Royal Bank of Canada Forecasts Strong Price Appreciation for Roper Technologies (NYSE:ROP) Stock

Roper Technologies (NYSE:ROP - Free Report) had its target price upped by Royal Bank of Canada from $694.00 to $695.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the industrial products company's stock.

Several other research firms also recently issued reports on ROP. Raymond James reaffirmed a "strong-buy" rating and issued a $655.00 price objective on shares of Roper Technologies in a research note on Monday. Oppenheimer restated an "outperform" rating and issued a $640.00 price target on shares of Roper Technologies in a research report on Monday. Stifel Nicolaus cut their price target on shares of Roper Technologies from $685.00 to $650.00 and set a "buy" rating on the stock in a report on Tuesday. Barclays reaffirmed an "underweight" rating on shares of Roper Technologies in a research report on Monday. Finally, Truist Financial reiterated a "buy" rating and issued a $675.00 price target (up previously from $665.00) on shares of Roper Technologies in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $620.91.

Roper Technologies Price Performance

Shares of ROP traded up $8.19 during midday trading on Tuesday, hitting $565.78. The company's stock had a trading volume of 113,973 shares, compared to its average volume of 549,307. 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 has a one year low of $499.47 and a one year high of $595.17. The stock has a market capitalization of $60.83 billion, a price-to-earnings ratio of 39.54, a price-to-earnings-growth ratio of 2.77 and a beta of 1.04. The company's fifty day simple moving average is $567.24 and its two-hundred day simple moving average is $554.72.

Roper Technologies (NYSE:ROP - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The industrial products company reported $4.78 earnings per share (EPS) for the quarter, beating the consensus estimate 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 last year, the firm posted $4.41 EPS. The firm's revenue was up 12.0% on a year-over-year basis. As a group, equities analysts expect that Roper Technologies will post 19.96 earnings per share for the current fiscal year.

Roper Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 22nd. Shareholders of record on Friday, April 4th were issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Friday, April 4th. Roper Technologies's payout ratio is 23.81%.

Insider Buying and Selling at Roper Technologies

In other news, CFO Jason Conley sold 3,000 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $588.19, for a total value of $1,764,570.00. Following the completion of the sale, the chief financial officer now directly owns 31,522 shares in the company, valued at $18,540,925.18. This trade represents a 8.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Brandon L. Cross sold 750 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $577.83, for a total value of $433,372.50. Following the transaction, the vice president now directly owns 1,329 shares in the company, valued at approximately $767,936.07. This trade represents a 36.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.87% of the company's stock.

Institutional Trading of Roper Technologies

Hedge funds have recently bought and sold shares of the business. Manchester Capital Management LLC grew its holdings in shares of Roper Technologies by 1.6% during the fourth quarter. Manchester Capital Management LLC now owns 1,139 shares of the industrial products company's stock valued at $592,000 after buying an additional 18 shares during the last quarter. Oxford Financial Group LTD. LLC boosted its stake in Roper Technologies by 3.1% during the 4th quarter. Oxford Financial Group LTD. LLC now owns 594 shares of the industrial products company's stock valued at $309,000 after purchasing an additional 18 shares during the last quarter. Meridian Financial Partners LLC increased its holdings in Roper Technologies by 0.9% during the 1st quarter. Meridian Financial Partners LLC now owns 2,071 shares of the industrial products company's stock worth $1,221,000 after purchasing an additional 19 shares in the last quarter. My Legacy Advisors LLC raised its stake in shares of Roper Technologies by 1.5% in the first quarter. My Legacy Advisors LLC now owns 1,273 shares of the industrial products company's stock worth $751,000 after purchasing an additional 19 shares during the last quarter. Finally, Principal Securities Inc. lifted its holdings in shares of Roper Technologies by 0.5% in the fourth quarter. Principal Securities Inc. now owns 4,291 shares of the industrial products company's stock valued at $2,231,000 after purchasing an additional 20 shares in the last quarter. Institutional investors and hedge funds own 93.31% 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.