Roper Technologies (NYSE:ROP) Given New $630.00 Price Target at Oppenheimer

Roper Technologies (NYSE:ROP) had its price objective cut by equities researchers at Oppenheimer from $650.00 to $630.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price objective suggests a potential upside of 16.47% from the company’s previous close.

Several other equities analysts have also recently issued reports on ROP. Wolfe Research cut shares of Roper Technologies from an “outperform” rating to a “peer perform” rating in a research note on Thursday, June 13th. Robert W. Baird raised shares of Roper Technologies from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $617.00 to $635.00 in a research note on Thursday. Barclays lifted their price objective on shares of Roper Technologies from $611.00 to $625.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Mizuho lifted their target price on shares of Roper Technologies from $525.00 to $530.00 and gave the stock a “neutral” rating in a research report on Monday, April 29th. Finally, Royal Bank of Canada dropped their target price on shares of Roper Technologies from $696.00 to $680.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $605.00.

Roper Technologies Price Performance

Roper Technologies stock traded up $8.94 during trading hours on Thursday, hitting $540.91. 76,386 shares of the company traded hands, compared to its average volume of 516,982. The firm has a market cap of $57.90 billion, a P/E ratio of 39.36, a P/E/G ratio of 3.01 and a beta of 1.02. The company has a quick ratio of 0.45, a current ratio of 0.49 and a debt-to-equity ratio of 0.41. The firm’s 50-day simple moving average is $553.54 and its two-hundred day simple moving average is $545.33. Roper Technologies has a 1-year low of $474.46 and a 1-year high of $579.10.

Roper Technologies (NYSE:ROP) last released its earnings results on Wednesday, July 24th. The industrial products company reported $4.48 EPS for the quarter, beating the consensus estimate of $4.46 by $0.02. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Roper Technologies had a net margin of 23.21% and a return on equity of 10.75%. As a group, analysts forecast that Roper Technologies will post 18.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, 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 transaction of $1,970,570.00. Following the completion of the sale, the chief financial officer now directly owns 33,685 shares in the company, valued at $18,965,328.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Roper Technologies news, CFO Jason Conley sold 3,500 shares of Roper Technologies 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 sale, the chief financial officer now directly owns 33,685 shares in the company, valued at $18,965,328.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher Wright sold 300 shares of Roper Technologies stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $554.67, for a total transaction of $166,401.00. Following the completion of the sale, the director now owns 35,247 shares of the company’s stock, valued at $19,550,453.49. The disclosure for this sale can be found here. 0.87% of the stock is currently owned by corporate insiders.

Institutional Trading of Roper Technologies

A number of institutional investors have recently added to or reduced their stakes in ROP. Atlantic Union Bankshares Corp acquired a new stake in shares of Roper Technologies in the second quarter worth $5,128,000. LRI Investments LLC lifted its stake in shares of Roper Technologies by 2,400.0% in the second quarter. LRI Investments LLC now owns 200 shares of the industrial products company’s stock worth $113,000 after buying an additional 192 shares during the last quarter. Cornerstone Wealth Group LLC acquired a new stake in shares of Roper Technologies in the second quarter worth $216,000. Leonard Rickey Investment Advisors P.L.L.C. acquired a new stake in shares of Roper Technologies in the second quarter worth $205,000. Finally, My Legacy Advisors LLC acquired a new stake in shares of Roper Technologies in the second quarter worth $831,000. 93.31% of the stock is currently owned by institutional investors and hedge funds.

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.