Roper Technologies (NYSE:ROP) Sets New 52-Week High – Time to Buy?

Roper Technologies, Inc. (NYSE:ROP)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $595.17 and last traded at $593.81, with a volume of 629102 shares traded. The stock had previously closed at $584.83.

Wall Street Analyst Weigh In

ROP has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price objective on Roper Technologies from $539.00 to $558.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Truist Financial reiterated a “buy” rating and set a $675.00 price target (up from $665.00) on shares of Roper Technologies in a report on Friday, January 31st. Oppenheimer raised their price target on shares of Roper Technologies from $630.00 to $640.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Robert W. Baird set a $665.00 price objective on shares of Roper Technologies in a research note on Friday, January 31st. Finally, Barclays cut their target price on 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 assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $623.60.

Roper Technologies Stock Performance

The firm has a market capitalization of $63.77 billion, a P/E ratio of 41.41, a PEG ratio of 2.77 and a beta of 1.05. The company has a 50-day simple moving average of $549.76 and a two-hundred day simple moving average of $550.66. 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 Activity at Roper Technologies

In other news, Director Richard F. Wallman sold 351 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $575.25, for a total transaction of $201,912.75. Following the sale, the director now owns 20,187 shares in the company, valued at approximately $11,612,571.75. The trade was a 1.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Brandon L. Cross sold 750 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $577.83, for a total transaction of $433,372.50. Following the completion of the sale, the vice president now directly owns 1,329 shares in the company, valued at $767,936.07. This represents a 36.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,101 shares of company stock worth $4,712,045 over the last ninety days. 0.87% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Roper Technologies

Several large investors have recently made changes to their positions in ROP. VSM Wealth Advisory LLC bought a new position in Roper Technologies during the 4th quarter valued at approximately $26,000. Putney Financial Group LLC bought a new position in shares of Roper Technologies during the fourth quarter valued at $31,000. CoreFirst Bank & Trust bought a new position in shares of Roper Technologies during the fourth quarter valued at $36,000. OFI Invest Asset Management purchased a new position in shares of Roper Technologies in the 4th quarter worth about $38,000. Finally, Parvin Asset Management LLC bought a new position in Roper Technologies in the 4th quarter worth about $39,000. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

About Roper Technologies

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.