Edgestream Partners L.P. Grows Stock Position in Roper Technologies, Inc. (NYSE:ROP)

Edgestream Partners L.P. raised its holdings in shares of Roper Technologies, Inc. (NYSE:ROP) by 513.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,878 shares of the industrial products company’s stock after acquiring an additional 12,453 shares during the quarter. Edgestream Partners L.P.’s holdings in Roper Technologies were worth $7,734,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Roper Technologies by 7,500.0% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 76 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 75 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in Roper Technologies during the fourth quarter worth $45,000. Ameliora Wealth Management Ltd. purchased a new position in Roper Technologies during the fourth quarter worth $49,000. J.Safra Asset Management Corp raised its holdings in shares of Roper Technologies by 113.0% in the fourth quarter. J.Safra Asset Management Corp now owns 98 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 52 shares during the last quarter. Finally, Global Wealth Strategies & Associates lifted its position in shares of Roper Technologies by 49.3% in the fourth quarter. Global Wealth Strategies & Associates now owns 100 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 33 shares in the last quarter. Institutional investors and hedge funds own 93.31% of the company’s stock.

Insiders Place Their Bets

In related news, Director Richard F. Wallman sold 351 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $575.25, for a total transaction of $201,912.75. Following the completion of 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jason Conley sold 3,000 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $588.19, for a total value of $1,764,570.00. Following the completion of the sale, the chief financial officer now owns 31,522 shares in the company, valued at $18,540,925.18. The trade was a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,101 shares of company stock valued at $4,712,045 over the last quarter. Insiders own 0.87% of the company’s stock.

Roper Technologies Trading Down 0.9 %

Shares of NYSE ROP opened at $588.29 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.35. The stock’s 50 day moving average price is $550.99 and its two-hundred day moving average price is $550.92. Roper Technologies, Inc. has a 52-week low of $499.47 and a 52-week high of $595.17. The stock has a market capitalization of $63.17 billion, a P/E ratio of 41.02, a PEG ratio of 2.77 and a beta of 1.05.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ROP. Robert W. Baird set a $665.00 target price on shares of Roper Technologies in a research note on Friday, January 31st. Truist Financial reissued a “buy” rating and issued a $675.00 price objective (up previously from $665.00) on shares of Roper Technologies in a research report on Friday, January 31st. Barclays decreased their target price on shares of Roper Technologies from $569.00 to $562.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. boosted their price target on Roper Technologies from $539.00 to $558.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Finally, TD Cowen upgraded 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 report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $623.60.

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.