Convergence Financial LLC Sells 54 Shares of Roper Technologies, Inc. (NYSE:ROP)

Convergence Financial LLC cut its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 7.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 667 shares of the industrial products company’s stock after selling 54 shares during the period. Convergence Financial LLC’s holdings in Roper Technologies were worth $347,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ROP. State Street Corp boosted its stake in Roper Technologies by 2.9% in the third quarter. State Street Corp now owns 4,730,427 shares of the industrial products company’s stock worth $2,632,199,000 after buying an additional 132,575 shares in the last quarter. Geode Capital Management LLC raised its stake in Roper Technologies by 2.1% in the third quarter. Geode Capital Management LLC now owns 2,447,026 shares of the industrial products company’s stock worth $1,357,162,000 after buying an additional 51,131 shares in the last quarter. Wellington Management Group LLP raised its holdings in Roper Technologies by 87.8% in the third 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 in the last quarter. JPMorgan Chase & Co. lifted 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 acquiring an additional 45,947 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Roper Technologies by 1.5% in 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 buying an additional 9,653 shares during the last quarter. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

Roper Technologies Trading Down 2.1 %

Shares of ROP stock opened at $575.15 on Thursday. 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 firm has a market cap of $61.67 billion, a PE ratio of 40.11, a price-to-earnings-growth ratio of 2.77 and a beta of 1.05. The company has a 50-day moving average of $543.90 and a two-hundred day moving average of $548.89. Roper Technologies, Inc. has a 1-year low of $499.47 and a 1-year high of $593.91.

Insider Activity at Roper Technologies

In other news, VP Brandon L. Cross sold 750 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were 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 owns 1,329 shares in the company, valued at approximately $767,936.07. This trade represents a 36.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jason Conley sold 3,000 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $588.19, for a total value of $1,764,570.00. Following the transaction, the chief financial officer now directly owns 31,522 shares in the company, valued at $18,540,925.18. This represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,101 shares of company stock worth $4,712,045. Company insiders own 0.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ROP shares. 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. Oppenheimer upped their price target on Roper Technologies from $630.00 to $640.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. TD Cowen upgraded shares of Roper Technologies from a “hold” rating to a “buy” rating and lifted their target price for the company from $535.00 to $615.00 in a research note on Tuesday, January 28th. Raymond James reiterated 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, JPMorgan Chase & Co. boosted their target price on Roper Technologies from $539.00 to $558.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Roper Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $623.60.

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.