Ieq Capital LLC Reduces Holdings in Roper Technologies, Inc. (NYSE:ROP)

Ieq Capital LLC trimmed its stake in Roper Technologies, Inc. (NYSE:ROP) by 23.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 7,610 shares of the industrial products company’s stock after selling 2,271 shares during the period. Ieq Capital LLC’s holdings in Roper Technologies were worth $3,956,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. State Street Corp grew 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 valued at $2,632,199,000 after buying an additional 132,575 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Roper Technologies by 2.1% in 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 buying 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 worth $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 worth $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 worth $361,076,000 after purchasing an additional 9,653 shares during the last quarter. 93.31% of the stock is owned by hedge funds and other institutional investors.

Roper Technologies Stock Down 1.3 %

ROP stock opened at $574.05 on Friday. Roper Technologies, Inc. has a one year low of $499.47 and a one year high of $584.43. The stock has a market capitalization of $61.56 billion, a PE ratio of 40.03, a price-to-earnings-growth ratio of 2.75 and a beta of 1.05. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.37 and a current ratio of 0.40. The company has a fifty day moving average of $541.23 and a 200-day moving average of $547.47.

Insider Activity at Roper Technologies

In related news, Director Richard F. Wallman sold 351 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were 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 in the company, valued at $11,612,571.75. This trade represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jason Conley sold 3,000 shares of the firm’s stock in a transaction dated 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. This trade represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,101 shares of company stock worth $2,947,475 over the last 90 days. Company insiders own 0.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Roper Technologies from $539.00 to $558.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Truist Financial reissued a “buy” rating and set a $675.00 price objective (up from $665.00) on shares of Roper Technologies in a research report on Friday, January 31st. TD Cowen raised shares of Roper Technologies from a “hold” rating to a “buy” rating and raised their price objective for the stock from $535.00 to $615.00 in a research report on Tuesday, January 28th. Raymond James reissued a “strong-buy” rating and set a $655.00 price objective (up from $620.00) on shares of Roper Technologies in a research report on Friday, January 31st. Finally, Oppenheimer raised their price objective on shares of Roper Technologies from $630.00 to $640.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $622.30.

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.