abrdn plc Cuts Stock Holdings in Roper Technologies, Inc. (NYSE:ROP)

abrdn plc reduced its stake in Roper Technologies, Inc. (NYSE:ROP) by 15.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 30,142 shares of the industrial products company’s stock after selling 5,353 shares during the quarter. abrdn plc’s holdings in Roper Technologies were worth $15,631,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its position in shares of Roper Technologies by 5.4% during the third quarter. PNC Financial Services Group Inc. now owns 34,652 shares of the industrial products company’s stock valued at $19,282,000 after purchasing an additional 1,789 shares in the last quarter. Citigroup Inc. boosted its stake in shares of Roper Technologies by 17.6% in the 3rd quarter. Citigroup Inc. now owns 190,587 shares of the industrial products company’s stock worth $106,050,000 after buying an additional 28,555 shares during the last quarter. Douglas Lane & Associates LLC grew its holdings in shares of Roper Technologies by 18.9% in the fourth quarter. Douglas Lane & Associates LLC now owns 109,656 shares of the industrial products company’s stock valued at $57,005,000 after acquiring an additional 17,466 shares in the last quarter. Synovus Financial Corp increased its position in shares of Roper Technologies by 19.6% during the third quarter. Synovus Financial Corp now owns 5,867 shares of the industrial products company’s stock valued at $3,265,000 after acquiring an additional 961 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Roper Technologies by 8.5% during the fourth quarter. Nordea Investment Management AB now owns 538,678 shares of the industrial products company’s stock worth $280,113,000 after acquiring an additional 42,016 shares during the period. 93.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Roper Technologies

In other Roper Technologies news, Director Richard F. Wallman sold 351 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $575.25, for a total value of $201,912.75. Following the transaction, the director now directly owns 20,187 shares in the company, valued at $11,612,571.75. This represents a 1.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jason Conley sold 3,000 shares of Roper Technologies stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $578.05, for a total value of $1,734,150.00. Following the sale, the chief financial officer now owns 31,522 shares of the company’s stock, valued at approximately $18,221,292.10. This trade represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,101 shares of company stock valued at $2,947,475. Corporate insiders own 0.87% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ROP shares. Raymond James reiterated a “strong-buy” rating and set a $655.00 target price (up from $620.00) on shares of Roper Technologies in a research note on Friday, January 31st. Mizuho increased their target price on shares of Roper Technologies from $530.00 to $565.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. TD Cowen raised shares of Roper Technologies from a “hold” rating to a “buy” rating and lifted their price target for the stock from $535.00 to $615.00 in a report on Tuesday, January 28th. Truist Financial reissued a “buy” rating and set a $675.00 price objective (up from $665.00) on shares of Roper Technologies in a report on Friday, January 31st. Finally, Oppenheimer boosted their target price on Roper Technologies from $630.00 to $640.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Roper Technologies has an average rating of “Moderate Buy” and an average target price of $622.30.

Roper Technologies Stock Up 0.3 %

ROP stock opened at $583.42 on Friday. The stock has a 50-day simple moving average of $536.97 and a two-hundred day simple moving average of $545.01. Roper Technologies, Inc. has a twelve month low of $499.47 and a twelve month high of $584.31. The firm has a market capitalization of $62.56 billion, a PE ratio of 40.68, a PEG ratio of 2.76 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.

About Roper Technologies

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.