Townsquare Capital LLC Grows Holdings in Roper Technologies, Inc. (NYSE:ROP)

Key Points

• Townsquare Capital LLC increased its stake in Roper Technologies by 25.8%, now owning 2,986 shares valued at $1.76 million.
• Several hedge funds boosted their holdings in Roper Technologies, with institutional investors currently owning 93.31% of the company's stock.
• Roper Technologies announced a quarterly dividend of $0.825 per share, representing an annual dividend of $3.30 with a yield of 0.6%.

Townsquare Capital LLC increased its position in shares of Roper Technologies, Inc. (NYSE:ROP - Free Report) by 25.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,986 shares of the industrial products company's stock after purchasing an additional 612 shares during the quarter. Townsquare Capital LLC's holdings in Roper Technologies were worth $1,760,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ROP. Brighton Jones LLC purchased a new position in Roper Technologies during the fourth quarter worth about $203,000. Renaissance Technologies LLC purchased a new position in Roper Technologies in the fourth quarter valued at about $14,296,000. Sagespring Wealth Partners LLC purchased a new position in Roper Technologies in the fourth quarter valued at about $272,000. Savvy Advisors Inc. boosted its stake in Roper Technologies by 23.2% in the fourth quarter. Savvy Advisors Inc. now owns 510 shares of the industrial products company's stock valued at $265,000 after acquiring an additional 96 shares during the last quarter. Finally, SageView Advisory Group LLC boosted its stake in Roper Technologies by 132.6% in the fourth quarter. SageView Advisory Group LLC now owns 893 shares of the industrial products company's stock valued at $464,000 after acquiring an additional 509 shares during the last quarter. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ROP has been the topic of a number of research analyst reports. Robert W. Baird boosted their target price on shares of Roper Technologies from $668.00 to $687.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Oppenheimer reiterated an "outperform" rating and issued a $640.00 target price on shares of Roper Technologies in a research note on Monday, April 28th. Raymond James Financial reiterated a "strong-buy" rating and issued a $655.00 target price on shares of Roper Technologies in a research note on Monday, April 28th. Royal Bank Of Canada boosted their target price 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. Finally, Truist Financial boosted their target price on shares of Roper Technologies from $675.00 to $685.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Roper Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $637.18.

Insider Buying and Selling

In related news, Director Richard F. Wallman sold 352 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $556.25, for a total transaction of $195,800.00. Following the sale, the director owned 20,510 shares of the company's stock, valued at approximately $11,408,687.50. This represents a 1.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP John K. Stipancich sold 1,500 shares of the company's 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 sale, the vice president directly owned 38,932 shares in the company, valued at $21,964,266.44. This trade represents a 3.71% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.78% of the company's stock.

Roper Technologies Stock Performance

NYSE ROP opened at $519.50 on Wednesday. The company's 50 day moving average is $557.35 and its 200-day 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 quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.35. The firm has a market cap of $55.91 billion, a P/E ratio of 36.23, a price-to-earnings-growth ratio of 2.77 and a beta of 0.99.

Roper Technologies (NYSE:ROP - Get Free Report) last posted its earnings results on Monday, July 21st. The industrial products company reported $4.87 earnings per share for the quarter, topping 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 firm's revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the firm posted $4.48 EPS. Sell-side analysts predict that Roper Technologies, Inc. will post 19.96 earnings per share for the current year.

Roper Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, October 3rd will be issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Friday, October 3rd. Roper Technologies's dividend payout ratio is 23.19%.

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.

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