Royal Bank of Canada Lowers Roper Technologies (NYSE:ROP) Price Target to $680.00

Roper Technologies (NYSE:ROP) had its target price lowered by stock analysts at Royal Bank of Canada from $696.00 to $680.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 32.95% from the stock’s current price.

ROP has been the topic of several other reports. Raymond James boosted their target price on Roper Technologies from $572.00 to $620.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 2nd. Oppenheimer upped their price objective on shares of Roper Technologies from $580.00 to $650.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Wells Fargo & Company lifted their target price on shares of Roper Technologies from $560.00 to $615.00 and gave the stock an “overweight” rating in a research note on Monday, January 22nd. TD Cowen lowered shares of Roper Technologies from an “outperform” rating to a “market perform” rating and set a $535.00 price target on the stock. in a research note on Thursday, January 4th. Finally, Barclays lifted their price objective on shares of Roper Technologies from $596.00 to $600.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Roper Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $579.83.

Roper Technologies Stock Performance

Shares of Roper Technologies stock opened at $511.46 on Monday. Roper Technologies has a one year low of $441.06 and a one year high of $565.00. The company has a market capitalization of $54.74 billion, a PE ratio of 37.12, a P/E/G ratio of 2.77 and a beta of 0.99. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.45 and a current ratio of 0.49. The company has a 50-day simple moving average of $543.76 and a two-hundred day simple moving average of $534.01.

Roper Technologies (NYSE:ROP) last posted its earnings results on Friday, April 26th. The industrial products company reported $4.41 EPS for the quarter, beating analysts’ consensus estimates of $4.34 by $0.07. Roper Technologies had a net margin of 23.21% and a return on equity of 10.75%. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the prior year, the company posted $3.90 earnings per share. Roper Technologies’s revenue for the quarter was up 14.4% compared to the same quarter last year. Research analysts expect that Roper Technologies will post 18.08 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Christopher Wright sold 200 shares of Roper Technologies stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $549.71, for a total transaction of $109,942.00. Following the completion of the transaction, the director now directly owns 35,547 shares in the company, valued at $19,540,541.37. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.94% of the stock is owned by insiders.

Institutional Trading of Roper Technologies

A number of hedge funds have recently added to or reduced their stakes in ROP. Schwartz Investment Counsel Inc. grew its holdings in Roper Technologies by 3.2% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 112,700 shares of the industrial products company’s stock valued at $61,441,000 after purchasing an additional 3,500 shares during the period. Sequoia Financial Advisors LLC increased its holdings in Roper Technologies by 229.5% in the 4th quarter. Sequoia Financial Advisors LLC now owns 5,255 shares of the industrial products company’s stock worth $2,865,000 after acquiring an additional 3,660 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Roper Technologies by 42.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 14,648 shares of the industrial products company’s stock worth $7,986,000 after acquiring an additional 4,334 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Roper Technologies by 4.0% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 305,613 shares of the industrial products company’s stock valued at $166,611,000 after purchasing an additional 11,744 shares in the last quarter. Finally, Crestwood Advisors Group LLC grew its position in shares of Roper Technologies by 5.3% in the fourth quarter. Crestwood Advisors Group LLC now owns 79,355 shares of the industrial products company’s stock valued at $43,262,000 after purchasing an additional 3,959 shares during the period. 93.31% of the stock is owned by hedge funds and other institutional investors.

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.