Roper Technologies (NYSE:ROP) Price Target Cut to $562.00 by Analysts at Barclays

Roper Technologies (NYSE:ROP - Get Free Report) had its target price cut by equities researchers at Barclays from $569.00 to $562.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an "underweight" rating on the industrial products company's stock. Barclays's price target suggests a potential upside of 10.13% from the stock's previous close.

Several other analysts have also recently commented on ROP. Robert W. Baird raised their price objective on shares of Roper Technologies from $635.00 to $652.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Truist Financial reiterated a "buy" rating and set a $665.00 price target (up from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. Royal Bank of Canada lowered their price target on Roper Technologies from $675.00 to $666.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Mizuho raised their price objective on Roper Technologies from $530.00 to $565.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Finally, Oppenheimer started coverage on Roper Technologies in a report on Monday, December 23rd. They issued an "outperform" rating and a $630.00 target price on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $623.33.

Roper Technologies Stock Performance

NYSE:ROP traded up $3.20 during mid-day trading on Wednesday, reaching $510.30. The stock had a trading volume of 960,713 shares, compared to its average volume of 710,263. Roper Technologies has a twelve month low of $504.30 and a twelve month high of $580.09. The business has a 50 day simple moving average of $544.32 and a 200 day simple moving average of $548.29. The firm has a market capitalization of $54.72 billion, a price-to-earnings ratio of 37.33, a PEG ratio of 2.84 and a beta of 1.04. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.44 and a current ratio of 0.48.

Roper Technologies (NYSE:ROP - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share for the quarter, beating analysts' consensus estimates of $4.53 by $0.09. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.72 billion. Roper Technologies had a return on equity of 10.73% and a net margin of 21.78%. The company's revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business earned $4.32 earnings per share. On average, analysts expect that Roper Technologies will post 18.26 earnings per share for the current fiscal year.

Insider Transactions at Roper Technologies

In related news, Director Richard F. Wallman sold 1,000 shares of the company's stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $550.00, for a total value of $550,000.00. Following the completion of the transaction, the director now directly owns 32,955 shares in the company, valued at approximately $18,125,250. This represents a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.87% of the company's stock.

Institutional Trading of Roper Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ROP. Fairscale Capital LLC acquired a new stake in shares of Roper Technologies in the second quarter worth approximately $28,000. Fortitude Family Office LLC acquired a new position in shares of Roper Technologies in the 3rd quarter valued at $28,000. Valley Wealth Managers Inc. purchased a new stake in shares of Roper Technologies during the 2nd quarter valued at $31,000. Global Wealth Strategies & Associates acquired a new stake in shares of Roper Technologies during the 3rd quarter worth $37,000. Finally, Kimelman & Baird LLC purchased a new position in shares of Roper Technologies in the 2nd quarter worth $42,000. Hedge funds and other institutional investors own 93.31% of the company's stock.

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.