Thoroughbred Financial Services LLC Grows Holdings in Roper Technologies, Inc. (NYSE:ROP)

Thoroughbred Financial Services LLC grew its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 130.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,087 shares of the industrial products company’s stock after acquiring an additional 615 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Roper Technologies were worth $613,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ROP. Vanguard Group Inc. increased its position in Roper Technologies by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 10,072,028 shares of the industrial products company’s stock worth $5,648,796,000 after purchasing an additional 125,387 shares in the last quarter. Principal Financial Group Inc. increased its position in Roper Technologies by 4.0% during the 2nd quarter. Principal Financial Group Inc. now owns 2,683,909 shares of the industrial products company’s stock worth $1,512,813,000 after purchasing an additional 102,199 shares in the last quarter. Bank of New York Mellon Corp increased its position in Roper Technologies by 5.5% during the 1st quarter. Bank of New York Mellon Corp now owns 1,314,972 shares of the industrial products company’s stock worth $737,489,000 after purchasing an additional 68,957 shares in the last quarter. Corient Private Wealth LLC increased its position in Roper Technologies by 32.8% during the 4th quarter. Corient Private Wealth LLC now owns 858,949 shares of the industrial products company’s stock worth $468,273,000 after purchasing an additional 211,967 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Roper Technologies by 4.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 805,757 shares of the industrial products company’s stock worth $451,901,000 after purchasing an additional 33,780 shares in the last quarter. Institutional investors and hedge funds own 93.31% of the company’s stock.

Roper Technologies Price Performance

Shares of NYSE ROP opened at $556.56 on Tuesday. Roper Technologies, Inc. has a 1-year low of $474.46 and a 1-year high of $579.10. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.53 and a quick ratio of 0.48. The business’s fifty day moving average price is $547.86 and its two-hundred day moving average price is $545.05. The firm has a market capitalization of $59.58 billion, a PE ratio of 40.39, a P/E/G ratio of 2.89 and a beta of 1.02.

Roper Technologies (NYSE:ROP) last issued its earnings results on Wednesday, July 24th. The industrial products company reported $4.48 earnings per share for the quarter, topping the consensus estimate of $4.46 by $0.02. Roper Technologies had a return on equity of 10.77% and a net margin of 22.14%. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. On average, research analysts expect that Roper Technologies, Inc. will post 18.16 EPS for the current year.

Insider Activity

In other news, CFO Jason Conley sold 3,500 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $563.02, for a total transaction of $1,970,570.00. Following the transaction, the chief financial officer now directly owns 33,685 shares of the company’s stock, valued at $18,965,328.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Jason Conley sold 3,500 shares of Roper Technologies stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $563.02, for a total transaction of $1,970,570.00. Following the transaction, the chief financial officer now directly owns 33,685 shares of the company’s stock, valued at $18,965,328.70. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robert D. Johnson sold 140 shares of Roper Technologies stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $550.34, for a total value of $77,047.60. Following the transaction, the director now directly owns 5,909 shares in the company, valued at $3,251,959.06. The disclosure for this sale can be found here. Corporate insiders own 0.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ROP. Wolfe Research downgraded shares of Roper Technologies from an “outperform” rating to a “peer perform” rating in a research report on Thursday, June 13th. Jefferies Financial Group upped their price target on Roper Technologies from $625.00 to $635.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Baird R W upgraded Roper Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 25th. Truist Financial restated a “buy” rating and issued a $660.00 price target on shares of Roper Technologies in a report on Tuesday, August 27th. Finally, Barclays upped their price target on Roper Technologies from $611.00 to $625.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Roper Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $616.00.

Roper Technologies 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.