OVERSEA CHINESE BANKING Corp Ltd Buys Shares of 53,062 Roper Technologies, Inc. (NYSE:ROP)

Key Points

• Oversea Chinese Banking Corp Ltd acquired 53,062 shares of Roper Technologies, valued at approximately $31.28 million, which represents 0.9% of its portfolio.
• Roper Technologies reported a quarterly earnings per share (EPS) of $4.87, surpassing analysts' expectations and reflecting a year-over-year revenue increase of 13.2%.
• The stock has received various ratings from analysts, with targets ranging from $561 to $687 and an average rating of "Moderate Buy".

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Roper Technologies, Inc. (NYSE:ROP - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 53,062 shares of the industrial products company's stock, valued at approximately $31,284,000. Roper Technologies comprises approximately 0.9% of OVERSEA CHINESE BANKING Corp Ltd's holdings, making the stock its 29th largest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its stake 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 worth $19,368,000 after buying an additional 1,242 shares in the last quarter. SPC Financial Inc. lifted its holdings in shares of Roper Technologies by 81.8% during the 1st quarter. SPC Financial Inc. now owns 5,276 shares of the industrial products company's stock worth $3,111,000 after acquiring an additional 2,374 shares during the last quarter. Moors & Cabot Inc. lifted its holdings in shares of Roper Technologies by 3.8% during the 1st quarter. Moors & Cabot Inc. now owns 655 shares of the industrial products company's stock worth $386,000 after acquiring an additional 24 shares during the last quarter. Nicolet Advisory Services LLC lifted its holdings in shares of Roper Technologies by 5.7% during the 1st quarter. Nicolet Advisory Services LLC now owns 872 shares of the industrial products company's stock worth $479,000 after acquiring an additional 47 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of Roper Technologies during the 1st quarter worth $887,000. Institutional investors own 93.31% of the company's stock.

Roper Technologies Trading Up 0.8%

Shares of NYSE:ROP traded up $4.31 on Monday, hitting $546.42. 473,791 shares of the company's stock were exchanged, compared to its average volume of 616,805. Roper Technologies, Inc. has a 12 month low of $499.47 and a 12 month high of $595.17. The stock has a market capitalization 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 1.02. The business's 50 day simple moving average is $562.03 and its two-hundred day simple moving average is $565.07. 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 earnings results on Monday, July 21st. The industrial products company reported $4.87 earnings per share 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%. The business's quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.48 earnings per share. Analysts anticipate that Roper Technologies, Inc. will post 19.96 EPS for the current fiscal year.

Roper Technologies Announces Dividend

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

Insiders Place Their Bets

In related news, VP John K. Stipancich sold 1,500 shares of the stock in a transaction dated 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. This represents a 3.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard F. Wallman sold 352 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $556.25, for a total value of $195,800.00. Following the completion of the sale, the director directly owned 20,510 shares in the company, valued at $11,408,687.50. This represents a 1.69% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.78% of the company's stock.

Wall Street Analysts Forecast Growth

ROP has been the topic of several research reports. Mizuho set a $600.00 price target on shares of Roper Technologies in a research note on Friday, May 16th. Raymond James Financial reissued a "strong-buy" rating and set a $655.00 price target on shares of Roper Technologies in a research note on Monday, April 28th. Barclays reissued an "underweight" rating on shares of Roper Technologies in a research note on Monday, April 28th. JPMorgan Chase & Co. lifted their price target on shares of Roper Technologies from $561.00 to $577.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Oppenheimer reissued an "outperform" rating and set a $640.00 price target on shares of Roper Technologies in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $637.18.

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.