California State Teachers Retirement System Cuts Position in Roper Technologies, Inc. (NYSE:ROP)

California State Teachers Retirement System reduced its position in Roper Technologies, Inc. (NYSE:ROP – Get Rating) by 0.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,142 shares of the industrial products company’s stock after selling 1,549 shares during the period. California State Teachers Retirement System owned approximately 0.17% of Roper Technologies worth $64,427,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Roper Technologies by 752.4% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 620,910 shares of the industrial products company’s stock worth $223,304,000 after buying an additional 548,070 shares during the period. Durable Capital Partners LP boosted its position in Roper Technologies by 51.3% during the 1st quarter. Durable Capital Partners LP now owns 1,395,525 shares of the industrial products company’s stock worth $659,009,000 after purchasing an additional 473,168 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Roper Technologies by 4.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 12,028,540 shares of the industrial products company’s stock valued at $4,747,063,000 after purchasing an additional 462,988 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in Roper Technologies by 22.8% in the third quarter. CIBC Private Wealth Group LLC now owns 1,019,718 shares of the industrial products company’s stock valued at $366,732,000 after purchasing an additional 189,362 shares during the period. Finally, CCLA Investment Management acquired a new position in shares of Roper Technologies during the third quarter worth about $62,405,000. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Insider Buying and Selling at Roper Technologies

In other news, Director Christopher Wright sold 471 shares of the firm’s stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $429.55, for a total value of $202,318.05. Following the transaction, the director now directly owns 38,127 shares in the company, valued at approximately $16,377,452.85. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Christopher Wright sold 471 shares of the stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $429.55, for a total transaction of $202,318.05. Following the sale, the director now owns 38,127 shares in the company, valued at $16,377,452.85. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Laurence Neil Hunn sold 5,000 shares of Roper Technologies stock in a transaction that occurred on Tuesday, January 10th. The shares were sold at an average price of $443.57, for a total value of $2,217,850.00. Following the completion of the transaction, the chief executive officer now owns 112,048 shares of the company’s stock, valued at $49,701,131.36. The disclosure for this sale can be found here. 0.88% of the stock is owned by insiders.

Roper Technologies Stock Performance

Shares of Roper Technologies stock opened at $428.42 on Friday. The firm has a market cap of $45.52 billion, a PE ratio of 10.06, a price-to-earnings-growth ratio of 2.50 and a beta of 1.03. Roper Technologies, Inc. has a 1 year low of $356.21 and a 1 year high of $488.23. The firm’s 50-day simple moving average is $432.31 and its 200-day simple moving average is $416.14. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.63 and a current ratio of 0.67.

Roper Technologies (NYSE:ROP – Get Rating) last announced its quarterly earnings data on Friday, January 27th. The industrial products company reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.15. Roper Technologies had a return on equity of 11.43% and a net margin of 80.89%. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the prior year, the firm posted $3.73 earnings per share. Roper Technologies’s revenue for the quarter was up 13.8% compared to the same quarter last year. Equities analysts forecast that Roper Technologies, Inc. will post 16.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ROP shares. StockNews.com started coverage on Roper Technologies in a report on Thursday. They set a “hold” rating on the stock. Royal Bank of Canada boosted their target price on shares of Roper Technologies from $504.00 to $505.00 and gave the stock an “outperform” rating in a research report on Monday, January 30th. Barclays raised their price target on shares of Roper Technologies from $510.00 to $518.00 and gave the company an “overweight” rating in a report on Monday, January 30th. The Goldman Sachs Group boosted their price objective on shares of Roper Technologies from $423.00 to $468.00 and gave the stock a “neutral” rating in a report on Thursday, December 15th. Finally, Wolfe Research upgraded Roper Technologies from a “peer perform” rating to an “outperform” rating and set a $480.00 target price for the company in a research note on Thursday, February 23rd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Roper Technologies has an average rating of “Moderate Buy” and a consensus price target of $495.67.

About Roper Technologies

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Roper Technologies, Inc is a diversified technology company, which engages in the provision of engineered products and solutions for global niche markets. It operates through the following segments: Application Software, Network Software, and Technology Enabled Products. The Application Software segment includes Aderant, CBORD/Horizon, CliniSys, Data Innovations, Deltek, Frontline Education, IntelliTrans, PowerPlan, Strata, and Vertafore.