Roper Technologies, Inc. (NYSE:ROP – Get Free Report)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $543.02, but opened at $565.99. Roper Technologies shares last traded at $580.68, with a volume of 85,807 shares.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on ROP. Oppenheimer initiated coverage on shares of Roper Technologies in a research note on Monday, December 23rd. They issued an “outperform” rating and a $630.00 price target for the company. Mizuho lifted their target price on Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Robert W. Baird raised their price objective on shares of Roper Technologies from $635.00 to $652.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Barclays reduced their target price on shares of Roper Technologies from $569.00 to $562.00 and set an “underweight” rating for the company in a report on Wednesday, January 8th. Finally, Truist Financial reaffirmed a “buy” rating and set a $665.00 target price (up from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $623.33.
Check Out Our Latest Analysis on ROP
Roper Technologies Stock Up 5.4 %
Roper Technologies Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 3rd were given a dividend of $0.825 per share. This is a boost from Roper Technologies’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $3.30 annualized dividend and a dividend yield of 0.58%. Roper Technologies’s payout ratio is currently 24.14%.
Hedge Funds Weigh In On Roper Technologies
Several institutional investors have recently modified their holdings of the stock. Fortitude Family Office LLC acquired a new position in Roper Technologies during the third quarter valued at approximately $28,000. Global Wealth Strategies & Associates bought a new position in shares of Roper Technologies during the third quarter worth about $37,000. E Fund Management Hong Kong Co. Ltd. raised its position in Roper Technologies by 7,500.0% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 76 shares of the industrial products company’s stock valued at $40,000 after buying an additional 75 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in Roper Technologies in the 4th quarter valued at approximately $45,000. Finally, Central Pacific Bank Trust Division grew its stake in shares of Roper Technologies by 34.4% during the 3rd quarter. Central Pacific Bank Trust Division now owns 86 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 22 shares in the last quarter. 93.31% of the stock is currently owned by institutional investors and hedge funds.
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.
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