Elevate Capital Advisors LLC Makes New Investment in Roper Technologies, Inc. (NYSE:ROP)

Elevate Capital Advisors LLC bought a new position in shares of Roper Technologies, Inc. (NYSE:ROP) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,892 shares of the industrial products company’s stock, valued at approximately $1,504,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ROP. Wellington Management Group LLP increased its stake in shares of Roper Technologies by 87.8% in the 3rd quarter. Wellington Management Group LLP now owns 738,582 shares of the industrial products company’s stock valued at $410,977,000 after buying an additional 345,268 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in Roper Technologies in the fourth quarter worth about $69,382,000. Loomis Sayles & Co. L P raised its holdings in Roper Technologies by 25.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 648,427 shares of the industrial products company’s stock worth $360,811,000 after purchasing an additional 132,913 shares during the last quarter. State Street Corp boosted its stake in shares of Roper Technologies by 2.9% in the 3rd quarter. State Street Corp now owns 4,730,427 shares of the industrial products company’s stock valued at $2,632,199,000 after purchasing an additional 132,575 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in shares of Roper Technologies by 37.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 427,943 shares of the industrial products company’s stock worth $238,125,000 after buying an additional 116,523 shares during the period. Institutional investors and hedge funds own 93.31% of the company’s stock.

Roper Technologies Stock Down 1.8 %

Roper Technologies stock opened at $572.76 on Monday. Roper Technologies, Inc. has a twelve month low of $499.47 and a twelve month high of $584.44. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.35. The company has a 50 day moving average of $537.48 and a 200-day moving average of $545.05. The stock has a market capitalization of $61.42 billion, a PE ratio of 31.85, a price-to-earnings-growth ratio of 2.78 and a beta of 1.05.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ROP. Raymond James restated a “strong-buy” rating and issued a $655.00 price objective (up from $620.00) on shares of Roper Technologies in a report on Friday, January 31st. TD Cowen upgraded 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 report on Tuesday, January 28th. Royal Bank of Canada dropped their price objective on Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Oppenheimer raised their target price on Roper Technologies from $630.00 to $640.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. upped their price target on Roper Technologies from $539.00 to $558.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Roper Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $622.30.

Insiders Place Their Bets

In related news, VP Brandon L. Cross sold 750 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $577.83, for a total transaction of $433,372.50. Following the completion of the transaction, the vice president now owns 1,329 shares in the company, valued at approximately $767,936.07. This represents a 36.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jason Conley sold 3,000 shares of Roper Technologies stock in a transaction 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,101 shares of company stock worth $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.