Stifel Nicolaus Initiates Coverage on Roper Technologies (NYSE:ROP)

Stifel Nicolaus began coverage on shares of Roper Technologies (NYSE:ROP) in a research note issued on Thursday, MarketBeat.com reports. The brokerage set a “buy” rating and a $685.00 price target on the industrial products company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 17.57% from the stock’s previous close.

ROP has been the topic of several other reports. Robert W. Baird set a $665.00 target price on Roper Technologies in a research report on Friday, January 31st. JPMorgan Chase & Co. boosted their target price on shares of Roper Technologies from $539.00 to $558.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. 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 research report on Wednesday, January 8th. Raymond James reissued a “strong-buy” rating and set a $655.00 price objective (up previously from $620.00) on shares of Roper Technologies in a research report on Friday, January 31st. Finally, Oppenheimer raised their target price on Roper Technologies from $630.00 to $640.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Roper Technologies has an average rating of “Moderate Buy” and an average target price of $629.18.

Roper Technologies Price Performance

NYSE ROP opened at $582.64 on Thursday. The stock has a market capitalization of $62.57 billion, a price-to-earnings ratio of 40.63, a PEG ratio of 2.77 and a beta of 1.06. Roper Technologies has a 1-year low of $499.47 and a 1-year high of $595.17. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.40 and a quick ratio of 0.37. The business’s fifty day moving average price is $570.85 and its 200-day moving average price is $553.70.

Insider Activity

In related news, CFO Jason Conley sold 3,000 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $578.05, for a total transaction of $1,734,150.00. Following the completion of the transaction, the chief financial officer now directly owns 31,522 shares of the company’s stock, valued at approximately $18,221,292.10. This represents a 8.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brandon L. Cross sold 750 shares of Roper Technologies stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $577.83, for a total value of $433,372.50. Following the completion of the sale, the vice president now directly owns 1,329 shares in the company, valued at approximately $767,936.07. The trade was a 36.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,101 shares of company stock worth $4,712,045 over the last quarter. Insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Roper Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Roper Technologies by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 10,575,103 shares of the industrial products company’s stock valued at $5,497,467,000 after acquiring an additional 72,503 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Roper Technologies by 42.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,151,502 shares of the industrial products company’s stock valued at $2,678,009,000 after purchasing an additional 1,529,716 shares during the last quarter. State Street Corp boosted its holdings 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 during the period. Geode Capital Management LLC increased its position in shares of Roper Technologies by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 2,476,210 shares of the industrial products company’s stock valued at $1,284,242,000 after purchasing an additional 29,184 shares during the last quarter. Finally, Norges Bank bought a new stake in Roper Technologies in the fourth quarter worth $914,052,000. 93.31% of the stock is 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.