Allspring Global Investments Holdings LLC Cuts Stock Holdings in Roper Technologies, Inc. (NYSE:ROP)

Allspring Global Investments Holdings LLC lessened its stake in Roper Technologies, Inc. (NYSE:ROP - Free Report) by 10.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,194 shares of the industrial products company's stock after selling 2,483 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Roper Technologies were worth $13,112,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Brighton Jones LLC bought a new position in shares of Roper Technologies during the 4th quarter valued at about $203,000. Smartleaf Asset Management LLC boosted its stake in Roper Technologies by 18.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 911 shares of the industrial products company's stock valued at $474,000 after buying an additional 141 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Roper Technologies during the 4th quarter valued at approximately $55,000. Schechter Investment Advisors LLC increased its stake in Roper Technologies by 16.2% in the 4th quarter. Schechter Investment Advisors LLC now owns 783 shares of the industrial products company's stock worth $407,000 after acquiring an additional 109 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of Roper Technologies by 1.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,905 shares of the industrial products company's stock worth $1,510,000 after acquiring an additional 37 shares in the last quarter. Institutional investors own 93.31% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Mizuho set a $600.00 price objective on shares of Roper Technologies in a research note on Friday, May 16th. JPMorgan Chase & Co. increased their price target on shares of Roper Technologies from $470.00 to $561.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Raymond James Financial reissued a "strong-buy" rating and set a $655.00 price objective on shares of Roper Technologies in a research note on Monday, April 28th. Robert W. Baird raised their price objective on Roper Technologies from $660.00 to $668.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. Finally, Royal Bank Of Canada boosted their target price on Roper Technologies from $694.00 to $695.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $632.36.

Roper Technologies Trading Up 1.2%

Shares of NYSE ROP traded up $6.77 during midday trading on Friday, hitting $572.85. The company's stock had a trading volume of 243,956 shares, compared to its average volume of 550,335. Roper Technologies, Inc. has a 12-month low of $499.47 and a 12-month high of $595.17. The firm has a market cap of $61.59 billion, a P/E ratio of 39.95, a price-to-earnings-growth ratio of 2.77 and a beta of 1.02. The business's 50 day moving average is $568.37 and its two-hundred day moving average is $559.63. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.35.

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

Roper Technologies Dividend Announcement

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

About Roper Technologies

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.