Synovus Financial Corp Raises Holdings in Roper Technologies, Inc. (NYSE:ROP)

Synovus Financial Corp increased its holdings in Roper Technologies, Inc. (NYSE:ROP) by 19.6% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 5,867 shares of the industrial products company’s stock after buying an additional 961 shares during the quarter. Synovus Financial Corp’s holdings in Roper Technologies were worth $3,265,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Fairscale Capital LLC purchased a new position in shares of Roper Technologies during the second quarter valued at approximately $28,000. Fortitude Family Office LLC purchased a new stake in Roper Technologies during the 3rd quarter valued at $28,000. Valley Wealth Managers Inc. bought a new position in shares of Roper Technologies during the 2nd quarter valued at $31,000. Global Wealth Strategies & Associates purchased a new position in shares of Roper Technologies in the 3rd quarter worth $37,000. Finally, Kimelman & Baird LLC bought a new stake in shares of Roper Technologies in the second quarter worth $42,000. Institutional investors own 93.31% of the company’s stock.

Roper Technologies Trading Down 0.8 %

Shares of ROP stock opened at $543.66 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.44 and a current ratio of 0.48. The stock has a fifty day simple moving average of $554.11 and a two-hundred day simple moving average of $551.68. The firm has a market capitalization of $58.30 billion, a PE ratio of 39.77, a PEG ratio of 2.87 and a beta of 1.02. Roper Technologies, Inc. has a 52-week low of $508.22 and a 52-week high of $580.09.

Roper Technologies (NYSE:ROP) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share (EPS) 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 company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter last year, the company earned $4.32 EPS. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. On average, analysts predict that Roper Technologies, Inc. will post 18.26 EPS for the current fiscal year.

Roper Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be given a dividend of $0.825 per share. This is a positive change from Roper Technologies’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, January 3rd. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.61%. Roper Technologies’s dividend payout ratio is currently 21.95%.

Insider Activity at Roper Technologies

In other news, Director Richard F. Wallman sold 1,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $550.00, for a total transaction of $550,000.00. Following the completion of the transaction, the director now owns 32,955 shares in the company, valued at $18,125,250. This trade represents a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.87% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ROP has been the topic of several research reports. Barclays reissued an “underweight” rating and issued a $569.00 target price (down from $625.00) on shares of Roper Technologies in a research report on Thursday, December 5th. Robert W. Baird raised their price objective on shares of Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Royal Bank of Canada reduced their target price on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Mizuho boosted their price objective on shares of Roper Technologies from $530.00 to $565.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, Truist Financial restated a “buy” rating and issued a $665.00 price objective (up from $660.00) on shares of Roper Technologies in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $615.20.

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.