Roper Techno Stock Price, News & Analysis

GoodShip has announced a new data partnership with DAT Freight & Analytics to integrate DAT iQ spot and contract rates into GoodShip's all-in-one freight orchestration platform. This integration will enhance GoodShip customers' ability to benchmark rates, analyze carrier bids, and receive smart recommendations for cost savings opportunities.

DAT iQ provides access to AI-powered rate models for spot and contract pricing on virtually every trucking lane in North America. The models are trained on $150 billion in annual market transactions and are updated daily. The integration process is streamlined and self-service, allowing shippers to easily activate and customize the data feed within the GoodShip platform.

This partnership aims to provide customers with a more agile and modern solution for freight orchestration and procurement, leveraging DAT's market intelligence to enhance decision-making and cost-efficiency in transportation networks.

Roper Technologies (Nasdaq: ROP) has priced a public offering of $2 billion in senior unsecured notes, comprising $500 million of 4.500% notes due 2029, $500 million of 4.750% notes due 2032, and $1 billion of 4.900% notes due 2034. The offering is expected to close on August 21, 2024. Net proceeds will be used to repay borrowings, including those for the expected acquisition of Transact Campus, repay 2.350% Senior Notes due 2024, and for general corporate purposes. The offering is not conditioned on the Transact acquisition. Multiple financial institutions are serving as book-running managers and co-managers for the notes. The offering is made pursuant to an effective shelf registration statement.

DAT Freight & Analytics reports that spot truckload freight volumes in July were stable for the second consecutive month and up over 10% year-over-year, potentially signaling an end to the two-year decline in truckload service demand. The DAT Truckload Volume Index (TVI) showed increases for van and refrigerated loads, while flatbed loads decreased slightly. Notably, national average dry van and reefer spot linehaul rates were not year-over-year negative for the first time in 27 months.

Key points:

• Van TVI: 273, up 0.7% month-over-month and 10% year-over-year
• Reefer TVI: 205, up 1.5% month-over-month and 13% year-over-year
• Flatbed TVI: 271, down 3.2% month-over-month but up 4% year-over-year
• National average spot van rate: $2.06 per mile, down 1 cent
• National average spot reefer rate: $2.45 per mile, unchanged
• National average spot flatbed rate: $2.60 per mile, down 3 cents

Roper Technologies (Nasdaq: ROP) has announced its acquisition of Transact Campus for a net purchase price of $1.5 billion, including a $100 million tax benefit. The deal represents approximately 14 times Transact's expected 2025 EBITDA. Transact, a provider of campus technology and payment solutions, will be combined with Roper's CBORD business, which offers similar services to healthcare facilities and educational institutions.

The merged entity will utilize both Transact and CBORD brand names, led by Transact's CEO Nancy Langer, with CBORD's CEO Dan Park serving as COO. Roper expects Transact to contribute approximately $325 million in revenue and $105 million in EBITDA in 2025, with long-term high single-digit organic revenue growth anticipated. The acquisition aligns with Roper's strategy of acquiring businesses with mission-critical solutions and strong customer retention.

Transact Campus Inc., a leader in campus technology and payment solutions, has announced its sale to Roper Technologies, Inc. (NASDAQ: ROP) for $1.6 billion. The transaction, expected to close this quarter, will combine Transact with Roper's CBORD business. Nancy Langer, Transact's CEO, will lead the combined entity.

Reverence Capital Partners, which acquired Transact from Blackboard Inc. in 2019, will sell its majority stake to Roper. The deal aims to provide Transact customers with continued access to existing products and services while benefiting from a more scaled platform. William Blair acted as the exclusive financial advisor to Transact and Reverence, with Cooley LLP serving as legal counsel.

Aderant, a leader in legal business management software, is set to make a significant impact at ILTACON 2024 in Nashville. The company will unveil several new technology solutions, including:

• Stridyn: An AI-driven cloud platform powering Aderant's product suite
• viAllocate: A solution for optimal lawyer staffing on matters
• AR Automation: An AI-enabled tool for cash receipt matching
• General Ledger (GL) module: Offering improved usability and AI-delivered insights

Aderant will also lead discussions on AI chatbots and collaborate with Vanderbilt Law School to explore innovative legal tech education in law schools. The company's presence at ILTACON 2024 underscores its commitment to driving innovation in the legal technology sector.

iPipeline, a leading digital solutions provider for the life insurance and wealth management industries, has appointed Steve Cover as Chief Technology Officer (CTO). Cover, with over 30 years of experience in leading technology teams, will establish the company's future technical vision and roadmap. His role focuses on delivering innovative solutions to digitally transform these industries, enhancing speed, efficiency, and growth for market participants.

Cover's appointment aligns with iPipeline's accelerated growth strategy and commitment to technological innovation. He joins recent C-suite hires including Chief Product Officer Katie Kahl and Chief Financial Officer Adam Boone. Cover's expertise in implementing technological visions, transforming software development processes, and modernizing product architectures is expected to drive iPipeline's mission of platforming the future of financial services.

Roper Technologies (Nasdaq: ROP) reported solid Q2 2024 financial results, with revenue increasing 12% to $1.72 billion and organic revenue growing 4%. Adjusted EBITDA rose 13% to $695 million, while operating cash flow increased 20% to $384 million. The company updated its 2024 guidance, now expecting full-year adjusted DEPS of $18.10 - $18.25, up from the previous $18.05 - $18.25 range. Roper maintains its projection for 12% total revenue growth and 6% organic revenue growth for the year. The company's strong performance is attributed to its portfolio of market-leading technology businesses, with trailing-twelve-month adjusted free cash flow reaching $2.1 billion, representing 32% of revenue.

Aderant, a global legal business management software provider, has appointed Michael McKay as Vice President of Software Engineering. McKay, a patent holder and tech innovator, brings 25 years of experience from IBM and his recent role as Executive Director at NCR. He will be responsible for advancing Aderant's practice-of-law technologies, including the vi by Aderant people management suite and Milana cloud-based calendaring solution. McKay will also oversee the company's data and AI strategy, which has produced solutions like the recently launched askMADDI AI-driven chatbot. His appointment aligns with Aderant's focus on attracting talent from the mainstream tech sector to enhance productivity and efficiency for clients and internal teams.