SVB Wealth LLC Invests $551,000 in Roper Technologies, Inc. (NYSE:ROP)

SVB Wealth LLC purchased a new position in Roper Technologies, Inc. (NYSE:ROP) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,059 shares of the industrial products company’s stock, valued at approximately $551,000.

A number of other hedge funds have also recently made changes to their positions in the stock. State Street Corp boosted its position in shares of 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 worth $2,632,199,000 after purchasing an additional 132,575 shares in the last quarter. Geode Capital Management LLC grew its position in Roper Technologies by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,447,026 shares of the industrial products company’s stock valued at $1,357,162,000 after purchasing an additional 51,131 shares during the last quarter. Wellington Management Group LLP grew its position in Roper Technologies by 87.8% during the 3rd quarter. Wellington Management Group LLP now owns 738,582 shares of the industrial products company’s stock valued at $410,977,000 after purchasing an additional 345,268 shares during the last quarter. JPMorgan Chase & Co. grew its position in Roper Technologies by 7.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 662,033 shares of the industrial products company’s stock valued at $368,382,000 after purchasing an additional 45,947 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Roper Technologies by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 648,903 shares of the industrial products company’s stock valued at $361,076,000 after purchasing an additional 9,653 shares during the last quarter. 93.31% of the stock is owned by institutional investors.

Insider Activity at Roper Technologies

In other news, CFO Jason Conley sold 3,000 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $578.05, for a total transaction of $1,734,150.00. Following the completion of the sale, the chief financial officer now owns 31,522 shares of the company’s stock, valued at $18,221,292.10. The trade was a 8.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard F. Wallman sold 351 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $575.25, for a total value of $201,912.75. Following the completion of the sale, the director now owns 20,187 shares of the company’s stock, valued at $11,612,571.75. This trade represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,101 shares of company stock worth $4,712,045. 0.87% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Robert W. Baird set a $665.00 price objective on shares of Roper Technologies in a research report on Friday, January 31st. TD Cowen raised 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 report on Tuesday, January 28th. Barclays reduced their target price on Roper Technologies from $569.00 to $562.00 and set an “underweight” rating for the company in a report on Wednesday, January 8th. Truist Financial reissued a “buy” rating and issued a $675.00 target price (up previously from $665.00) on shares of Roper Technologies in a report on Friday, January 31st. Finally, Raymond James reissued a “strong-buy” rating and issued a $655.00 target price (up previously from $620.00) on shares of Roper Technologies in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Roper Technologies currently has an average rating of “Moderate Buy” and an average target price of $623.60.

Roper Technologies Price Performance

NYSE ROP opened at $585.81 on Tuesday. The company has a 50-day moving average price of $547.32 and a 200-day moving average price of $550.10. Roper Technologies, Inc. has a 52 week low of $499.47 and a 52 week high of $593.91. 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 firm has a market capitalization of $62.91 billion, a P/E ratio of 40.85, a PEG ratio of 2.77 and a beta of 1.05.

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.