Retirement Systems of Alabama Sells 155 Shares of Roper Technologies, Inc. (NYSE:ROP)

Retirement Systems of Alabama lowered its position in shares of Roper Technologies, Inc. (NYSE:ROP) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,216 shares of the industrial products company’s stock after selling 155 shares during the quarter. Retirement Systems of Alabama’s holdings in Roper Technologies were worth $12,069,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its stake in shares of Roper Technologies by 5.4% in the third quarter. PNC Financial Services Group Inc. now owns 34,652 shares of the industrial products company’s stock valued at $19,282,000 after acquiring an additional 1,789 shares during the last quarter. Citigroup Inc. raised its position in Roper Technologies by 17.6% in the 3rd quarter. Citigroup Inc. now owns 190,587 shares of the industrial products company’s stock valued at $106,050,000 after purchasing an additional 28,555 shares during the last quarter. Douglas Lane & Associates LLC boosted its stake in Roper Technologies by 18.9% in the fourth quarter. Douglas Lane & Associates LLC now owns 109,656 shares of the industrial products company’s stock worth $57,005,000 after purchasing an additional 17,466 shares in the last quarter. Synovus Financial Corp grew its holdings in shares of Roper Technologies by 19.6% during the third quarter. Synovus Financial Corp now owns 5,867 shares of the industrial products company’s stock worth $3,265,000 after purchasing an additional 961 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Roper Technologies by 8.5% in the fourth quarter. Nordea Investment Management AB now owns 538,678 shares of the industrial products company’s stock valued at $280,113,000 after buying an additional 42,016 shares in the last quarter. 93.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ROP. Barclays decreased their price objective on shares of Roper Technologies from $569.00 to $562.00 and set an “underweight” rating on the stock in a report on Wednesday, January 8th. TD Cowen raised shares of Roper Technologies from a “hold” rating to a “buy” rating and raised their price target for the company from $535.00 to $615.00 in a report on Tuesday, January 28th. Raymond James reiterated a “strong-buy” rating and issued a $655.00 price objective (up from $620.00) on shares of Roper Technologies in a research report on Friday, January 31st. 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. Finally, Truist Financial reiterated a “buy” rating and issued a $675.00 price target (up previously from $665.00) on shares of Roper Technologies in a 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 company. Based on data from MarketBeat, Roper Technologies currently has an average rating of “Moderate Buy” and an average target price of $622.30.

Roper Technologies Price Performance

Roper Technologies stock opened at $572.76 on Friday. The firm has a market capitalization of $61.42 billion, a P/E ratio of 39.94, a PEG ratio of 2.76 and a beta of 1.05. The business has a 50-day moving average of $537.35 and a 200-day moving average of $545.28. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.35. Roper Technologies, Inc. has a 1 year low of $499.47 and a 1 year high of $584.44.

Insider Buying and Selling at Roper Technologies

In other news, CFO Jason Conley sold 3,000 shares of Roper Technologies stock in a transaction dated 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 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard F. Wallman sold 351 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $575.25, for a total value of $201,912.75. Following the sale, the director now directly owns 20,187 shares of the company’s stock, valued at approximately $11,612,571.75. The trade was a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,101 shares of company stock valued at $2,947,475. Corporate 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.