Promus Capital LLC Takes Position in Roper Technologies, Inc. (NYSE:ROP)

Promus Capital LLC bought a new stake in Roper Technologies, Inc. (NYSE:ROP) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,078 shares of the industrial products company’s stock, valued at approximately $560,000. Roper Technologies accounts for 0.5% of Promus Capital LLC’s investment portfolio, making the stock its 29th biggest holding.

Other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. grew its position 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 purchasing an additional 1,789 shares during the period. Citigroup Inc. grew its position in shares of Roper Technologies by 17.6% in the third 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 period. Douglas Lane & Associates LLC grew its position in shares of 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 valued at $57,005,000 after purchasing an additional 17,466 shares during the period. Synovus Financial Corp grew its position in shares of Roper Technologies by 19.6% in the third quarter. Synovus Financial Corp now owns 5,867 shares of the industrial products company’s stock valued at $3,265,000 after purchasing an additional 961 shares during the period. Finally, Harvest Fund Management Co. Ltd grew its position in shares of Roper Technologies by 52.5% in the third quarter. Harvest Fund Management Co. Ltd now owns 4,938 shares of the industrial products company’s stock valued at $2,747,000 after purchasing an additional 1,699 shares during the period. Institutional investors and hedge funds own 93.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ROP. 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 note on Friday, January 31st. Oppenheimer raised their price target 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. Barclays decreased their price target on shares of Roper Technologies from $569.00 to $562.00 and set an “underweight” rating on the stock in a research note 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 stock from $535.00 to $615.00 in a research note on Tuesday, January 28th. Finally, Raymond James reissued a “strong-buy” rating and issued a $655.00 price target (up from $620.00) on shares of Roper Technologies in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $623.60.

Insiders Place Their Bets

In other news, CFO Jason Conley sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $588.19, for a total value of $1,764,570.00. Following the sale, the chief financial officer now directly owns 31,522 shares of the company’s stock, valued at approximately $18,540,925.18. The trade was a 8.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard F. Wallman sold 351 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $575.25, for a total transaction of $201,912.75. Following the completion of the sale, the director now directly 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 disclosure for this sale can be found here. Insiders have sold 8,101 shares of company stock valued at $4,712,045 over the last ninety days. Company insiders own 0.87% of the company’s stock.

Roper Technologies Price Performance

Shares of ROP stock opened at $593.81 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’s 50-day moving average is $549.76 and its two-hundred day moving average is $550.66. Roper Technologies, Inc. has a 12 month low of $499.47 and a 12 month high of $595.17. The company has a market capitalization of $63.77 billion, a PE ratio of 41.41, a price-to-earnings-growth ratio of 2.77 and a beta of 1.05.

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.