Canoe Financial LP Boosts Stake in Roper Technologies, Inc. $ROP

Key Points

• Canoe Financial LP raised its stake in Roper Technologies by 781.5% during Q2, owning 7,704 shares valued at approximately $4.37 million.
• Analysts have increased their price targets for Roper Technologies, with Royal Bank of Canada raising it to $703.00 and Truist Financial to $685.00, indicating strong market confidence.
• Roper Technologies announced a quarterly dividend of $0.825 per share, resulting in an annualized yield of 0.6%, with a payout ratio of 23.19%.

Canoe Financial LP lifted its stake in Roper Technologies, Inc. (NASDAQ:ROP - Free Report) by 781.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,704 shares of the industrial products company's stock after acquiring an additional 6,830 shares during the quarter. Canoe Financial LP's holdings in Roper Technologies were worth $4,367,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Legacy Financial Strategies LLC increased its holdings in shares of Roper Technologies by 1.2% during the second quarter. Legacy Financial Strategies LLC now owns 6,146 shares of the industrial products company's stock worth $3,484,000 after buying an additional 70 shares in the last quarter. Rockland Trust Co. boosted its position in shares of Roper Technologies by 1.3% during the second quarter. Rockland Trust Co. now owns 37,015 shares of the industrial products company's stock worth $20,982,000 after purchasing an additional 480 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Roper Technologies by 0.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 17,643 shares of the industrial products company's stock worth $10,110,000 after purchasing an additional 153 shares in the last quarter. Longboard Asset Management LP acquired a new stake in shares of Roper Technologies during the second quarter worth $314,000. Finally, Mn Services Vermogensbeheer B.V. raised its holdings in shares of Roper Technologies by 2.8% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 40,145 shares of the industrial products company's stock worth $22,756,000 after acquiring an additional 1,100 shares during the period. 93.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ROP. Citigroup started coverage on shares of Roper Technologies in a report on Wednesday, August 20th. They set a "buy" rating and a $626.00 target price for the company. JPMorgan Chase & Co. upped their price objective on shares of Roper Technologies from $561.00 to $577.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Robert W. Baird upped their price objective on shares of Roper Technologies from $668.00 to $687.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Truist Financial raised their price target on shares of Roper Technologies from $675.00 to $685.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Finally, Royal Bank Of Canada increased their target price on shares of Roper Technologies from $695.00 to $703.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $636.36.

Insider Buying and Selling

In other news, VP John K. Stipancich sold 1,500 shares of the stock in a transaction that occurred on 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 in the company, valued at $21,964,266.44. This trade represents a 3.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard F. Wallman sold 352 shares of the stock in a transaction on 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 transaction, the director directly owned 20,510 shares of the company's stock, valued at approximately $11,408,687.50. This represents a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.87% of the company's stock.

Roper Technologies Price Performance

Shares of Roper Technologies stock traded up $5.01 on Monday, hitting $509.63. 665,235 shares of the company traded hands, compared to its average volume of 653,487. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.43 and a current ratio of 0.46. The business has a 50-day simple moving average of $533.03 and a 200 day simple moving average of $554.69. The stock has a market capitalization of $54.84 billion, a P/E ratio of 35.81, a price-to-earnings-growth ratio of 2.37 and a beta of 1.03. Roper Technologies, Inc. has a 52 week low of $499.00 and a 52 week high of $595.17.

Roper Technologies (NASDAQ:ROP - Get Free Report) last issued its earnings results on Monday, July 21st. The industrial products company reported $4.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.83 by $0.04. Roper Technologies had a net margin of 20.62% and a return on equity of 10.83%. During the same quarter last year, the company earned $4.48 earnings per share. Roper Technologies's revenue was up 13.2% compared to the same quarter last year. Roper Technologies has set its FY 2025 guidance at 19.900-20.050 EPS. Q3 2025 guidance at 5.080-5.120 EPS. Research analysts expect that Roper Technologies, Inc. will post 19.96 earnings per share for the current fiscal year.

Roper Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, October 3rd will be given a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, October 3rd. Roper Technologies's dividend payout ratio is currently 23.19%.

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.