Roper Technologies (NYSE:ROP) Shares Gap Up – Here’s Why

Shares of Roper Technologies, Inc. (NYSE:ROP) gapped up before the market opened 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.

Analyst Upgrades and Downgrades

ROP has been the subject of several analyst reports. Robert W. Baird upped their target price on Roper Technologies from $635.00 to $652.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. TD Cowen raised shares of Roper Technologies from a “hold” rating to a “buy” rating and upped their price objective for the company from $535.00 to $615.00 in a research note on Tuesday. Truist Financial reissued a “buy” rating and issued a $675.00 target price (up from $665.00) on shares of Roper Technologies in a research report on Friday. JPMorgan Chase & Co. upped their price target on shares of Roper Technologies from $539.00 to $558.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Mizuho lifted their price target on shares of Roper Technologies from $530.00 to $565.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $622.30.

Roper Technologies Stock Performance

The firm has a market capitalization of $61.73 billion, a price-to-earnings ratio of 42.11, a price-to-earnings-growth ratio of 2.60 and a beta of 1.04. The company has a 50-day moving average of $535.93 and a 200-day moving average of $544.98. The company has a current ratio of 0.48, a quick ratio of 0.44 and a debt-to-equity ratio of 0.41.

Roper Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 3rd were paid a $0.825 dividend. This is an increase from Roper Technologies’s previous quarterly dividend of $0.75. This represents a $3.30 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend was Friday, January 3rd. Roper Technologies’s payout ratio is presently 23.01%.

Institutional Investors Weigh In On Roper Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Fortitude Family Office LLC bought a new position in Roper Technologies in the 3rd quarter worth approximately $28,000. E Fund Management Hong Kong Co. Ltd. boosted its position in Roper Technologies by 7,500.0% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 76 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 75 shares during the period. Golden State Wealth Management LLC bought a new position in shares of Roper Technologies in the fourth quarter worth $45,000. Central Pacific Bank Trust Division increased its holdings in shares of Roper Technologies by 34.4% during the third quarter. Central Pacific Bank Trust Division now owns 86 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 22 shares during the period. Finally, Ameliora Wealth Management Ltd. bought a new stake in shares of Roper Technologies during the fourth quarter valued at about $49,000. 93.31% of the stock is currently owned by institutional investors.

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.