Bridges Investment Management Inc. Sells 61 Shares of Roper Technologies, Inc. (NYSE:ROP)

Bridges Investment Management Inc. reduced its stake in Roper Technologies, Inc. (NYSE:ROP) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,463 shares of the industrial products company’s stock after selling 61 shares during the period. Bridges Investment Management Inc.’s holdings in Roper Technologies were worth $2,840,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ROP. State Street Corp grew 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 purchasing an additional 132,575 shares in the last quarter. Geode Capital Management LLC lifted its holdings 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 worth $1,357,162,000 after buying an additional 51,131 shares during the period. Wellington Management Group LLP grew its position in shares of 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 buying an additional 345,268 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Roper Technologies by 7.5% during the third quarter. JPMorgan Chase & Co. now owns 662,033 shares of the industrial products company’s stock valued at $368,382,000 after buying an additional 45,947 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Roper Technologies by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 648,903 shares of the industrial products company’s stock valued at $361,076,000 after acquiring an additional 9,653 shares in the last quarter. 93.31% of the stock is owned by hedge funds and other institutional investors.

Roper Technologies Stock Up 2.1 %

Shares of ROP stock opened at $584.50 on Friday. The stock’s fifty day moving average price is $546.10 and its 200 day moving average price is $549.67. Roper Technologies, Inc. has a 1-year low of $499.47 and a 1-year high of $593.91. The company has a market cap of $62.68 billion, a price-to-earnings ratio of 40.76, a price-to-earnings-growth ratio of 2.77 and a beta of 1.05. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.40 and a quick ratio of 0.37.

Analysts Set New Price Targets

Several research analysts have issued reports on ROP shares. TD Cowen upgraded shares of Roper Technologies from a “hold” rating to a “buy” rating and increased their target price for the stock from $535.00 to $615.00 in a report on Tuesday, January 28th. Robert W. Baird set a $665.00 price objective on shares of Roper Technologies in a report on Friday, January 31st. Oppenheimer boosted their price objective on shares of Roper Technologies from $630.00 to $640.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Raymond James reaffirmed a “strong-buy” rating and set a $655.00 target price (up previously from $620.00) on shares of Roper Technologies in a research report on Friday, January 31st. Finally, Truist Financial reissued a “buy” rating and issued a $675.00 price target (up from $665.00) on shares of Roper Technologies in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $623.60.

Insider Transactions at Roper Technologies

In related news, VP Brandon L. Cross sold 750 shares of Roper Technologies stock in a transaction that occurred 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 directly owns 1,329 shares in the company, valued at $767,936.07. This trade represents a 36.08 % decrease in their position. The transaction 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 company’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 31,522 shares in the company, valued at $18,221,292.10. The trade was a 8.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,101 shares of company stock worth $4,712,045. Insiders own 0.87% of the company’s stock.

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.