Weitz Investment Management Inc. Sells 35,075 Shares of Roper Technologies, Inc. (NYSE:ROP)

Weitz Investment Management Inc. lessened its stake in shares of Roper Technologies, Inc. (NYSE:ROP - Free Report) by 52.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 31,425 shares of the industrial products company's stock after selling 35,075 shares during the quarter. Weitz Investment Management Inc.'s holdings in Roper Technologies were worth $16,336,000 as of its most recent SEC filing.

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Several other institutional investors also recently modified their holdings of the stock. Manchester Capital Management LLC grew its position in Roper Technologies by 1.6% during the 4th quarter. Manchester Capital Management LLC now owns 1,139 shares of the industrial products company's stock worth $592,000 after acquiring an additional 18 shares during the last quarter. Oxford Financial Group LTD. LLC grew its holdings in shares of Roper Technologies by 3.1% during the fourth quarter. Oxford Financial Group LTD. LLC now owns 594 shares of the industrial products company's stock worth $309,000 after purchasing an additional 18 shares during the last quarter. Meridian Financial Partners LLC increased its stake in shares of Roper Technologies by 1.0% in the fourth quarter. Meridian Financial Partners LLC now owns 2,052 shares of the industrial products company's stock valued at $1,067,000 after buying an additional 20 shares during the period. Principal Securities Inc. raised its holdings in Roper Technologies by 0.5% in the 4th quarter. Principal Securities Inc. now owns 4,291 shares of the industrial products company's stock valued at $2,231,000 after buying an additional 20 shares during the last quarter. Finally, Exchange Capital Management Inc. boosted its position in Roper Technologies by 0.7% during the 4th quarter. Exchange Capital Management Inc. now owns 2,744 shares of the industrial products company's stock worth $1,426,000 after buying an additional 20 shares during the period. 93.31% of the stock is currently owned by institutional investors and hedge funds.

Roper Technologies Stock Performance

Shares of ROP stock opened at $590.78 on Wednesday. The firm has a 50 day moving average of $573.39 and a 200-day moving average of $554.28. The company has a market cap of $63.44 billion, a price-to-earnings ratio of 41.20, a price-to-earnings-growth ratio of 2.77 and a beta of 1.06. 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, Inc. has a 52 week low of $499.47 and a 52 week high of $595.17.

Roper Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders 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 0.56%. The ex-dividend date of this dividend is Friday, April 4th. Roper Technologies's payout ratio is 23.01%.

Insider Activity

In other news, Director Richard F. Wallman sold 351 shares of the business's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $575.25, for a total transaction of $201,912.75. Following the completion of the sale, the director now owns 20,187 shares in the company, valued at $11,612,571.75. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Jason Conley sold 3,000 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $578.05, for a total value of $1,734,150.00. Following the completion of the transaction, the chief financial officer now owns 31,522 shares in the company, valued at approximately $18,221,292.10. This represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,101 shares of company stock worth $4,712,045. Company insiders own 0.87% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on ROP. TD Cowen upgraded shares of Roper Technologies from a "hold" rating to a "buy" rating and upped their price target for the company from $535.00 to $615.00 in a research report on Tuesday, January 28th. Robert W. Baird set a $665.00 price objective on Roper Technologies in a report on Friday, January 31st. Oppenheimer lifted their target price on Roper Technologies from $630.00 to $640.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. Barclays decreased their price target on Roper Technologies from $569.00 to $562.00 and set an "underweight" rating for the company in a research note on Wednesday, January 8th. Finally, Stifel Nicolaus began coverage on Roper Technologies in a research note on Thursday, March 27th. They issued a "buy" rating and a $685.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Roper Technologies presently has an average rating of "Moderate Buy" and an average target price of $629.18.

Read Our Latest Analysis on ROP

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.

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