Roper Technologies (NYSE:ROP) Price Target Cut to $562.00 by Analysts at Barclays

by · The Cerbat Gem

Roper Technologies (NYSE:ROP – Get Free Report) had its target price decreased by analysts at Barclays from $569.00 to $562.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “underweight” rating on the industrial products company’s stock. Barclays‘s price objective suggests a potential upside of 10.83% from the stock’s previous close.

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

Get Our Latest Stock Report on Roper Technologies

Roper Technologies Stock Performance

Shares of Roper Technologies stock opened at $507.10 on Wednesday. The company has a current ratio of 0.48, a quick ratio of 0.44 and a debt-to-equity ratio of 0.41. The company has a fifty day simple moving average of $545.06 and a 200-day simple moving average of $548.56. The stock has a market cap of $54.38 billion, a price-to-earnings ratio of 37.10, a PEG ratio of 2.84 and a beta of 1.04. Roper Technologies has a 12-month low of $504.53 and a 12-month high of $580.09.

Roper Technologies (NYSE:ROP – Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share (EPS) 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 company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the firm posted $4.32 earnings per share. Roper Technologies’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, equities analysts forecast that Roper Technologies will post 18.26 EPS for the current fiscal year.

Insider Transactions at Roper Technologies

In related news, Director Richard F. Wallman sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $550.00, for a total value of $550,000.00. Following the completion of the sale, the director now directly owns 32,955 shares in the company, valued at approximately $18,125,250. The trade was a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.87% of the company’s stock.

Institutional Trading of Roper Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Private Advisor Group LLC raised its holdings in shares of Roper Technologies by 5.3% in the 2nd quarter. Private Advisor Group LLC now owns 5,409 shares of the industrial products company’s stock worth $3,049,000 after purchasing an additional 270 shares during the period. Savant Capital LLC raised its holdings in Roper Technologies by 63.8% in the second quarter. Savant Capital LLC now owns 994 shares of the industrial products company’s stock valued at $560,000 after buying an additional 387 shares during the period. Prudential PLC lifted its position in Roper Technologies by 6.5% during the second quarter. Prudential PLC now owns 7,320 shares of the industrial products company’s stock valued at $4,126,000 after buying an additional 446 shares in the last quarter. Wedbush Securities Inc. grew its stake in Roper Technologies by 5.6% during the second quarter. Wedbush Securities Inc. now owns 1,872 shares of the industrial products company’s stock worth $1,055,000 after buying an additional 100 shares during the period. Finally, Choreo LLC increased its position in shares of Roper Technologies by 99.9% in the second quarter. Choreo LLC now owns 3,331 shares of the industrial products company’s stock worth $1,875,000 after acquiring an additional 1,665 shares in the last quarter. 93.31% of the stock is currently owned by institutional investors and hedge funds.

About Roper Technologies

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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.

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