Progressive Investment Management Corp Sells 186 Shares of Roper Technologies, Inc. $ROP

Progressive Investment Management Corp reduced its position in Roper Technologies, Inc. (NASDAQ:ROP) by 1.1% in the second quarter, HoldingsChannel.com reports. The firm owned 16,825 shares of the industrial products company’s stock after selling 186 shares during the period. Roper Technologies accounts for approximately 2.4% of Progressive Investment Management Corp’s investment portfolio, making the stock its 18th biggest holding. Progressive Investment Management Corp’s holdings in Roper Technologies were worth $9,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of ROP. CWA Asset Management Group LLC boosted its position in shares of Roper Technologies by 8.6% during the first quarter. CWA Asset Management Group LLC now owns 768 shares of the industrial products company’s stock worth $453,000 after acquiring an additional 61 shares during the last quarter. Freedom Day Solutions LLC bought a new position in shares of Roper Technologies during the first quarter worth $1,808,000. Tandem Investment Advisors Inc. boosted its position in shares of Roper Technologies by 49.9% during the first quarter. Tandem Investment Advisors Inc. now owns 98,229 shares of the industrial products company’s stock worth $57,914,000 after acquiring an additional 32,694 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Roper Technologies by 76.4% during the first quarter. GAMMA Investing LLC now owns 1,891 shares of the industrial products company’s stock worth $1,115,000 after acquiring an additional 819 shares during the last quarter. Finally, Legacy Advisors LLC bought a new position in shares of Roper Technologies during the first quarter worth $264,000. 93.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ROP has been the subject of a number of research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Roper Technologies in a research report on Wednesday, October 8th. Truist Financial increased their price objective on shares of Roper Technologies from $675.00 to $685.00 and gave the company a “buy” rating in a research report on Tuesday, July 22nd. Royal Bank Of Canada increased their price objective on shares of Roper Technologies from $695.00 to $703.00 and gave the company an “outperform” rating in a research report on Tuesday, July 22nd. Barclays lowered their price objective on shares of Roper Technologies from $562.00 to $550.00 and set an “underweight” rating for the company in a research report on Wednesday, October 1st. Finally, Citigroup assumed coverage on shares of Roper Technologies in a research report on Wednesday, August 20th. They set a “buy” rating and a $626.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Roper Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $623.82.

Insider Activity

In related news, VP John K. Stipancich sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $564.17, for a total value of $846,255.00. Following the transaction, the vice president owned 38,932 shares of the company’s stock, valued at $21,964,266.44. This trade represents a 3.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard F. Wallman sold 352 shares of the firm’s stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $556.25, for a total transaction of $195,800.00. Following the completion of the transaction, the director directly owned 20,510 shares in the company, valued at $11,408,687.50. This represents a 1.69% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.78% of the company’s stock.

Roper Technologies Trading Up 0.9%

Shares of ROP opened at $504.52 on Friday. Roper Technologies, Inc. has a twelve month low of $492.25 and a twelve month high of $595.17. The company has a market cap of $54.29 billion, a P/E ratio of 35.45, a P/E/G ratio of 2.34 and a beta of 1.00. The company has a current ratio of 0.46, a quick ratio of 0.43 and a debt-to-equity ratio of 0.40. The company’s fifty day simple moving average is $515.32 and its 200-day simple moving average is $544.99.

Roper Technologies (NASDAQ:ROP) last announced its earnings results on Thursday, January 30th. The industrial products company reported $4.81 earnings per share for the quarter. Roper Technologies had a net margin of 20.62% and a return on equity of 10.83%. The business had revenue of $1.88 billion for the quarter. Roper Technologies has set its FY 2025 guidance at 19.750-20.000 EPS. Q1 2025 guidance at 4.700-4.740 EPS. As a group, analysts expect that Roper Technologies, Inc. will post 19.96 EPS for the current year.

Roper Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, October 3rd were paid a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, October 3rd. Roper Technologies’s dividend payout ratio (DPR) is currently 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.