Roper cuts annual profit forecast as acquisition costs bite

Roper Technologies 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.