Sawgrass Asset Management LLC Sells 506 Shares of Roper Technologies, Inc. (NYSE:ROP)

Sawgrass Asset Management LLC decreased its stake in Roper Technologies, Inc. (NYSE:ROP - Free Report) by 18.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,267 shares of the industrial products company's stock after selling 506 shares during the period. Sawgrass Asset Management LLC's holdings in Roper Technologies were worth $1,337,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. VSM Wealth Advisory LLC bought a new position in Roper Technologies in the 4th quarter valued at approximately $26,000. Putney Financial Group LLC bought a new position in Roper Technologies in the 4th quarter valued at approximately $31,000. CoreFirst Bank & Trust bought a new position in shares of Roper Technologies during the fourth quarter valued at $36,000. Parvin Asset Management LLC bought a new position in shares of Roper Technologies during the fourth quarter valued at $39,000. Finally, OFI Invest Asset Management bought a new position in shares of Roper Technologies during the fourth quarter valued at $38,000. Institutional investors own 93.31% of the company's stock.

Roper Technologies Price Performance

Shares of NYSE ROP opened at $561.99 on Monday. Roper Technologies, Inc. has a twelve month low of $499.47 and a twelve month high of $595.17. The firm has a fifty day simple moving average of $565.93 and a 200 day simple moving average of $558.04. The company has a market capitalization of $60.42 billion, a PE ratio of 39.19, a P/E/G ratio of 2.77 and a beta of 1.03. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.35.

Roper Technologies (NYSE:ROP - Get Free Report) last announced its earnings results 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%. During the same quarter in the prior year, the firm earned $4.41 earnings per share. Roper Technologies's revenue was up 12.0% compared to the same quarter last year. On average, sell-side analysts forecast that Roper Technologies, Inc. will post 19.96 EPS for the current year.

Roper Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 8th will be issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Tuesday, July 8th. Roper Technologies's payout ratio is 23.81%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ROP shares. Raymond James Financial reaffirmed a "strong-buy" rating and set a $655.00 price target on shares of Roper Technologies in a research note on Monday, April 28th. Oppenheimer reaffirmed an "outperform" rating and set a $640.00 price target on shares of Roper Technologies in a research note on Monday, April 28th. Robert W. Baird raised their price target on shares of Roper Technologies from $660.00 to $668.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. JPMorgan Chase & Co. raised their price target 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. Finally, William Blair began coverage on shares of Roper Technologies in a research note on Monday, May 5th. They set an "outperform" rating for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $632.36.

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.

Want to see what other hedge funds are holding ROP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Roper Technologies, Inc. (NYSE:ROP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.