ITHACA, N.Y. - CBORD, a technology solutions provider, has obtained StateRAMP Authorization for its Online Transaction Processing solution, reinforcing its commitment to high standards of data security and compliance. This authorization by StateRAMP, a nationally recognized risk management program, indicates that the solution meets stringent security requirements, making it a reliable choice for government agencies.
The StateRAMP Authorization process involves a thorough third-party assessment, which CBORD's Online Transaction Processing has successfully passed. This solution is designed to handle financial transactions securely across multiple platforms, ensuring the safety of government data and operations.
Josh Elder, the information security officer at CBORD, stated that the authorization allows the company to showcase its dedication to cybersecurity, essential for serving state and local governments. With this achievement, government entities can use CBORD's authorized solution to enhance their operational efficiency, mitigate risks, and improve data security.
CBORD, part of Roper Technologies (NASDAQ:ROP), provides a range of technology systems, including foodservice, nutrition, security, and commerce platforms, serving thousands of organizations worldwide. The company's focus remains on delivering innovative solutions that improve the daily experiences of various users.
This news is based on a press release statement, and the StateRAMP Authorization confirms CBORD's position as a trusted provider of secure transaction processing for the public sector.
In other recent news, Roper Technologies announced the successful issuance and sale of $2 billion in senior unsecured notes. The funds raised are expected to be used for general corporate purposes, including refinancing of existing debt and potential acquisitions. This move underlines Roper's strategy to secure long-term capital.
In a related development, Roper Technologies recently acquired Transact Campus for $1.5 billion, a move that is expected to significantly expand its presence in the Card Systems/Integrated Security Solutions sector. The acquisition is projected to contribute approximately $325 million in revenue and $105 million of EBITDA in 2025 for Roper.
RBC Capital Markets adjusted its price target on Roper Industries , slightly increasing it to $675, while Jefferies raised the stock's price target to $635, both following the company's recent acquisition announcement. RBC Capital Markets also adjusted its price target for Roper Industries, bringing it down to $674 following the company's second-quarter earnings report which showed a slight operating income beat.
Roper Industries resolved a manufacturing issue at its Neptune mechanical water meters division and has been actively incorporating General Artificial Intelligence into its software offerings. These are the recent developments surrounding Roper Technologies.
InvestingPro Insights
CBORD's parent company, Roper Technologies (NASDAQ:ROP), demonstrates strong financial performance that aligns with its subsidiary's recent achievement in securing StateRAMP Authorization. According to InvestingPro data, Roper Technologies boasts a market capitalization of $58.62 billion, reflecting its significant presence in the technology sector.
The company's revenue growth of 13.7% over the last twelve months, coupled with a robust gross profit margin of 69.9%, underscores its ability to generate value from its diverse portfolio of technology solutions, including CBORD's offerings. This financial strength supports CBORD's capacity to invest in and maintain high-security standards, crucial for government contracts.
InvestingPro Tips highlight Roper Technologies' consistent dividend performance, having raised its dividend for 11 consecutive years and maintained payments for 33 years. This track record of financial stability and shareholder returns complements CBORD's focus on long-term partnerships with government entities.
Moreover, Roper Technologies is noted as a prominent player in the software industry, which aligns with CBORD's position as a leading technology solutions provider. The company's ability to operate with a moderate level of debt further reinforces its capacity to support subsidiaries like CBORD in pursuing growth opportunities and maintaining technological edge in secure transaction processing.
For investors interested in diving deeper into Roper Technologies' potential, InvestingPro offers 12 additional tips, providing a comprehensive view of the company's financial health and market position.
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