Parallel Advisors LLC Grows Stock Position in Roper Technologies, Inc. (NYSE:ROP)

Parallel Advisors LLC raised its holdings in Roper Technologies, Inc. (NYSE:ROP) by 1.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,031 shares of the industrial products company’s stock after buying an additional 195 shares during the quarter. Parallel Advisors LLC’s holdings in Roper Technologies were worth $9,036,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. New Covenant Trust Company N.A. purchased a new stake in Roper Technologies in the first quarter valued at approximately $25,000. Rise Advisors LLC acquired a new position in shares of Roper Technologies in the 1st quarter valued at $27,000. OFI Invest Asset Management purchased a new stake in shares of Roper Technologies during the 1st quarter valued at $29,000. Versant Capital Management Inc increased its holdings in shares of Roper Technologies by 58.8% during the 2nd quarter. Versant Capital Management Inc now owns 54 shares of the industrial products company’s stock worth $30,000 after buying an additional 20 shares during the last quarter. Finally, Valley Wealth Managers Inc. purchased a new position in shares of Roper Technologies in the 2nd quarter worth $31,000. Institutional investors and hedge funds own 93.31% of the company’s stock.

Roper Technologies Price Performance

ROP opened at $551.84 on Friday. Roper Technologies, Inc. has a twelve month low of $474.46 and a twelve month high of $579.10. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.38. The firm has a market cap of $59.16 billion, a price-to-earnings ratio of 40.05, a PEG ratio of 2.88 and a beta of 1.02. The company has a fifty day simple moving average of $547.86 and a 200 day simple moving average of $544.97.

Roper Technologies (NYSE:ROP) last announced its earnings results on Wednesday, July 24th. The industrial products company reported $4.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.46 by $0.02. Roper Technologies had a return on equity of 10.77% and a net margin of 22.14%. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. Equities research analysts expect that Roper Technologies, Inc. will post 18.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ROP shares. Truist Financial restated a “buy” rating and set a $660.00 price target on shares of Roper Technologies in a research note on Tuesday, August 27th. Robert W. Baird raised shares of Roper Technologies from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $617.00 to $635.00 in a research report on Thursday, July 25th. Baird R W raised shares of Roper Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 25th. Royal Bank of Canada boosted their price objective on shares of Roper Technologies from $674.00 to $675.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Finally, Barclays raised their target price on shares of Roper Technologies from $611.00 to $625.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $616.00.

Insiders Place Their Bets

In other news, CFO Jason Conley sold 3,500 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $563.02, for a total transaction of $1,970,570.00. Following the completion of the transaction, the chief financial officer now directly owns 33,685 shares in the company, valued at approximately $18,965,328.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Jason Conley sold 3,500 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $563.02, for a total value of $1,970,570.00. Following the sale, the chief financial officer now owns 33,685 shares in the company, valued at approximately $18,965,328.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert D. Johnson sold 140 shares of Roper Technologies stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $550.34, for a total value of $77,047.60. Following the completion of the transaction, the director now owns 5,909 shares of the company’s stock, valued at $3,251,959.06. The disclosure for this sale can be found here. 0.87% of the stock is owned by company insiders.

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.