Legato Capital Management LLC Reduces Stake in Roper Technologies, Inc. (NYSE:ROP)

Legato Capital Management LLC lessened its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 25.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,890 shares of the industrial products company’s stock after selling 995 shares during the quarter. Legato Capital Management LLC’s holdings in Roper Technologies were worth $1,502,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ROP. State Street Corp boosted its position in shares of Roper Technologies by 2.9% in the third quarter. State Street Corp now owns 4,730,427 shares of the industrial products company’s stock valued at $2,632,199,000 after acquiring an additional 132,575 shares during the period. Geode Capital Management LLC lifted its stake in Roper Technologies by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,447,026 shares of the industrial products company’s stock worth $1,357,162,000 after purchasing an additional 51,131 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Roper Technologies by 87.8% in the 3rd quarter. Wellington Management Group LLP now owns 738,582 shares of the industrial products company’s stock valued at $410,977,000 after purchasing an additional 345,268 shares during the period. JPMorgan Chase & Co. grew its position in shares of Roper Technologies by 7.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 662,033 shares of the industrial products company’s stock valued at $368,382,000 after purchasing an additional 45,947 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Roper Technologies by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 648,903 shares of the industrial products company’s stock worth $361,076,000 after purchasing an additional 9,653 shares during the period. 93.31% of the stock is currently owned by institutional investors.

Roper Technologies Trading Down 2.5 %

Shares of ROP opened at $566.76 on Thursday. Roper Technologies, Inc. has a fifty-two week low of $499.47 and a fifty-two week high of $584.43. The firm has a market cap of $60.77 billion, a price-to-earnings ratio of 39.52, a PEG ratio of 2.78 and a beta of 1.05. The firm has a 50 day moving average price of $537.88 and a 200-day moving average price of $545.61. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.37 and a current ratio of 0.40.

Insider Buying and Selling

In related news, CFO Jason Conley sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $578.05, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard F. Wallman sold 351 shares of the business’s 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 completion of the sale, the director now owns 20,187 shares of the company’s stock, valued at $11,612,571.75. The trade was a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,101 shares of company stock worth $2,947,475 in the last 90 days. 0.87% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Raymond James reissued a “strong-buy” rating and set a $655.00 price objective (up previously from $620.00) on shares of Roper Technologies in a research note on Friday, January 31st. Mizuho lifted their price target on Roper Technologies from $530.00 to $565.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Barclays decreased their price objective on shares of Roper Technologies from $569.00 to $562.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 8th. Truist Financial reiterated a “buy” rating and set a $675.00 target price (up from $665.00) on shares of Roper Technologies in a research report on Friday, January 31st. Finally, Robert W. Baird increased their price target on shares of Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s 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 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.