8 Best Scientific Instruments Stocks to Buy

3. Roper Technologies, Inc. (NYSE:ROP)

Number of Hedge Fund Holders: 43

Roper Technologies, Inc. (NYSE:ROP) specializing in designing and developing software, as well as technology-enabled products and solutions, recently declared a dividend of $0.75 per share, scheduled for distribution on July 22 to stockholders of record as of July 8. The company also reported strong growth for the first quarter of 2024, with total revenue up by 14%, organic revenue by 8%, and EBITDA by 16%. Additionally, Roper Technologies, Inc. (NYSE:ROP) managed to complete the acquisition of Procare Solutions for $1.75 billion, which is expected to add $20 million in revenue. In light of these positive developments, the company has raised its full-year 2024 guidance, now projecting total revenue growth of 12% and organic revenue growth of 6%.

However, some analysts remain cautious about Roper Technologies, Inc. (NYSE:ROP)’s future performance. Wolfe Research recently downgraded the stock from Outperform to Peer Perform, aligning its valuation with other vertical software industry peers. Looking ahead, Wolfe Research notes that the company’s capital deployment strategy could significantly impact the stock’s performance, with the firm estimating that Roper Technologies, Inc. (NYSE:ROP) has over $5 billion in surplus capital available through the end of 2025, which could act as a catalyst for the stock.

By the end of the first quarter of this year, 43 out of the 919 hedge funds tracked by Insider Monkey held stakes in Roper Technologies, Inc. (NYSE:ROP). The largest stakeholder among them was Akre Capital Management, with a $866.3 million investment.