Portfolio Design Labs LLC Boosts Stock Position in Roper Technologies, Inc. (NYSE:ROP)

Portfolio Design Labs LLC grew its holdings in Roper Technologies, Inc. (NYSE:ROP) by 20.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 6,063 shares of the industrial products company’s stock after acquiring an additional 1,016 shares during the quarter. Portfolio Design Labs LLC’s holdings in Roper Technologies were worth $3,152,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ROP. Wellington Management Group LLP increased its position in shares of Roper Technologies by 87.8% during the third quarter. Wellington Management Group LLP now owns 738,582 shares of the industrial products company’s stock worth $410,977,000 after purchasing an additional 345,268 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of Roper Technologies during the fourth quarter worth approximately $69,382,000. Loomis Sayles & Co. L P increased its position in shares of Roper Technologies by 25.8% during the third quarter. Loomis Sayles & Co. L P now owns 648,427 shares of the industrial products company’s stock worth $360,811,000 after purchasing an additional 132,913 shares in the last quarter. State Street Corp increased its position in shares of Roper Technologies by 2.9% during the third quarter. State Street Corp now owns 4,730,427 shares of the industrial products company’s stock worth $2,632,199,000 after purchasing an additional 132,575 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in shares of Roper Technologies by 37.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 427,943 shares of the industrial products company’s stock worth $238,125,000 after purchasing an additional 116,523 shares in the last quarter. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Jason Conley sold 3,000 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $578.05, for a total transaction of $1,734,150.00. Following the transaction, the chief financial officer now owns 31,522 shares of the company’s stock, valued at approximately $18,221,292.10. This represents a 8.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John K. Stipancich sold 1,000 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $578.04, for a total value of $578,040.00. Following the transaction, the vice president now directly owns 38,932 shares in the company, valued at approximately $22,504,253.28. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,101 shares of company stock valued at $2,947,475 in the last quarter. Insiders own 0.87% of the company’s stock.

Roper Technologies Stock Performance

Shares of Roper Technologies stock opened at $581.35 on Wednesday. Roper Technologies, Inc. has a 52 week low of $499.47 and a 52 week high of $584.43. The business’s fifty day simple moving average is $537.59 and its 200-day simple moving average is $545.38. The firm has a market cap of $62.34 billion, a PE ratio of 31.85, a price-to-earnings-growth ratio of 2.78 and a beta of 1.05. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.35.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ROP. Oppenheimer boosted their price target on Roper Technologies from $630.00 to $640.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Robert W. Baird boosted their price target on Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Raymond James restated a “strong-buy” rating and issued a $655.00 target price (up from $620.00) on shares of Roper Technologies in a report on Friday, January 31st. TD Cowen upgraded Roper Technologies from a “hold” rating to a “buy” rating and upped their target price for the company from $535.00 to $615.00 in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. upped their target price on Roper Technologies from $539.00 to $558.00 and gave the company a “neutral” rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $622.30.

Roper Technologies Profile

Roper Technologies, Inc designs and develops software, and technology enabled products and solutions. It operates through three segments: Application Software, Network Software, and Technology Enabled Products. The Application Software segment offers management, campus solutions, diagnostic and laboratory information management, enterprise software and information solutions, transportation management, financial and compliance management, and cloud-based financial analytics and performance management software; cloud-based software to the property and casualty insurance industry; and software, services, and technologies for foodservice operations.