Barclays Cuts Roper Technologies (NYSE:ROP) Price Target to $562.00

Roper Technologies (NYSE:ROP) had its target price decreased by equities research analysts at Barclays from $569.00 to $562.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “underweight” rating on the industrial products company’s stock. Barclays‘s target price indicates a potential upside of 10.13% from the company’s current price.

ROP has been the subject of a number of other reports. Truist Financial reissued a “buy” rating and issued a $665.00 price objective (up from $660.00) on shares of Roper Technologies in a report on Thursday, October 24th. Mizuho raised their price target on Roper Technologies from $530.00 to $565.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Royal Bank of Canada reduced their price objective on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Oppenheimer initiated coverage on shares of Roper Technologies in a research note on Monday, December 23rd. They set an “outperform” rating and a $630.00 target price on the stock. Finally, Robert W. Baird upped their price target on shares of Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $623.33.

Roper Technologies Price Performance

Shares of NYSE ROP opened at $510.30 on Wednesday. Roper Technologies has a 1-year low of $504.30 and a 1-year high of $580.09. The firm has a market capitalization of $54.72 billion, a PE ratio of 37.33, a P/E/G ratio of 2.84 and a beta of 1.04. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.48 and a quick ratio of 0.44. The business’s fifty day moving average price is $543.77 and its two-hundred day moving average price is $548.03.

Roper Technologies (NYSE:ROP) last issued its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share for the quarter, beating the consensus estimate of $4.53 by $0.09. Roper Technologies had a net margin of 21.78% and a return on equity of 10.73%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period last year, the firm posted $4.32 EPS. Roper Technologies’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, research analysts expect that Roper Technologies will post 18.26 EPS for the current year.

Insider Activity at Roper Technologies

In other news, Director Richard F. Wallman sold 1,000 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $550.00, for a total transaction of $550,000.00. Following the completion of the sale, the director now owns 32,955 shares in the company, valued at approximately $18,125,250. This represents a 2.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Roper Technologies

A number of hedge funds have recently modified their holdings of ROP. Fairscale Capital LLC acquired a new position in shares of Roper Technologies in the 2nd quarter valued at $28,000. Fortitude Family Office LLC acquired a new position in shares of Roper Technologies in the third quarter worth about $28,000. Valley Wealth Managers Inc. purchased a new position in shares of Roper Technologies in the second quarter worth approximately $31,000. Global Wealth Strategies & Associates acquired a new stake in shares of Roper Technologies during the third quarter valued at approximately $37,000. Finally, Kimelman & Baird LLC purchased a new stake in shares of Roper Technologies in the 2nd quarter valued at approximately $42,000. 93.31% of the stock is currently owned by institutional investors and hedge funds.

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.