Suncoast Equity Management Grows Position in Roper Technologies, Inc. (NYSE:ROP)

Suncoast Equity Management grew its stake in Roper Technologies, Inc. (NYSE:ROP) by 11.1% during the 4th quarter, Holdings Channel reports. The fund owned 1,540 shares of the industrial products company’s stock after acquiring an additional 154 shares during the period. Suncoast Equity Management’s holdings in Roper Technologies were worth $801,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in ROP. Fortitude Family Office LLC purchased a new position in Roper Technologies in the 3rd quarter valued at about $28,000. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Roper Technologies by 7,500.0% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 76 shares of the industrial products company’s stock valued at $40,000 after buying an additional 75 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in shares of Roper Technologies during the fourth quarter valued at approximately $45,000. Ameliora Wealth Management Ltd. acquired a new stake in Roper Technologies during the fourth quarter worth approximately $49,000. Finally, Global Wealth Strategies & Associates grew its stake in Roper Technologies by 49.3% in the 4th quarter. Global Wealth Strategies & Associates now owns 100 shares of the industrial products company’s stock worth $52,000 after acquiring an additional 33 shares during the period. Institutional investors and hedge funds own 93.31% of the company’s stock.

Wall Street Analysts Forecast Growth

ROP has been the topic of several analyst reports. Royal Bank of Canada decreased their price objective on Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Robert W. Baird raised their price target on Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Oppenheimer increased their price target on shares of Roper Technologies from $630.00 to $640.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Barclays reduced their price target 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. Finally, Raymond James reaffirmed a “strong-buy” rating and issued a $655.00 price objective (up previously from $620.00) 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 issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Roper Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $622.30.

Insiders Place Their Bets

In other news, CFO Jason Conley sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $578.05, for a total transaction of $1,734,150.00. Following the sale, the chief financial officer now directly owns 31,522 shares in the company, valued at approximately $18,221,292.10. The trade was a 8.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP John K. Stipancich sold 1,000 shares of Roper Technologies stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $578.04, for a total transaction of $578,040.00. Following the sale, the vice president now owns 38,932 shares in the company, valued at approximately $22,504,253.28. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,101 shares of company stock valued at $2,947,475 in the last quarter. Insiders own 0.87% of the company’s stock.

Roper Technologies Stock Performance

ROP stock opened at $581.42 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 company has a market capitalization of $62.35 billion, a price-to-earnings ratio of 31.50, a P/E/G ratio of 2.75 and a beta of 1.05. Roper Technologies, Inc. has a 12 month low of $499.47 and a 12 month high of $584.43. The firm has a 50 day moving average of $540.62 and a two-hundred day moving average of $547.08.

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.