Weitz Investment Management Inc. purchased a new position in shares of Roper Technologies, Inc. (NYSE:ROP) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 61,000 shares of the industrial products company’s stock, valued at approximately $28,682,000. Roper Technologies comprises about 1.2% of Weitz Investment Management Inc.’s investment portfolio, making the stock its 29th largest position.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Mercer Global Advisors Inc. ADV grew its stake in Roper Technologies by 33.1% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 4,560 shares of the industrial products company’s stock valued at $2,144,000 after acquiring an additional 1,135 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Roper Technologies by 7.1% in the 2nd quarter. Principal Financial Group Inc. now owns 1,987,161 shares of the industrial products company’s stock worth $934,363,000 after acquiring an additional 131,170 shares during the last quarter. Toronto Dominion Bank lifted its holdings in Roper Technologies by 8.8% during the 2nd quarter. Toronto Dominion Bank now owns 66,982 shares of the industrial products company’s stock worth $31,494,000 after buying an additional 5,403 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in Roper Technologies by 79.0% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 76,969 shares of the industrial products company’s stock worth $36,190,000 after buying an additional 33,968 shares in the last quarter. Finally, South State Corp lifted its holdings in Roper Technologies by 3.3% during the 2nd quarter. South State Corp now owns 27,089 shares of the industrial products company’s stock worth $12,737,000 after buying an additional 877 shares in the last quarter. 91.75% of the stock is owned by institutional investors.
A number of brokerages have recently weighed in on ROP. Wells Fargo & Company raised their price objective on shares of Roper Technologies from $490.00 to $540.00 and gave the company an “overweight” rating in a report on Wednesday, July 21st. Cowen reaffirmed an “outperform” rating and issued a $489.73 target price (down from $500.00) on shares of Roper Technologies in a research report on Monday, July 26th. Barclays increased their target price on shares of Roper Technologies from $510.00 to $550.00 and gave the company an “overweight” rating in a research report on Monday, July 26th. Oppenheimer assumed coverage on shares of Roper Technologies in a research report on Friday, July 23rd. They set a “buy” rating and a $560.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their price objective on shares of Roper Technologies from $320.00 to $355.00 and gave the stock an “underweight” rating in a research report on Friday, August 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $497.29.
Shares of NYSE ROP traded up $3.25 during midday trading on Wednesday, hitting $471.97. The company had a trading volume of 494 shares, compared to its average volume of 482,540. The company has a quick ratio of 0.63, a current ratio of 0.72 and a debt-to-equity ratio of 0.74. Roper Technologies, Inc. has a twelve month low of $362.90 and a twelve month high of $499.21. The business has a 50-day simple moving average of $483.80 and a two-hundred day simple moving average of $449.53. The firm has a market capitalization of $49.76 billion, a price-to-earnings ratio of 46.69, a price-to-earnings-growth ratio of 2.97 and a beta of 1.04.
Roper Technologies (NYSE:ROP) last announced its earnings results on Thursday, July 22nd. The industrial products company reported $3.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.67 by $0.09. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Roper Technologies had a net margin of 17.80% and a return on equity of 14.07%. The firm’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.94 earnings per share. On average, equities analysts forecast that Roper Technologies, Inc. will post 15.19 EPS for the current year.
About Roper Technologies
Roper Technologies, Inc is diversified technology company, which engages in the provision of engineered products and solutions for the global niche markets. It operates through the following segments: Application Software, Network Software and Systems, Measurement and Analytical Solutions, and Process Technologies.
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