Legato Capital Management LLC Cuts Position in Roper Technologies, Inc. (NYSE:ROP)

Legato Capital Management LLC cut its holdings in Roper Technologies, Inc. (NYSE:ROP - Free Report) by 25.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new position in shares of Roper Technologies during the third quarter valued at about $28,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in Roper Technologies by 7,500.0% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 76 shares of the industrial products company's stock worth $40,000 after buying an additional 75 shares during the period. Golden State Wealth Management LLC acquired a new position in Roper Technologies in the 4th quarter worth approximately $45,000. Ameliora Wealth Management Ltd. acquired a new position in Roper Technologies in the 4th quarter worth approximately $49,000. Finally, Global Wealth Strategies & Associates boosted its position in Roper Technologies by 49.3% in the 4th quarter. Global Wealth Strategies & Associates now owns 100 shares of the industrial products company's stock worth $52,000 after purchasing an additional 33 shares in the last quarter. 93.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on ROP. TD Cowen upgraded Roper Technologies from a "hold" rating to a "buy" rating and upped their price objective for the stock from $535.00 to $615.00 in a research report on Tuesday, January 28th. Truist Financial restated a "buy" rating and issued a $675.00 price objective (up previously from $665.00) on shares of Roper Technologies in a research report on Friday, January 31st. Barclays decreased their target price on Roper Technologies from $569.00 to $562.00 and set an "underweight" rating on the stock in a research report on Wednesday, January 8th. Robert W. Baird increased their target price on Roper Technologies from $635.00 to $652.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Finally, Raymond James reiterated a "strong-buy" rating and set a $655.00 target price (up previously from $620.00) on shares of Roper Technologies in a research report on Friday, January 31st. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $622.30.

Insider Activity at Roper Technologies

In related news, CFO Jason Conley sold 3,000 shares of the business'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 completion of the sale, the chief financial officer now owns 31,522 shares in the company, valued at $18,221,292.10. The trade was a 8.69 % 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, Director Richard F. Wallman sold 351 shares of the business's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $575.25, for a total value of $201,912.75. Following the sale, the director now owns 20,187 shares of the company's stock, valued at approximately $11,612,571.75. The trade was a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,101 shares of company stock worth $2,947,475 in the last three months. 0.87% of the stock is owned by company insiders.

Roper Technologies Price Performance

ROP stock traded up $0.15 during midday trading on Friday, reaching $573.58. The stock had a trading volume of 353,178 shares, compared to its average volume of 665,349. The company's fifty day simple moving average is $538.46 and its 200 day simple moving average is $546.15. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.35. The company has a market cap of $61.50 billion, a price-to-earnings ratio of 40.00, a price-to-earnings-growth ratio of 2.78 and a beta of 1.05. Roper Technologies, Inc. has a 52-week low of $499.47 and a 52-week high of $584.43.

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.