Roper Technologies, Inc. (NYSE:ROP) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System boosted its position in Roper Technologies, Inc. (NYSE:ROP) by 0.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 30,754 shares of the industrial products company’s stock after purchasing an additional 77 shares during the quarter. Arizona State Retirement System’s holdings in Roper Technologies were worth $15,987,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ROP. QRG Capital Management Inc. lifted its position in Roper Technologies by 7.3% in the third quarter. QRG Capital Management Inc. now owns 1,919 shares of the industrial products company’s stock worth $1,068,000 after purchasing an additional 130 shares during the period. United Advisor Group LLC lifted its position in Roper Technologies by 26.2% in the third quarter. United Advisor Group LLC now owns 862 shares of the industrial products company’s stock worth $480,000 after purchasing an additional 179 shares during the period. Marks Group Wealth Management Inc lifted its position in Roper Technologies by 278.6% in the third quarter. Marks Group Wealth Management Inc now owns 20,908 shares of the industrial products company’s stock worth $11,634,000 after purchasing an additional 15,386 shares during the period. Ballast Advisors LLC lifted its position in Roper Technologies by 1.3% in the third quarter. Ballast Advisors LLC now owns 1,656 shares of the industrial products company’s stock worth $921,000 after purchasing an additional 21 shares during the period. Finally, Concurrent Investment Advisors LLC lifted its position in Roper Technologies by 9.1% in the third quarter. Concurrent Investment Advisors LLC now owns 3,819 shares of the industrial products company’s stock worth $2,125,000 after purchasing an additional 320 shares during the period. 93.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Richard F. Wallman sold 351 shares of the company’s stock in a transaction on Friday, January 31st. The shares were 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 of the company’s stock, valued at approximately $11,612,571.75. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jason Conley sold 3,000 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $588.19, for a total transaction of $1,764,570.00. Following the completion of the transaction, the chief financial officer now directly owns 31,522 shares in the company, valued at $18,540,925.18. This trade represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,101 shares of company stock worth $4,712,045 over the last quarter. Corporate insiders own 0.87% of the company’s stock.

Roper Technologies Price Performance

ROP opened at $593.81 on Thursday. The stock has a fifty day moving average of $549.76 and a 200-day moving average of $550.66. The firm has a market capitalization of $63.77 billion, a P/E ratio of 41.41, a PEG ratio of 2.77 and a beta of 1.05. Roper Technologies, Inc. has a 12-month low of $499.47 and a 12-month high of $595.17. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.35.

Wall Street Analyst Weigh In

ROP has been the subject of a number of research analyst reports. Robert W. Baird set a $665.00 target price on Roper Technologies in a research report on Friday, January 31st. Raymond James reiterated 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. TD Cowen upgraded Roper Technologies from a “hold” rating to a “buy” rating and increased their price objective for the company from $535.00 to $615.00 in a research report on Tuesday, January 28th. Barclays cut their price objective on Roper Technologies from $569.00 to $562.00 and set an “underweight” rating for the company in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. increased their price objective on Roper Technologies from $539.00 to $558.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $623.60.

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.