Palisade Capital Management LP Increases Position in Roper Technologies, Inc. (NYSE:ROP)

Palisade Capital Management LP raised its position in Roper Technologies, Inc. (NYSE:ROP - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 41,368 shares of the industrial products company's stock after buying an additional 1,233 shares during the period. Palisade Capital Management LP's holdings in Roper Technologies were worth $24,390,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ROP. VSM Wealth Advisory LLC acquired a new stake in shares of Roper Technologies in the fourth quarter worth approximately $26,000. MorganRosel Wealth Management LLC acquired a new stake in Roper Technologies during the 1st quarter worth $27,000. Putney Financial Group LLC purchased a new stake in shares of Roper Technologies during the fourth quarter worth $31,000. Alpine Bank Wealth Management acquired a new stake in shares of Roper Technologies in the first quarter valued at about $34,000. Finally, CoreFirst Bank & Trust purchased a new position in shares of Roper Technologies in the fourth quarter worth about $36,000. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

Roper Technologies Trading Up 1.2%

Shares of NYSE ROP traded up $6.77 during mid-day trading on Friday, reaching $572.85. 243,956 shares of the company's stock were exchanged, compared to its average volume of 549,432. The firm has a market capitalization of $61.59 billion, a price-to-earnings ratio of 39.95, a PEG ratio of 2.77 and a beta of 1.02. Roper Technologies, Inc. has a 52-week low of $499.47 and a 52-week high of $595.17. The company's 50-day moving average is $568.06 and its 200-day moving average is $559.16. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.37 and a current ratio of 0.40.

Roper Technologies (NYSE:ROP - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The industrial products company reported $4.78 earnings per share for the quarter, topping analysts' consensus estimates of $4.74 by $0.04. Roper Technologies had a net margin of 22.01% and a return on equity of 10.79%. Roper Technologies's quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.41 earnings per share. Analysts expect that Roper Technologies, Inc. will post 19.96 EPS for the current fiscal year.

Roper Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Tuesday, July 8th will be paid a dividend of $0.825 per share. The ex-dividend date of this dividend is Tuesday, July 8th. This represents a $3.30 annualized dividend and a yield of 0.58%. Roper Technologies's payout ratio is 23.81%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ROP shares. JPMorgan Chase & Co. upped their price objective on shares of Roper Technologies from $470.00 to $561.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. 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. Barclays reiterated an "underweight" rating on shares of Roper Technologies in a research report on Monday, April 28th. Mizuho set a $600.00 target price on Roper Technologies in a report on Friday, May 16th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $640.00 target price on shares of Roper Technologies in a research note on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $632.36.

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.