Akre Capital Management LLC Sells 17,500 Shares of Roper Technologies, Inc. (NYSE:ROP)

Akre Capital Management LLC lowered its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 1.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,481,929 shares of the industrial products company’s stock after selling 17,500 shares during the quarter. Roper Technologies accounts for approximately 6.7% of Akre Capital Management LLC’s portfolio, making the stock its 8th biggest position. Akre Capital Management LLC’s holdings in Roper Technologies were worth $770,381,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in ROP. Norges Bank bought a new position in Roper Technologies during the 4th quarter valued at $914,052,000. JPMorgan Chase & Co. lifted its position in shares of Roper Technologies by 54.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,022,665 shares of the industrial products company’s stock worth $531,633,000 after purchasing an additional 360,632 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Roper Technologies during the fourth quarter worth about $148,070,000. Proficio Capital Partners LLC grew its stake in Roper Technologies by 59,278.6% in the fourth quarter. Proficio Capital Partners LLC now owns 280,267 shares of the industrial products company’s stock worth $145,697,000 after purchasing an additional 279,795 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in Roper Technologies by 15,719.2% during the fourth quarter. Marshall Wace LLP now owns 220,678 shares of the industrial products company’s stock valued at $114,719,000 after buying an additional 219,283 shares in the last quarter. Institutional investors own 93.31% of the company’s stock.

Insider Activity at Roper Technologies

In related news, Director Richard F. Wallman sold 351 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $575.25, for a total value of $201,912.75. Following the completion of the transaction, the director now owns 20,187 shares in the company, valued at $11,612,571.75. This represents a 1.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Jason Conley sold 3,000 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $588.19, for a total transaction of $1,764,570.00. Following the sale, the chief financial officer now owns 31,522 shares in the company, valued at $18,540,925.18. This trade represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,101 shares of company stock worth $4,712,045 in the last three months. 0.87% of the stock is owned by company insiders.

Roper Technologies Price Performance

NYSE ROP opened at $557.24 on Friday. The company has a 50-day moving average price of $571.40 and a two-hundred day moving average price of $554.18. Roper Technologies, Inc. has a 52 week low of $499.47 and a 52 week high of $595.17. The stock has a market cap of $59.84 billion, a price-to-earnings ratio of 38.86, a price-to-earnings-growth ratio of 2.77 and a beta of 1.04. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.35.

Roper Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Friday, April 4th will be issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Friday, April 4th. Roper Technologies’s dividend payout ratio (DPR) is 23.01%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Truist Financial reiterated a “buy” rating and issued a $675.00 target price (up previously from $665.00) on shares of Roper Technologies in a research report on Friday, January 31st. Barclays decreased their price objective 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. Robert W. Baird set a $665.00 target price on shares of Roper Technologies in a report on Friday, January 31st. Oppenheimer lifted their price target on shares of Roper Technologies from $630.00 to $640.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Finally, Raymond James reiterated a “strong-buy” rating and set a $655.00 price objective (up previously from $620.00) on shares of Roper Technologies in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $620.73.

Roper Technologies 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.