Kentucky Retirement Systems Insurance Trust Fund Raises Position in Roper Technologies, Inc. (NYSE:ROP)

Kentucky Retirement Systems Insurance Trust Fund raised its position in shares of Roper Technologies, Inc. (NYSE:ROP) by 10.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,517 shares of the industrial products company’s stock after purchasing an additional 343 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Roper Technologies were worth $1,828,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of Roper Technologies by 87.8% during the third 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 last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Roper Technologies in the fourth quarter worth about $69,382,000. Loomis Sayles & Co. L P grew its stake in shares of Roper Technologies by 25.8% in the third 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 grew its stake in shares of Roper Technologies by 2.9% in the third quarter. State Street Corp now owns 4,730,427 shares of the industrial products company’s stock worth $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 stake in shares of Roper Technologies by 37.4% in the third 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 purchasing an additional 116,523 shares during the last quarter. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Roper Technologies Price Performance

Shares of NYSE ROP opened at $572.53 on Wednesday. Roper Technologies, Inc. has a twelve month low of $499.47 and a twelve month high of $584.43. The firm has a market cap of $61.39 billion, a P/E ratio of 31.31, a PEG ratio of 2.74 and a beta of 1.05. The company has a 50 day moving average of $539.42 and a 200 day moving average of $546.62. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.35.

Insider Buying and Selling

In other Roper Technologies news, VP John K. Stipancich sold 1,000 shares of Roper Technologies stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $578.04, for a total value of $578,040.00. Following the completion of the sale, the vice president now owns 38,932 shares of the company’s stock, valued at approximately $22,504,253.28. The trade was a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jason Conley sold 3,000 shares of Roper Technologies stock in a transaction that occurred on Friday, January 31st. The stock was 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 directly owns 31,522 shares of the company’s stock, valued at approximately $18,221,292.10. This trade represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,101 shares of company stock worth $2,947,475 in the last three months. Insiders own 0.87% of the company’s stock.

Analyst Ratings Changes

ROP has been the topic of several recent analyst reports. Royal Bank of Canada cut their target price on Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. TD Cowen upgraded shares of Roper Technologies from a “hold” rating to a “buy” rating and raised their price objective for the stock from $535.00 to $615.00 in a report on Tuesday, January 28th. Robert W. Baird raised their price objective on shares of Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Truist Financial restated a “buy” rating and issued a $675.00 price objective (up from $665.00) on shares of Roper Technologies in a report on Friday, January 31st. Finally, Barclays lowered their target price on shares of Roper Technologies from $569.00 to $562.00 and set an “underweight” rating for the company in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $622.30.

Roper Technologies Company 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.