Raymond James Reaffirms “Strong-Buy” Rating for Roper Technologies (NYSE:ROP)

Roper Technologies (NYSE:ROP)‘s stock had its “strong-buy” rating reaffirmed by analysts at Raymond James in a research note issued on Friday,Benzinga reports. They presently have a $655.00 target price on the industrial products company’s stock, up from their previous target price of $620.00. Raymond James’ target price would indicate a potential upside of 13.13% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on ROP. TD Cowen raised shares of Roper Technologies from a “hold” rating to a “buy” rating and boosted their target price for the company from $535.00 to $615.00 in a report on Tuesday. Royal Bank of Canada decreased their price target on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Barclays decreased their price target on shares of Roper Technologies from $569.00 to $562.00 and set an “underweight” rating on the stock in a report on Wednesday, January 8th. Oppenheimer assumed coverage on Roper Technologies in a research note on Monday, December 23rd. They issued an “outperform” rating and a $630.00 target price on the stock. Finally, Mizuho increased their target price on Roper Technologies from $530.00 to $565.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $621.30.

Roper Technologies Stock Performance

ROP stock traded up $8.40 during midday trading on Friday, reaching $579.00. 222,635 shares of the company’s stock traded hands, compared to its average volume of 658,960. The company has a 50-day moving average price of $535.62 and a two-hundred day moving average price of $544.87. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.44 and a current ratio of 0.48. Roper Technologies has a 52 week low of $499.47 and a 52 week high of $584.31. The firm has a market capitalization of $62.09 billion, a PE ratio of 42.36, a price-to-earnings-growth ratio of 2.60 and a beta of 1.04.

Institutional Trading of Roper Technologies

Institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its holdings in shares of Roper Technologies by 5.4% during the third quarter. PNC Financial Services Group Inc. now owns 34,652 shares of the industrial products company’s stock worth $19,282,000 after purchasing an additional 1,789 shares during the period. Citigroup Inc. raised its stake in Roper Technologies by 17.6% in the third quarter. Citigroup Inc. now owns 190,587 shares of the industrial products company’s stock worth $106,050,000 after buying an additional 28,555 shares in the last quarter. Douglas Lane & Associates LLC raised its stake in Roper Technologies by 18.9% in the fourth quarter. Douglas Lane & Associates LLC now owns 109,656 shares of the industrial products company’s stock worth $57,005,000 after buying an additional 17,466 shares in the last quarter. Synovus Financial Corp raised its stake in Roper Technologies by 19.6% in the third quarter. Synovus Financial Corp now owns 5,867 shares of the industrial products company’s stock worth $3,265,000 after buying an additional 961 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Roper Technologies by 8.5% during the fourth quarter. Nordea Investment Management AB now owns 538,678 shares of the industrial products company’s stock valued at $280,113,000 after purchasing an additional 42,016 shares in the last quarter. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

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.