Canoe Financial LP Takes Position in Roper Technologies, Inc. (NYSE:ROP)

Canoe Financial LP bought a new stake in shares of Roper Technologies, Inc. (NYSE:ROP - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 874 shares of the industrial products company's stock, valued at approximately $515,000.

Other hedge funds have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Roper Technologies by 2.7% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 34,833 shares of the industrial products company's stock valued at $20,537,000 after purchasing an additional 917 shares during the last quarter. Raiffeisen Bank International AG acquired a new position in Roper Technologies during the fourth quarter valued at $761,000. Town & Country Bank & Trust CO dba First Bankers Trust CO acquired a new position in Roper Technologies during the first quarter valued at $2,395,000. Assenagon Asset Management S.A. raised its position in Roper Technologies by 1.0% during the first quarter. Assenagon Asset Management S.A. now owns 3,067 shares of the industrial products company's stock valued at $1,808,000 after buying an additional 30 shares during the period. Finally, Plato Investment Management Ltd raised its position in Roper Technologies by 41.4% during the fourth quarter. Plato Investment Management Ltd now owns 4,036 shares of the industrial products company's stock valued at $2,106,000 after buying an additional 1,182 shares during the period. 93.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ROP. JPMorgan Chase & Co. upped their price target on Roper Technologies from $470.00 to $561.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Royal Bank Of Canada upped their price target on Roper Technologies from $694.00 to $695.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. Robert W. Baird upped their price target on Roper Technologies from $660.00 to $668.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. Stifel Nicolaus dropped their price target on Roper Technologies from $685.00 to $650.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $655.00 target price on shares of Roper Technologies in a research report on Monday, April 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Roper Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $632.36.

Roper Technologies Stock Performance

Shares of ROP stock opened at $561.99 on Friday. The firm has a market cap of $60.42 billion, a P/E ratio of 39.19, a PEG ratio of 2.77 and a beta of 1.03. The stock's 50-day moving average is $565.93 and its two-hundred day moving average is $558.16. Roper Technologies, Inc. has a fifty-two week low of $499.47 and a fifty-two week high of $595.17. 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 (NYSE:ROP - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The industrial products company reported $4.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.74 by $0.04. Roper Technologies had a return on equity of 10.79% and a net margin of 22.01%. The business's quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.41 earnings per share. Analysts predict that Roper Technologies, Inc. will post 19.96 earnings per share for the current fiscal year.

Roper Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Tuesday, July 8th will be paid a dividend of $0.825 per share. The ex-dividend date is Tuesday, July 8th. This represents a $3.30 annualized dividend and a dividend yield of 0.59%. Roper Technologies's dividend payout ratio (DPR) is presently 23.81%.

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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