Roper Technologies (NYSE:ROP) Hits New 52-Week High – What’s Next?

Roper Technologies, Inc. (NYSE:ROP) reached a new 52-week high on Tuesday . The company traded as high as $586.28 and last traded at $587.95, with a volume of 102796 shares. The stock had previously closed at $576.58.

Analyst Ratings Changes

ROP has been the subject of a number of recent analyst reports. TD Cowen raised Roper Technologies from a “hold” rating to a “buy” rating and raised their price objective for the stock from $535.00 to $615.00 in a research report on Tuesday, January 28th. Oppenheimer lifted their price target on shares of Roper Technologies from $630.00 to $640.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Robert W. Baird set a $665.00 price objective on shares of Roper Technologies in a report on Friday, January 31st. Raymond James reaffirmed a “strong-buy” rating and set a $655.00 price objective (up previously from $620.00) on shares of Roper Technologies in a research report on Friday, January 31st. Finally, Truist Financial reissued a “buy” rating and issued a $675.00 target price (up previously from $665.00) on shares of Roper Technologies in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Roper Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $623.60.

Roper Technologies Stock Performance

The stock has a 50-day moving average price of $541.92 and a 200 day moving average price of $548.28. The firm has a market capitalization of $63.21 billion, a price-to-earnings ratio of 41.12, a P/E/G ratio of 2.77 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.

Insider Buying and Selling at Roper Technologies

In related news, VP Brandon L. Cross sold 750 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $577.83, for a total value of $433,372.50. Following the transaction, the vice president now directly owns 1,329 shares of the company’s stock, valued at $767,936.07. This trade represents a 36.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard F. Wallman sold 351 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $575.25, for a total transaction of $201,912.75. Following the completion of the sale, the director now directly owns 20,187 shares of the company’s stock, valued at approximately $11,612,571.75. This trade represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,101 shares of company stock valued at $2,947,475. Insiders own 0.87% of the company’s stock.

Institutional Trading of Roper Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. United Advisor Group LLC increased its position in Roper Technologies by 13.3% during the fourth quarter. United Advisor Group LLC now owns 977 shares of the industrial products company’s stock worth $508,000 after buying an additional 115 shares during the period. Challenger Wealth Management purchased a new position in shares of Roper Technologies during the fourth quarter worth approximately $388,000. Ascent Group LLC increased its holdings in shares of Roper Technologies by 2.6% in the 4th quarter. Ascent Group LLC now owns 7,333 shares of the industrial products company’s stock valued at $3,812,000 after acquiring an additional 184 shares during the period. Putney Financial Group LLC purchased a new stake in Roper Technologies in the 4th quarter valued at $31,000. Finally, Mackenzie Financial Corp boosted its stake in Roper Technologies by 1.7% during the 4th quarter. Mackenzie Financial Corp now owns 1,165,053 shares of the industrial products company’s stock worth $605,653,000 after purchasing an additional 19,377 shares during the period. Institutional investors and hedge funds own 93.31% of the company’s stock.

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.