Convergence Financial LLC Lowers Stake in Roper Technologies, Inc. (NYSE:ROP)

Convergence Financial LLC decreased its holdings in shares of Roper Technologies, Inc. (NYSE:ROP) by 7.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 667 shares of the industrial products company’s stock after selling 54 shares during the period. Convergence Financial LLC’s holdings in Roper Technologies were worth $347,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of ROP. Fortitude Family Office LLC purchased a new position in shares of Roper Technologies during the 3rd quarter valued at approximately $28,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in Roper Technologies by 7,500.0% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 76 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 75 shares during the period. Golden State Wealth Management LLC acquired a new stake in Roper Technologies in the 4th quarter valued at approximately $45,000. Ameliora Wealth Management Ltd. acquired a new stake in Roper Technologies in the fourth quarter worth about $49,000. Finally, Global Wealth Strategies & Associates raised its holdings in Roper Technologies by 49.3% during the fourth quarter. Global Wealth Strategies & Associates now owns 100 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 33 shares in the last quarter. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Roper Technologies Stock Down 2.1 %

Roper Technologies stock opened at $575.15 on Thursday. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.35. The company has a fifty day simple moving average of $543.90 and a 200 day simple moving average of $548.89. The company has a market cap of $61.67 billion, a P/E ratio of 40.11, a price-to-earnings-growth ratio of 2.77 and a beta of 1.05. Roper Technologies, Inc. has a 1-year low of $499.47 and a 1-year high of $593.91.

Insiders Place Their Bets

In related news, VP John K. Stipancich sold 1,000 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $578.04, for a total value of $578,040.00. Following the transaction, the vice president now directly owns 38,932 shares in the company, valued at approximately $22,504,253.28. This represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Brandon L. Cross sold 750 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $577.83, for a total value of $433,372.50. Following the sale, the vice president now directly owns 1,329 shares in the company, valued at approximately $767,936.07. This trade represents a 36.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,101 shares of company stock valued at $4,712,045 over the last 90 days. 0.87% of the stock is currently owned by insiders.

Analyst Ratings Changes

ROP has been the subject of a number of research reports. Barclays reduced 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. TD Cowen raised shares of Roper Technologies from a “hold” rating to a “buy” rating and boosted their price objective for the company from $535.00 to $615.00 in a research report on Tuesday, January 28th. Oppenheimer raised their price target on Roper Technologies from $630.00 to $640.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Truist Financial reaffirmed a “buy” rating and issued a $675.00 price objective (up previously from $665.00) on shares of Roper Technologies in a research note on Friday, January 31st. Finally, Raymond James reiterated a “strong-buy” rating and set a $655.00 price target (up previously from $620.00) on shares of Roper Technologies in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $623.60.

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.