SouthState Corp Has $21.65 Million Stake in Roper Technologies, Inc. (NYSE:ROP)

Key Points

• SouthState Corp increased its holdings in Roper Technologies, purchasing an additional 1,009 shares, bringing its total to 36,715 shares, valued at approximately $21.6 million.
• Roper Technologies reported a 12.01% year-over-year revenue increase with an EPS of $4.87 for the last quarter, which surpassed the consensus estimate by $0.04.
• The company declared a quarterly dividend of $0.825 per share, set to be paid on October 17th, reflecting a 0.6% dividend yield.

SouthState Corp boosted its holdings in Roper Technologies, Inc. (NYSE:ROP - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 36,715 shares of the industrial products company's stock after buying an additional 1,009 shares during the quarter. Roper Technologies accounts for about 1.0% of SouthState Corp's investment portfolio, making the stock its 24th largest position. SouthState Corp's holdings in Roper Technologies were worth $21,646,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cobblestone Capital Advisors LLC NY acquired a new stake in shares of Roper Technologies in the 1st quarter valued at $574,000. Nuveen LLC acquired a new stake in shares of Roper Technologies in the 1st quarter valued at $894,764,000. Pandora Wealth Inc. acquired a new stake in shares of Roper Technologies in the 1st quarter valued at $651,000. Fiduciary Family Office LLC acquired a new stake in shares of Roper Technologies in the 1st quarter valued at $331,000. Finally, Benjamin Edwards Inc. lifted its stake in shares of Roper Technologies by 4.3% in the 1st quarter. Benjamin Edwards Inc. now owns 1,679 shares of the industrial products company's stock valued at $990,000 after purchasing an additional 69 shares during the last quarter. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Royal Bank Of Canada lifted their price objective on shares of Roper Technologies from $695.00 to $703.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Oppenheimer reissued an "outperform" rating and set a $640.00 target price on shares of Roper Technologies in a research report on Monday, April 28th. Barclays reissued an "underweight" rating on shares of Roper Technologies in a research report on Monday, April 28th. Stifel Nicolaus cut their target price on shares of Roper Technologies from $685.00 to $650.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Finally, Mizuho set a $600.00 target price on shares of Roper Technologies in a research report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $637.18.

Roper Technologies Stock Up 0.6%

Roper Technologies stock traded up $3.03 during mid-day trading on Wednesday, reaching $522.53. The company's stock had a trading volume of 1,105,813 shares, compared to its average volume of 617,344. The business's 50 day simple moving average is $557.35 and its 200 day simple moving average is $565.10. Roper Technologies, Inc. has a 12 month low of $499.47 and a 12 month high of $595.17. The company has a market capitalization of $56.23 billion, a price-to-earnings ratio of 36.44, a price-to-earnings-growth ratio of 2.77 and a beta of 0.99. 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 (NYSE:ROP - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The industrial products company reported $4.87 EPS for the quarter, beating analysts' consensus estimates of $4.83 by $0.04. Roper Technologies had a net margin of 22.01% and a return on equity of 10.79%. The company's revenue was up 13.2% on a year-over-year basis. During the same period in the prior year, the firm posted $4.48 earnings per share. As a group, research analysts anticipate that Roper Technologies, Inc. will post 19.96 earnings per share for the current year.

Roper Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, October 3rd 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 0.6%. The ex-dividend date is Friday, October 3rd. Roper Technologies's dividend payout ratio (DPR) is currently 23.19%.

Insider Transactions at Roper Technologies

In other Roper Technologies news, VP John K. Stipancich sold 1,500 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $564.17, for a total value of $846,255.00. Following the transaction, the vice president directly owned 38,932 shares of the company's stock, valued at $21,964,266.44. This trade represents a 3.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard F. Wallman sold 352 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $556.25, for a total transaction of $195,800.00. Following the completion of the transaction, the director directly owned 20,510 shares in the company, 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 0.78% of the company's stock.

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.