Roper Technologies (NYSE:ROP) Price Target Cut to $680.00

Roper Technologies (NYSE:ROP) had its target price reduced by investment analysts at Royal Bank of Canada from $696.00 to $680.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 31.71% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Wells Fargo & Company boosted their price objective on shares of Roper Technologies from $560.00 to $615.00 and gave the stock an “overweight” rating in a research report on Monday, January 22nd. Mizuho boosted their price objective on shares of Roper Technologies from $525.00 to $530.00 and gave the stock a “neutral” rating in a research report on Monday. Oppenheimer boosted their price objective on shares of Roper Technologies from $580.00 to $650.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Barclays boosted their price objective on shares of Roper Technologies from $596.00 to $600.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Finally, TD Cowen downgraded shares of Roper Technologies from an “outperform” rating to a “market perform” rating and set a $535.00 price objective for the company. in a research report on Thursday, January 4th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Roper Technologies has an average rating of “Moderate Buy” and an average price target of $579.83.

Roper Technologies Stock Down 2.0 %

NYSE ROP traded down $10.49 on Monday, hitting $516.29. 313,128 shares of the stock were exchanged, compared to its average volume of 503,012. The company has a quick ratio of 0.45, a current ratio of 0.49 and a debt-to-equity ratio of 0.41. Roper Technologies has a fifty-two week low of $441.06 and a fifty-two week high of $565.00. The company has a market cap of $55.25 billion, a PE ratio of 37.42, a PEG ratio of 2.77 and a beta of 0.99. The company has a 50-day moving average price of $545.05 and a 200-day moving average price of $533.84.

Roper Technologies (NYSE:ROP) last posted its quarterly earnings results on Friday, April 26th. The industrial products company reported $4.41 EPS for the quarter, topping the consensus estimate of $4.34 by $0.07. Roper Technologies had a net margin of 23.21% and a return on equity of 10.75%. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the business posted $3.90 EPS. The firm’s revenue was up 14.4% on a year-over-year basis. Sell-side analysts anticipate that Roper Technologies will post 18.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other Roper Technologies news, Director Christopher Wright sold 200 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $549.71, for a total transaction of $109,942.00. Following the completion of the transaction, the director now owns 35,547 shares in the company, valued at approximately $19,540,541.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.94% of the stock is owned by insiders.

Hedge Funds Weigh In On Roper Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Roper Technologies by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 9,782,155 shares of the industrial products company’s stock valued at $4,737,302,000 after acquiring an additional 100,621 shares during the last quarter. Principal Financial Group Inc. grew its stake in Roper Technologies by 1.7% in the 3rd quarter. Principal Financial Group Inc. now owns 2,528,982 shares of the industrial products company’s stock valued at $1,224,736,000 after acquiring an additional 42,962 shares during the last quarter. Norges Bank acquired a new stake in Roper Technologies in the 4th quarter valued at about $756,176,000. Bank of New York Mellon Corp grew its stake in Roper Technologies by 5.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,314,972 shares of the industrial products company’s stock valued at $737,489,000 after acquiring an additional 68,957 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Roper Technologies by 5.0% in the 3rd quarter. Northern Trust Corp now owns 1,137,241 shares of the industrial products company’s stock valued at $550,743,000 after purchasing an additional 54,396 shares in the last quarter. 93.31% of the stock is owned by institutional investors and hedge funds.

Roper Technologies Company 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.