Parcion Private Wealth LLC Acquires New Shares in Roper Technologies, Inc. $ROP

Key Points

• Parcion Private Wealth initiated a position in Roper Technologies during the third quarter, purchasing 8,694 shares valued at approximately $3.04 million. Institutional investors and hedge funds collectively own 93.31% of the company.
• Roper reported quarterly earnings of $5.89 per share, exceeding estimates by $0.10, while revenue rose 7.7% year over year to $2.17 billion. Shares recently traded at $466.60, near their 52-week high.
• The company paid a quarterly dividend of $0.91, equivalent to an annualized $3.64 and a 0.8% yield. Analysts maintain a consensus “Hold” rating with an average price target of $469.41, while two executives recently sold shares.

Parcion Private Wealth LLC bought a new position in shares of Roper Technologies, Inc. (NASDAQ:ROP - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 8,694 shares of the industrial products company's stock, valued at approximately $3,038,000.

A number of other institutional investors have also added to or reduced their stakes in ROP. Choreo LLC bought a new position in shares of Roper Technologies in the third quarter valued at about $1,378,000. Argentarii LLC acquired a new stake in shares of Roper Technologies during the 3rd quarter worth about $500,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Roper Technologies during the 3rd quarter worth about $1,165,000. D.A. Davidson & CO. boosted its holdings in shares of Roper Technologies by 3.9% during the 3rd quarter. D.A. Davidson & CO. now owns 7,585 shares of the industrial products company's stock worth $2,650,000 after buying an additional 288 shares during the period. Finally, ICW Investment Advisors LLC acquired a new position in Roper Technologies in the 3rd quarter valued at about $624,000. 93.31% of the stock is currently owned by institutional investors and hedge funds.

Roper Technologies Stock Up 3.8%

Shares of NASDAQ ROP opened at $466.60 on Friday. The stock has a market capitalization of $46.15 billion, a P/E ratio of 18.41, a PEG ratio of 2.23 and a beta of 0.75. The stock's fifty day moving average is $392.34 and its 200 day moving average is $365.55. Roper Technologies, Inc. has a 52 week low of $305.96 and a 52 week high of $470.01. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.39 and a current ratio of 0.43.

Roper Technologies (NASDAQ:ROP - Get Free Report) last released its earnings results on Thursday, October 22nd. The industrial products company reported $5.89 EPS for the quarter, beating the consensus estimate of $5.79 by $0.10. Roper Technologies had a net margin of 30.71% and a return on equity of 11.64%. The firm had revenue of $2.17 billion for the quarter. During the same period in the prior year, the business earned $5.14 earnings per share. Roper Technologies's quarterly revenue was up 7.7% compared to the same quarter last year. Sell-side analysts forecast that Roper Technologies, Inc. will post 22.38 earnings per share for the current fiscal year.

Roper Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 21st. Investors of record on Friday, October 2nd were paid a $0.91 dividend. The ex-dividend date of this dividend was Friday, October 2nd. This represents a $3.64 annualized dividend and a yield of 0.8%. Roper Technologies's dividend payout ratio is presently 14.36%.

Insiders Place Their Bets

In other Roper Technologies news, EVP John Stipancich sold 3,500 shares of the company's stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $449.04, for a total value of $1,571,640.00. Following the completion of the transaction, the executive vice president owned 35,434 shares of the company's stock, valued at $15,911,283.36. This represents a 8.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jason Conley sold 12,000 shares of the firm's stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $435.53, for a total transaction of $5,226,360.00. Following the completion of the transaction, the executive vice president owned 28,457 shares of the company's stock, valued at approximately $12,393,877.21. This trade represents a 29.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ROP shares. Raymond James Financial cut shares of Roper Technologies from a "strong-buy" rating to a "market perform" rating in a report on Wednesday, July 22nd. Royal Bank Of Canada boosted their price objective on Roper Technologies from $417.00 to $450.00 and gave the stock a "sector perform" rating in a report on Friday, October 23rd. Piper Sandler decreased their target price on Roper Technologies from $540.00 to $526.00 and set an "overweight" rating on the stock in a research report on Friday, July 24th. The Goldman Sachs Group lowered their target price on Roper Technologies from $414.00 to $410.00 and set a "neutral" rating on the stock in a research note on Friday, July 24th. Finally, BMO Capital Markets reiterated a "market perform" rating and set a $462.00 target price (up from $393.00) on shares of Roper Technologies in a research note on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $469.41.

About Roper Technologies

Roper Technologies, Inc is a diversified technology company that develops and acquires businesses serving specialized markets. Its portfolio includes application software, network software and technology-enabled products used by businesses, healthcare organizations, government agencies and other institutions.

The company's software businesses provide solutions for areas such as education administration, healthcare information management, enterprise asset management, compliance, legal and construction workflows, and financial services.

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