Sumitomo Mitsui DS Asset Management Company Ltd Grows Stake in Roper Technologies, Inc. (NYSE:ROP)

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Roper Technologies, Inc. (NYSE:ROP) by 4.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,795 shares of the industrial products company’s stock after purchasing an additional 635 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Roper Technologies were worth $7,171,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ROP. Ledyard National Bank boosted its holdings in shares of Roper Technologies by 2.1% in the 3rd quarter. Ledyard National Bank now owns 896 shares of the industrial products company’s stock valued at $499,000 after buying an additional 18 shares in the last quarter. Meridian Financial Partners LLC lifted its position in Roper Technologies by 1.0% in the fourth quarter. Meridian Financial Partners LLC now owns 2,052 shares of the industrial products company’s stock valued at $1,067,000 after acquiring an additional 20 shares during the last quarter. Cromwell Holdings LLC boosted its stake in Roper Technologies by 6.8% in the third quarter. Cromwell Holdings LLC now owns 332 shares of the industrial products company’s stock valued at $185,000 after acquiring an additional 21 shares in the last quarter. Hibernia Wealth Partners LLC grew its holdings in shares of Roper Technologies by 4.2% during the third quarter. Hibernia Wealth Partners LLC now owns 522 shares of the industrial products company’s stock worth $291,000 after purchasing an additional 21 shares during the last quarter. Finally, Ballast Advisors LLC lifted its holdings in shares of Roper Technologies by 1.3% in the 3rd quarter. Ballast Advisors LLC now owns 1,656 shares of the industrial products company’s stock valued at $921,000 after purchasing an additional 21 shares during the last quarter. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ROP. Mizuho raised their price target on Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Barclays cut their target price on shares of Roper Technologies from $569.00 to $562.00 and set an “underweight” rating on the stock in a report on Wednesday, January 8th. Royal Bank of Canada lowered their price objective on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. TD Cowen raised shares of Roper Technologies from a “hold” rating to a “buy” rating and upped their target price for the company from $535.00 to $615.00 in a report on Tuesday, January 28th. Finally, Robert W. Baird raised their price target on Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $622.30.

Roper Technologies Stock Performance

NYSE ROP opened at $572.76 on Friday. 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 business’s 50 day moving average is $537.35 and its two-hundred day moving average is $545.28. The stock has a market capitalization of $61.42 billion, a price-to-earnings ratio of 39.94, a PEG ratio of 2.76 and a beta of 1.05. Roper Technologies, Inc. has a 12-month low of $499.47 and a 12-month high of $584.44.

Insider Buying and Selling

In related news, VP John K. Stipancich sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $578.04, for a total value of $578,040.00. Following the sale, the vice president now owns 38,932 shares in the company, valued at $22,504,253.28. This represents a 2.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Jason Conley sold 3,000 shares of Roper Technologies stock in a transaction on Friday, January 31st. The stock was sold at an average price of $578.05, for a total value of $1,734,150.00. Following the transaction, the chief financial officer now directly owns 31,522 shares of the company’s stock, valued at approximately $18,221,292.10. This represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,101 shares of company stock valued at $2,947,475 over the last quarter. Company insiders own 0.87% of the company’s stock.

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.