Perennial Advisors LLC Acquires Shares of 661 Roper Technologies, Inc. (NYSE:ROP)

Perennial Advisors LLC acquired a new stake in shares of Roper Technologies, Inc. (NYSE:ROP) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 661 shares of the industrial products company’s stock, valued at approximately $390,000.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Roper Technologies by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 10,575,103 shares of the industrial products company’s stock valued at $5,497,467,000 after purchasing an additional 72,503 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in Roper Technologies by 42.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,151,502 shares of the industrial products company’s stock valued at $2,678,009,000 after purchasing an additional 1,529,716 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Roper Technologies by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 2,476,210 shares of the industrial products company’s stock valued at $1,284,242,000 after purchasing an additional 29,184 shares during the last quarter. Norges Bank purchased a new stake in Roper Technologies during the fourth quarter valued at about $914,052,000. Finally, Invesco Ltd. lifted its holdings in Roper Technologies by 2.2% during the fourth quarter. Invesco Ltd. now owns 1,490,212 shares of the industrial products company’s stock valued at $774,687,000 after purchasing an additional 31,531 shares during the last quarter. 93.31% of the stock is owned by hedge funds and other institutional investors.

Roper Technologies Stock Up 0.6%

ROP stock opened at $572.87 on Friday. Roper Technologies, Inc. has a 1-year low of $499.47 and a 1-year high of $595.17. 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’s 50 day moving average is $562.95 and its 200 day moving average is $557.97. The stock has a market cap of $61.59 billion, a price-to-earnings ratio of 39.95, a price-to-earnings-growth ratio of 2.77 and a beta of 1.03.

Roper Technologies (NYSE:ROP) last issued its quarterly earnings results on Monday, April 28th. The industrial products company reported $4.78 EPS for the quarter, beating analysts’ consensus estimates of $4.74 by $0.04. Roper Technologies had a net margin of 22.01% and a return on equity of 10.79%. During the same quarter in the previous year, the company earned $4.41 EPS. Roper Technologies’s revenue for the quarter was up 12.0% compared to the same quarter last year. Sell-side analysts predict that Roper Technologies, Inc. will post 19.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ROP has been the topic of several analyst reports. Robert W. Baird upped their price target on Roper Technologies from $660.00 to $668.00 and gave the company an “outperform” rating in a research report on Tuesday, April 29th. Mizuho set a $600.00 price target on Roper Technologies in a research report on Friday, May 16th. Barclays reiterated an “underweight” rating on shares of Roper Technologies in a research report on Monday, April 28th. JPMorgan Chase & Co. upped their price target on Roper Technologies from $470.00 to $561.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Finally, Stifel Nicolaus decreased their price target on Roper Technologies from $685.00 to $650.00 and set a “buy” rating on the stock in a research report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $632.36.

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.