Roper Technologies (NASDAQ:ROP) CEO Sells $19,700,000.00 in Stock

Key Points

• CEO Laurence Hunn sold 40,000 Roper Technologies shares for $19.7 million at an average price of $492.50, reducing his stake by 47.36% to 44,457 shares.
• Roper shares fell 2.9% to $476.60 in Friday trading. The company recently beat quarterly EPS estimates ($5.89 versus $5.79), with revenue up 7.7% year over year.
• Roper raised its quarterly dividend from $0.91 to $1.00 per share, equivalent to $4 annually and a 0.8% yield; analysts’ average rating is Hold, with a $469.41 average price target.

Roper Technologies, Inc. (NASDAQ:ROP - Get Free Report) CEO Laurence Hunn sold 40,000 shares of the firm's stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $492.50, for a total value of $19,700,000.00. Following the completion of the transaction, the chief executive officer owned 44,457 shares of the company's stock, valued at approximately $21,895,072.50. The trade was a 47.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Roper Technologies Stock Down 2.9%

Shares of NASDAQ ROP traded down $14.36 during mid-day trading on Friday, hitting $476.60. 1,059,861 shares of the stock traded hands, compared to its average volume of 1,207,462. The company has a market cap of $47.20 billion, a price-to-earnings ratio of 18.81, a PEG ratio of 2.44 and a beta of 0.67. The stock has a fifty day moving average price of $397.99 and a 200-day moving average price of $366.83. Roper Technologies, Inc. has a 52 week low of $305.96 and a 52 week high of $507.24. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.39 and a current ratio of 0.43.

Roper Technologies (NASDAQ:ROP - Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The industrial products company reported $5.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.79 by $0.10. The business had revenue of $2.17 billion during the quarter. Roper Technologies had a return on equity of 11.64% and a net margin of 30.71%. Roper Technologies's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $5.14 EPS. Research analysts anticipate that Roper Technologies, Inc. will post 22.38 EPS for the current year.

Roper Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 19th. Shareholders of record on Monday, January 4th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 0.8%. This is a boost from Roper Technologies's previous quarterly dividend of $0.91. The ex-dividend date is Monday, January 4th. Roper Technologies's dividend payout ratio is currently 14.36%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ROP. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Roper Technologies during the 2nd quarter valued at $27,000. Global Assets Advisory LLC purchased a new stake in Roper Technologies in the 1st quarter worth $36,000. Salomon & Ludwin LLC purchased a new stake in Roper Technologies in the 3rd quarter worth $37,000. BOK Financial Private Wealth Inc. purchased a new position in Roper Technologies in the 2nd quarter worth approximately $36,000. Finally, CoreCap Advisors LLC boosted its stake in Roper Technologies by 114.8% in the 2nd quarter. CoreCap Advisors LLC now owns 131 shares of the industrial products company's stock worth $44,000 after purchasing an additional 70 shares during the period. 93.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on ROP. BMO Capital Markets reaffirmed a "market perform" rating and set a $462.00 target price (up from $393.00) on shares of Roper Technologies in a research note on Friday, October 23rd. JPMorgan Chase & Co. raised Roper Technologies from an "underweight" rating to a "neutral" rating and boosted their price target for the stock from $415.00 to $490.00 in a research report on Monday, October 26th. Truist Financial upped their price target on Roper Technologies from $475.00 to $500.00 and gave the stock a "buy" rating in a research note on Friday, October 23rd. Argus raised Roper Technologies from a "hold" rating to a "buy" rating and set a $450.00 price objective for the company in a research report on Thursday, August 6th. Finally, The Goldman Sachs Group reduced their price objective on Roper Technologies from $414.00 to $410.00 and set a "neutral" rating for the company in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $469.41.

About Roper Technologies

Roper Technologies, Inc is a diversified technology company that develops and acquires businesses serving specialized markets. Its portfolio includes application software, network software and technology-enabled products used by businesses, healthcare organizations, government agencies and other institutions.

The company's software businesses provide solutions for areas such as education administration, healthcare information management, enterprise asset management, compliance, legal and construction workflows, and financial services.

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