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

Allspring Global Investments Holdings LLC trimmed its position in Roper Technologies, Inc. (NYSE:ROP - Free Report) by 10.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,194 shares of the industrial products company's stock after selling 2,483 shares during the period. Allspring Global Investments Holdings LLC's holdings in Roper Technologies were worth $13,112,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Oxford Financial Group LTD. LLC boosted its holdings in shares of Roper Technologies by 3.1% in the fourth quarter. Oxford Financial Group LTD. LLC now owns 594 shares of the industrial products company's stock valued at $309,000 after acquiring an additional 18 shares in the last quarter. Meridian Financial Partners LLC increased its position in Roper Technologies by 0.9% during the 1st quarter. Meridian Financial Partners LLC now owns 2,071 shares of the industrial products company's stock worth $1,221,000 after purchasing an additional 19 shares during the period. My Legacy Advisors LLC raised its stake in shares of Roper Technologies by 1.5% during the 1st quarter. My Legacy Advisors LLC now owns 1,273 shares of the industrial products company's stock worth $751,000 after buying an additional 19 shares in the last quarter. Smith Shellnut Wilson LLC ADV lifted its holdings in shares of Roper Technologies by 2.7% in the 4th quarter. Smith Shellnut Wilson LLC ADV now owns 767 shares of the industrial products company's stock valued at $399,000 after buying an additional 20 shares during the period. Finally, Tritonpoint Wealth LLC boosted its stake in shares of Roper Technologies by 2.7% in the first quarter. Tritonpoint Wealth LLC now owns 760 shares of the industrial products company's stock valued at $448,000 after buying an additional 20 shares in the last quarter. 93.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ROP. Mizuho set a $600.00 price objective on Roper Technologies in a research report on Friday, May 16th. Stifel Nicolaus cut their price target on shares of Roper Technologies from $685.00 to $650.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Robert W. Baird boosted their price objective on shares of Roper Technologies from $660.00 to $668.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. JPMorgan Chase & Co. increased their target price 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. Finally, William Blair initiated coverage on Roper Technologies in a research note on Monday, May 5th. They set an "outperform" rating on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $632.36.

Roper Technologies Price Performance

ROP stock traded up $6.77 on Friday, reaching $572.85. The company had a trading volume of 243,956 shares, compared to its average volume of 549,432. The company's fifty day moving average is $568.37 and its 200 day moving average is $559.40. The company has a market cap of $61.59 billion, a P/E ratio of 39.95, a PEG ratio of 2.77 and a beta of 1.02. 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, Inc. has a 1 year low of $499.47 and a 1 year high of $595.17.

Roper Technologies (NYSE:ROP - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The industrial products company reported $4.78 earnings per share (EPS) for the quarter, beating 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%. Roper Technologies's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company earned $4.41 EPS. On average, research analysts forecast that Roper Technologies, Inc. will post 19.96 earnings per share for the current year.

Roper Technologies Dividend Announcement

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