Oct. 23 at 4:13 PM
$ROP cut its annual profit forecast on Thursday, as it expects higher costs related to acquisitions in the third quarter, sending the software company's shares down 7%.
The company has grown largely through acquisitions, establishing itself as a provider of software and automated solutions to a variety of sectors, including healthcare, transportation and education.
Roper has more than
$5 billion in capital available for merger and acquisitions over the next 12 months, it said.
It now expects adjusted earnings per share between
$19.90 and
$19.95 for the year, compared with its earlier expectation of
$19.90 to
$20.05. The forecast assumed about 10 cents of adjusted EPS dilution from quarterly acquisitions.
The company said it deployed
$1.3 billion for acquisitions in the third quarter.
