State of New Jersey Common Pension Fund D Lowers Position in Roper Technologies, Inc. (NYSE:ROP)

State of New Jersey Common Pension Fund D lowered its holdings in Roper Technologies, Inc. (NYSE:ROP) by 33.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,744 shares of the industrial products company’s stock after selling 19,751 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Roper Technologies were worth $21,838,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New Covenant Trust Company N.A. purchased a new stake in shares of Roper Technologies in the 1st quarter valued at about $25,000. Rise Advisors LLC bought a new position in shares of Roper Technologies during the 1st quarter valued at about $27,000. OFI Invest Asset Management bought a new position in shares of Roper Technologies during the 1st quarter valued at about $29,000. Versant Capital Management Inc increased its position in shares of Roper Technologies by 58.8% during the 2nd quarter. Versant Capital Management Inc now owns 54 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 20 shares during the last quarter. Finally, Covestor Ltd increased its position in shares of Roper Technologies by 50.0% during the 1st quarter. Covestor Ltd now owns 60 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ROP shares. Truist Financial reiterated a “buy” rating and set a $660.00 price objective on shares of Roper Technologies in a research report on Tuesday, August 27th. Jefferies Financial Group increased their price objective on Roper Technologies from $625.00 to $635.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Baird R W upgraded Roper Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 25th. Wolfe Research lowered Roper Technologies from an “outperform” rating to a “peer perform” rating in a research report on Thursday, June 13th. Finally, Royal Bank of Canada increased their price objective on Roper Technologies from $674.00 to $675.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $616.00.

Roper Technologies Price Performance

ROP opened at $551.31 on Friday. The stock’s 50 day simple moving average is $548.08 and its 200 day simple moving average is $544.95. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.53 and a quick ratio of 0.48. Roper Technologies, Inc. has a 1 year low of $474.46 and a 1 year high of $579.10. The firm has a market cap of $59.10 billion, a price-to-earnings ratio of 40.01, a PEG ratio of 2.87 and a beta of 1.02.

Roper Technologies (NYSE:ROP) last released its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $4.48 earnings per share for the quarter, topping the consensus estimate of $4.46 by $0.02. Roper Technologies had a return on equity of 10.77% and a net margin of 22.14%. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.72 billion. As a group, analysts predict that Roper Technologies, Inc. will post 18.16 earnings per share for the current year.

Insiders Place Their Bets

In other Roper Technologies news, CFO Jason Conley sold 3,500 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $563.02, for a total value of $1,970,570.00. Following the completion of the sale, the chief financial officer now owns 33,685 shares in the company, valued at approximately $18,965,328.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Robert D. Johnson sold 140 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $550.34, for a total value of $77,047.60. Following the completion of the transaction, the director now owns 5,909 shares in the company, valued at approximately $3,251,959.06. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Jason Conley sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $563.02, for a total value of $1,970,570.00. Following the completion of the transaction, the chief financial officer now owns 33,685 shares of the company’s stock, valued at approximately $18,965,328.70. The disclosure for this sale can be found here. Company insiders own 0.87% of the company’s stock.

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.