Suncoast Equity Management Increases Stake in Roper Technologies, Inc. (NYSE:ROP)

Suncoast Equity Management increased its holdings in Roper Technologies, Inc. (NYSE:ROP) by 11.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,540 shares of the industrial products company’s stock after purchasing an additional 154 shares during the quarter. Suncoast Equity Management’s holdings in Roper Technologies were worth $801,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ROP. Tandem Investment Advisors Inc. raised its position in Roper Technologies by 3.2% during the 4th quarter. Tandem Investment Advisors Inc. now owns 65,535 shares of the industrial products company’s stock valued at $34,069,000 after purchasing an additional 2,040 shares during the last quarter. Forte Capital LLC ADV increased its stake in shares of Roper Technologies by 4.6% during the fourth quarter. Forte Capital LLC ADV now owns 609 shares of the industrial products company’s stock valued at $317,000 after purchasing an additional 27 shares in the last quarter. ING Groep NV boosted its holdings in Roper Technologies by 74.6% in the fourth quarter. ING Groep NV now owns 80,015 shares of the industrial products company’s stock worth $41,596,000 after acquiring an additional 34,194 shares in the last quarter. Flossbach Von Storch SE boosted its stake in Roper Technologies by 6.1% in the 4th quarter. Flossbach Von Storch SE now owns 270,705 shares of the industrial products company’s stock worth $140,726,000 after purchasing an additional 15,601 shares in the last quarter. Finally, Dash Acquisitions Inc. grew its holdings in shares of Roper Technologies by 2.2% during the fourth quarter. Dash Acquisitions Inc. now owns 9,994 shares of the industrial products company’s stock valued at $5,493,000 after buying an additional 218 shares during the last quarter. 93.31% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Richard F. Wallman sold 351 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $575.25, for a total transaction of $201,912.75. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP John K. Stipancich sold 1,000 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $578.04, for a total transaction of $578,040.00. Following the completion of the sale, the vice president now owns 38,932 shares in the company, valued at $22,504,253.28. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,101 shares of company stock valued at $2,947,475. 0.87% of the stock is currently owned by insiders.

Roper Technologies Trading Up 0.8 %

Shares of Roper Technologies stock opened at $581.42 on Friday. Roper Technologies, Inc. has a 1-year low of $499.47 and a 1-year high of $584.43. 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 stock’s 50 day simple moving average is $540.62 and its 200-day simple moving average is $547.08. The stock has a market cap of $62.35 billion, a P/E ratio of 31.50, a P/E/G ratio of 2.75 and a beta of 1.05.

Analyst Upgrades and Downgrades

ROP has been the topic of a number of recent analyst reports. Truist Financial reaffirmed a “buy” rating and set a $675.00 price target (up previously from $665.00) on shares of Roper Technologies in a report on Friday, January 31st. JPMorgan Chase & Co. upped their target price on shares of Roper Technologies from $539.00 to $558.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Oppenheimer lifted their target price on Roper Technologies from $630.00 to $640.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Raymond James reaffirmed a “strong-buy” rating and issued a $655.00 target price (up from $620.00) on shares of Roper Technologies in a report on Friday, January 31st. Finally, Royal Bank of Canada lowered their price target on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $622.30.

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.