Redmond Asset Management LLC Takes $504,000 Position in Roper Technologies, Inc. (NYSE:ROP)

Redmond Asset Management LLC bought a new stake in Roper Technologies, Inc. (NYSE:ROP) in the fourth quarter, Holdings Channel reports. The institutional investor bought 970 shares of the industrial products company’s stock, valued at approximately $504,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ROP. Fortitude Family Office LLC purchased a new stake in shares of Roper Technologies in the third quarter valued at about $28,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Roper Technologies by 7,500.0% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 76 shares of the industrial products company’s stock valued at $40,000 after buying an additional 75 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Roper Technologies in the fourth quarter valued at about $45,000. Ameliora Wealth Management Ltd. purchased a new stake in shares of Roper Technologies in the fourth quarter valued at about $49,000. Finally, Global Wealth Strategies & Associates increased its stake in shares of 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 acquiring an additional 33 shares during the period. 93.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. TD Cowen upgraded shares of Roper Technologies from a “hold” rating to a “buy” rating and boosted their price target for the stock from $535.00 to $615.00 in a research note on Tuesday, January 28th. Robert W. Baird set a $665.00 price target on shares of Roper Technologies in a research note on Friday, January 31st. JPMorgan Chase & Co. boosted their price target on shares of Roper Technologies from $539.00 to $558.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Oppenheimer boosted their price target on shares of Roper Technologies from $630.00 to $640.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Finally, Barclays dropped their price target on shares of Roper Technologies from $569.00 to $562.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $623.60.

Insider Activity

In other news, Director Richard F. Wallman sold 351 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $575.25, for a total value of $201,912.75. Following the sale, the director now directly owns 20,187 shares in the company, valued at $11,612,571.75. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jason Conley sold 3,000 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $578.05, for a total transaction of $1,734,150.00. Following the completion of the sale, the chief financial officer now owns 31,522 shares in the company, valued at $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 worth $2,947,475 over the last ninety days. 0.87% of the stock is currently owned by insiders.

Roper Technologies Trading Down 1.3 %

Shares of ROP opened at $574.05 on Friday. The firm’s 50-day moving average is $541.23 and its two-hundred day moving average is $547.67. The firm has a market capitalization of $61.55 billion, a P/E ratio of 40.03, a PEG ratio of 2.77 and a beta of 1.05. Roper Technologies, Inc. has a twelve month low of $499.47 and a twelve month high of $584.43. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.35.

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.