Bank of Nova Scotia Decreases Stake in Roper Technologies, Inc. (NYSE:ROP)

Key Points

• Bank of Nova Scotia significantly reduced its stake in Roper Technologies by 73.2% during Q1, holding only 16,422 shares valued at approximately $9.68 million.
• Multiple analysts have set varied price targets for Roper Technologies, with Mizuho at $600 and Raymond James at $655, contributing to an average price target of $637.18.
• Roper Technologies announced a quarterly dividend of $0.825 per share, resulting in an annualized dividend of $3.30 and a yield of 0.6%.

Bank of Nova Scotia lowered its position in Roper Technologies, Inc. (NYSE:ROP - Free Report) by 73.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 16,422 shares of the industrial products company's stock after selling 44,744 shares during the period. Bank of Nova Scotia's holdings in Roper Technologies were worth $9,680,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Roper Technologies in the 1st quarter valued at $31,284,000. PNC Financial Services Group Inc. lifted its holdings in Roper Technologies by 3.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 32,850 shares of the industrial products company's stock valued at $19,368,000 after purchasing an additional 1,242 shares in the last quarter. SPC Financial Inc. lifted its position in Roper Technologies by 81.8% during the first quarter. SPC Financial Inc. now owns 5,276 shares of the industrial products company's stock worth $3,111,000 after buying an additional 2,374 shares in the last quarter. Moors & Cabot Inc. lifted its position in Roper Technologies by 3.8% during the first quarter. Moors & Cabot Inc. now owns 655 shares of the industrial products company's stock worth $386,000 after buying an additional 24 shares in the last quarter. Finally, Nicolet Advisory Services LLC lifted its position in Roper Technologies by 5.7% during the first quarter. Nicolet Advisory Services LLC now owns 872 shares of the industrial products company's stock worth $479,000 after buying an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 93.31% of the company's stock.

Analysts Set New Price Targets

ROP has been the topic of a number of analyst reports. Barclays reiterated an "underweight" rating on shares of Roper Technologies in a research report on Monday, April 28th. Mizuho set a $600.00 price objective on shares of Roper Technologies in a research report on Friday, May 16th. Raymond James Financial restated a "strong-buy" rating and set a $655.00 price objective on shares of Roper Technologies in a research report on Monday, April 28th. William Blair assumed coverage on shares of Roper Technologies in a research report on Monday, May 5th. They set an "outperform" rating for the company. Finally, Oppenheimer restated an "outperform" rating and set a $640.00 price objective on shares of Roper Technologies in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $637.18.

Roper Technologies Price Performance

ROP stock opened at $546.42 on Tuesday. Roper Technologies, Inc. has a 52-week low of $499.47 and a 52-week high of $595.17. The business has a fifty day moving average of $561.61 and a two-hundred day moving average of $565.24. The stock has a market cap of $58.75 billion, a price-to-earnings ratio of 38.10, a price-to-earnings-growth ratio of 2.77 and a beta of 0.99. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.35.

Roper Technologies (NYSE:ROP - Get Free Report) last released its quarterly earnings results on Monday, July 21st. The industrial products company reported $4.87 EPS for the quarter, topping the consensus estimate of $4.83 by $0.04. Roper Technologies had a return on equity of 10.79% and a net margin of 22.01%. During the same quarter last year, the company earned $4.48 earnings per share. The business's revenue for the quarter was up 13.2% on a year-over-year basis. As a group, research analysts anticipate that Roper Technologies, Inc. will post 19.96 earnings per share for the current year.

Roper Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Tuesday, July 8th were given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Tuesday, July 8th. Roper Technologies's dividend payout ratio (DPR) is currently 23.19%.

Insider Buying and Selling at Roper Technologies

In other news, VP John K. Stipancich sold 1,500 shares of the firm'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 completion of the transaction, the vice president directly owned 38,932 shares in the company, valued at $21,964,266.44. This trade represents a 3.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard F. Wallman sold 352 shares of the firm's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $556.25, for a total value of $195,800.00. Following the transaction, the director owned 20,510 shares of the company's stock, valued at approximately $11,408,687.50. This represents a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.78% of the company's stock.

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.

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