Empire Life Investments Inc. Lowers Holdings in Roper Technologies, Inc. (NYSE:ROP)

Empire Life Investments Inc. cut its stake in Roper Technologies, Inc. (NYSE:ROP - Free Report) by 6.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,501 shares of the industrial products company's stock after selling 1,964 shares during the period. Empire Life Investments Inc.'s holdings in Roper Technologies were worth $13,777,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in Roper Technologies by 22.6% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 3,352 shares of the industrial products company's stock valued at $1,865,000 after buying an additional 617 shares during the period. Good Life Advisors LLC boosted its holdings in shares of Roper Technologies by 13.1% in the third quarter. Good Life Advisors LLC now owns 3,511 shares of the industrial products company's stock worth $1,954,000 after buying an additional 407 shares during the period. Bleakley Financial Group LLC lifted its position in shares of Roper Technologies by 2.3% in the third quarter. Bleakley Financial Group LLC now owns 2,314 shares of the industrial products company's stock worth $1,288,000 after purchasing an additional 51 shares in the last quarter. Drake & Associates LLC purchased a new stake in shares of Roper Technologies in the third quarter worth approximately $267,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Roper Technologies by 3.0% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,160 shares of the industrial products company's stock worth $7,323,000 after purchasing an additional 383 shares in the last quarter. Institutional investors own 93.31% of the company's stock.

Analysts Set New Price Targets

ROP has been the topic of several recent research reports. Oppenheimer raised their price objective on shares of Roper Technologies from $630.00 to $640.00 and gave the company an "outperform" rating in a research report on Friday, January 31st. TD Cowen upgraded shares of Roper Technologies from a "hold" rating to a "buy" rating and raised their price objective for the stock from $535.00 to $615.00 in a research note on Tuesday, January 28th. Raymond James reiterated a "strong-buy" rating and set a $655.00 price target (up previously from $620.00) on shares of Roper Technologies in a research note on Friday, January 31st. Barclays reduced their target price 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. Finally, Truist Financial reaffirmed a "buy" rating and issued a $675.00 price target (up from $665.00) on shares of Roper Technologies in a report on Friday, January 31st. One research 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. According to MarketBeat, Roper Technologies has a consensus rating of "Moderate Buy" and an average target price of $622.30.

Roper Technologies Stock Performance

ROP stock traded up $4.51 during midday trading on Wednesday, hitting $577.04. The company's stock had a trading volume of 477,980 shares, compared to its average volume of 658,706. The stock's 50-day moving average price is $539.42 and its 200 day moving average price is $546.62. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.35. Roper Technologies, Inc. has a 1 year low of $499.47 and a 1 year high of $584.43. The stock has a market cap of $61.88 billion, a price-to-earnings ratio of 40.24, a PEG ratio of 2.74 and a beta of 1.05.

Insider Buying and Selling at Roper Technologies

In related news, VP Brandon L. Cross sold 750 shares of the 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 position. The sale 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 that occurred 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 of the company's stock, valued at $18,221,292.10. The trade was a 8.69 % 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 over the last ninety days. 0.87% of the stock is currently owned by company insiders.

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.