AlphaQuest LLC Invests $899,000 in Roper Technologies, Inc. (NYSE:ROP)

AlphaQuest LLC purchased a new position in shares of Roper Technologies, Inc. (NYSE:ROP) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,729 shares of the industrial products company’s stock, valued at approximately $899,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp lifted its stake in Roper Technologies by 2.9% in the 3rd quarter. State Street Corp now owns 4,730,427 shares of the industrial products company’s stock valued at $2,632,199,000 after purchasing an additional 132,575 shares during the last quarter. Geode Capital Management LLC grew its holdings in Roper Technologies by 2.1% in the third quarter. Geode Capital Management LLC now owns 2,447,026 shares of the industrial products company’s stock worth $1,357,162,000 after purchasing an additional 51,131 shares during the period. Wellington Management Group LLP grew its holdings in shares of Roper Technologies by 87.8% during the third quarter. Wellington Management Group LLP now owns 738,582 shares of the industrial products company’s stock valued at $410,977,000 after buying an additional 345,268 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Roper Technologies by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 673,193 shares of the industrial products company’s stock worth $349,959,000 after purchasing an additional 24,290 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Roper Technologies by 7.5% in the third quarter. JPMorgan Chase & Co. now owns 662,033 shares of the industrial products company’s stock worth $368,382,000 after purchasing an additional 45,947 shares in the last quarter. Institutional investors own 93.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ROP. Oppenheimer lifted their target price 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. JPMorgan Chase & Co. lifted their target price on shares of Roper Technologies from $539.00 to $558.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Raymond James reiterated a “strong-buy” rating and issued a $655.00 target price (up previously from $620.00) on shares of Roper Technologies in a research note on Friday, January 31st. TD Cowen upgraded shares of Roper Technologies from a “hold” rating to a “buy” rating and lifted their target price for the stock from $535.00 to $615.00 in a research note on Tuesday, January 28th. Finally, Robert W. Baird set a $665.00 price objective on shares of Roper Technologies in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Roper Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $623.60.

Roper Technologies Price Performance

Shares of NYSE:ROP opened at $576.45 on Tuesday. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.35. Roper Technologies, Inc. has a 12 month low of $499.47 and a 12 month high of $595.17. The stock has a market cap of $61.90 billion, a P/E ratio of 40.20, a P/E/G ratio of 2.77 and a beta of 1.06. The company has a 50 day moving average of $553.41 and a 200 day moving average of $551.43.

Roper Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Friday, April 4th will be paid a $0.825 dividend. The ex-dividend date is Friday, April 4th. This represents a $3.30 dividend on an annualized basis and a yield of 0.57%. Roper Technologies’s dividend payout ratio is presently 23.01%.

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 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 directly owns 31,522 shares in the company, valued at approximately $18,540,925.18. The trade was a 8.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP John K. Stipancich sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $578.04, for a total transaction of $578,040.00. Following the completion of the sale, the vice president now owns 38,932 shares of the company’s stock, valued at approximately $22,504,253.28. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,101 shares of company stock valued at $4,712,045 in the last quarter. Corporate insiders own 0.87% 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.