Roper's Industrial and Energy Segments Continue to Strengthen in 2Q; We're Increasing Our FVE
We’re raising our fair value estimate for narrow-moat Roper Technologies to $198 from $190 per share following strong second-quarter earnings. Time value of money added about $4 to the increase, while the remainder came from increasing near-term revenue expectations for the industrial and energy segments, and operating margin expectations for the RF segment. Indeed, Roper’s 6% year-over-year organic revenue growth rate in the quarter exceeded our expectations. Record sales in Neptune water meter...Roper Technologies designs and develops software and engineered products and solutions for a variety of end markets. The company has four segments: Application Software, which includes Aderant, CBORD, CliniSys, and Data Innovations; Network Software and Systems, which includes ConstructConnect, DAT, Foundry, Inovonics; Measurement and Analytical Solutions, which includes Alpha, CIVCO Medical Solutions, CIVCO Radiotherapy, Dynisco, FMI, Hansen, Hardy, IPA, Logitech, Neptune, Northern Digital, Struers, Technolog, Uson, Verathon; and Process Technologies, which includes AMOT, CCC, Cornell, FTI, Metrix, PAC, Roper Pump, Viatran, Zetec.
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