State of Michigan Retirement System Has $15.13 Million Stock Holdings in Roper Technologies, Inc. (NYSE:ROP)

State of Michigan Retirement System decreased its position in Roper Technologies, Inc. (NYSE:ROP) by 0.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,111 shares of the industrial products company’s stock after selling 100 shares during the period. State of Michigan Retirement System’s holdings in Roper Technologies were worth $15,133,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. PNC Financial Services Group Inc. raised its stake in shares of Roper Technologies by 5.4% in the third quarter. PNC Financial Services Group Inc. now owns 34,652 shares of the industrial products company’s stock valued at $19,282,000 after purchasing an additional 1,789 shares in the last quarter. Citigroup Inc. raised its stake in shares of Roper Technologies by 17.6% in the 3rd quarter. Citigroup Inc. now owns 190,587 shares of the industrial products company’s stock valued at $106,050,000 after buying an additional 28,555 shares in the last quarter. Douglas Lane & Associates LLC lifted its holdings in shares of Roper Technologies by 18.9% during the 4th quarter. Douglas Lane & Associates LLC now owns 109,656 shares of the industrial products company’s stock worth $57,005,000 after acquiring an additional 17,466 shares during the period. Synovus Financial Corp lifted its holdings in shares of Roper Technologies by 19.6% during the 3rd quarter. Synovus Financial Corp now owns 5,867 shares of the industrial products company’s stock worth $3,265,000 after acquiring an additional 961 shares during the period. Finally, Harvest Fund Management Co. Ltd increased its stake in Roper Technologies by 52.5% in the third quarter. Harvest Fund Management Co. Ltd now owns 4,938 shares of the industrial products company’s stock valued at $2,747,000 after acquiring an additional 1,699 shares during the period. Institutional investors own 93.31% of the company’s stock.

Roper Technologies Stock Down 0.2 %

Shares of NYSE ROP opened at $584.83 on Wednesday. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.35. The company has a market cap of $62.80 billion, a price-to-earnings ratio of 40.78, a price-to-earnings-growth ratio of 2.77 and a beta of 1.05. Roper Technologies, Inc. has a 12-month low of $499.47 and a 12-month high of $593.91. The firm’s 50-day simple moving average is $548.45 and its 200 day simple moving average is $550.36.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ROP shares. Oppenheimer upped their price objective on Roper Technologies from $630.00 to $640.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. boosted their price target on Roper Technologies from $539.00 to $558.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. TD Cowen upgraded Roper Technologies from a “hold” rating to a “buy” rating and increased their price objective for the stock from $535.00 to $615.00 in a research note on Tuesday, January 28th. Robert W. Baird set a $665.00 target price 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 target price (up previously from $620.00) on shares of Roper Technologies in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $623.60.

Insiders Place Their Bets

In other news, Director Richard F. Wallman sold 351 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $575.25, for a total transaction of $201,912.75. Following the completion of the sale, the director now owns 20,187 shares in the company, valued at $11,612,571.75. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jason Conley sold 3,000 shares of the company’s stock in a transaction on Friday, January 31st. The shares were 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 in the company, valued at $18,221,292.10. This trade represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,101 shares of company stock valued at $4,712,045. Insiders own 0.87% of the company’s stock.

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.