Meiji Yasuda Life Insurance Co Cuts Holdings in Roper Technologies, Inc. (NYSE:ROP)

Meiji Yasuda Life Insurance Co decreased its holdings in Roper Technologies, Inc. (NYSE:ROP) by 3.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 2,666 shares of the industrial products company’s stock after selling 95 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in Roper Technologies were worth $1,503,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. New Covenant Trust Company N.A. bought a new stake in Roper Technologies during the first quarter valued at approximately $25,000. Rise Advisors LLC purchased a new position in shares of Roper Technologies during the 1st quarter worth $27,000. OFI Invest Asset Management bought a new stake in shares of Roper Technologies during the 1st quarter valued at $29,000. Versant Capital Management Inc increased its stake in shares of Roper Technologies by 58.8% in the 2nd quarter. Versant Capital Management Inc now owns 54 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 20 shares in the last quarter. Finally, Valley Wealth Managers Inc. purchased a new position in Roper Technologies during the second quarter valued at $31,000. Institutional investors own 93.31% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Oppenheimer reduced their price target on Roper Technologies from $650.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Truist Financial reaffirmed a “buy” rating and set a $660.00 price target on shares of Roper Technologies in a report on Tuesday, August 27th. Royal Bank of Canada increased their price objective on shares of Roper Technologies from $674.00 to $675.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Robert W. Baird upgraded shares of Roper Technologies from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $617.00 to $635.00 in a research note on Thursday, July 25th. Finally, Jefferies Financial Group increased their price target on Roper Technologies from $625.00 to $635.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong 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 $616.00.

Insider Activity

In related news, Director Robert D. Johnson sold 140 shares of Roper Technologies stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $550.34, for a total transaction of $77,047.60. Following the completion of the transaction, the director now directly owns 5,909 shares of the company’s stock, valued at approximately $3,251,959.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.87% of the company’s stock.

Roper Technologies Trading Down 0.3 %

Shares of ROP opened at $549.93 on Thursday. Roper Technologies, Inc. has a fifty-two week low of $474.46 and a fifty-two week high of $579.10. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.48 and a current ratio of 0.53. The company’s fifty day moving average is $547.82 and its 200 day moving average is $545.11. The stock has a market capitalization of $58.87 billion, a PE ratio of 39.91, a P/E/G ratio of 2.89 and a beta of 1.02.

Roper Technologies (NYSE:ROP) last announced its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $4.48 EPS for the quarter, beating analysts’ consensus estimates of $4.46 by $0.02. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.72 billion. Roper Technologies had a net margin of 22.14% and a return on equity of 10.77%. Sell-side analysts expect that Roper Technologies, Inc. will post 18.16 earnings per share for the current fiscal year.

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.