologies from $530.00 to $565.00 and gave the company 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 assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Roper Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $620.80.

Insider Activity at Roper Technologies

In related news, Director Richard F. Wallman sold 1,000 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 32,955 shares of the company’s stock, valued at approximately $18,125,250. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.87% of the stock is currently owned by insiders.

Roper Technologies Stock Performance

ROP stock opened at $537.73 on Friday. Roper Technologies, Inc. has a 1-year low of $483.56 and a 1-year high of $579.10. The company has a current ratio of 0.48, a quick ratio of 0.44 and a debt-to-equity ratio of 0.41. The firm has a market cap of $57.66 billion, a PE ratio of 30.61, a P/E/G ratio of 2.86 and a beta of 1.02. The business’s 50-day moving average price is $550.94 and its two-hundred day moving average price is $545.60.

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

Roper Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Tuesday, October 8th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Tuesday, October 8th. Roper Technologies’s dividend payout ratio is 21.95%.

Roper Technologies Company 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.