Roper Technologies Inc (NYSE:ROP) was the target of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 2,690,000 shares, a growth of 9.8% from the January 15th total of 2,450,000 shares. Currently, 2.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 511,700 shares, the days-to-cover ratio is currently 5.3 days.
In related news, VP Jason Conley sold 2,500 shares of Roper Technologies stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $352.46, for a total transaction of $881,150.00. Following the completion of the sale, the vice president now owns 22,070 shares in the company, valued at approximately $7,778,792.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Christopher Wright sold 500 shares of Roper Technologies stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $351.36, for a total value of $175,680.00. Following the sale, the director now owns 59,939 shares of the company’s stock, valued at approximately $21,060,167.04. The disclosure for this sale can be found here. Insiders have sold a total of 8,500 shares of company stock valued at $3,036,995 in the last ninety days. Corporate insiders own 1.90% of the company’s stock.
Several large investors have recently modified their holdings of the company. State Street Corp grew its holdings in shares of Roper Technologies by 1.4% during the 4th quarter. State Street Corp now owns 4,347,223 shares of the industrial products company’s stock worth $1,539,917,000 after purchasing an additional 61,504 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Roper Technologies by 6.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,123,689 shares of the industrial products company’s stock worth $752,273,000 after acquiring an additional 134,374 shares in the last quarter. Principal Financial Group Inc. lifted its position in Roper Technologies by 9.8% during the 4th quarter. Principal Financial Group Inc. now owns 1,345,849 shares of the industrial products company’s stock worth $476,740,000 after acquiring an additional 119,835 shares in the last quarter. Inverness Counsel LLC NY lifted its position in Roper Technologies by 1.8% during the 4th quarter. Inverness Counsel LLC NY now owns 697,478 shares of the industrial products company’s stock worth $247,068,000 after acquiring an additional 12,361 shares in the last quarter. Finally, King Luther Capital Management Corp lifted its position in Roper Technologies by 1.3% during the 4th quarter. King Luther Capital Management Corp now owns 627,648 shares of the industrial products company’s stock worth $222,332,000 after acquiring an additional 8,145 shares in the last quarter. Institutional investors and hedge funds own 92.45% of the company’s stock.
Roper Technologies (NYSE:ROP) last issued its earnings results on Thursday, January 30th. The industrial products company reported $3.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.34 by $0.05. Roper Technologies had a return on equity of 15.85% and a net margin of 32.94%. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the previous year, the business earned $3.22 EPS. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, equities research analysts forecast that Roper Technologies will post 13.47 EPS for the current year.
ROP has been the subject of a number of recent research reports. Royal Bank of Canada lifted their price objective on Roper Technologies from $395.00 to $440.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Cowen reiterated an “outperform” rating and set a $400.00 price objective (up previously from $375.00) on shares of Roper Technologies in a research report on Tuesday, December 17th. Wells Fargo & Co lifted their price objective on Roper Technologies from $425.00 to $450.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Barclays restated a “hold” rating and issued a $368.00 price target on shares of Roper Technologies in a report on Monday, February 3rd. Finally, Stephens set a $386.00 price target on Roper Technologies and gave the company a “buy” rating in a report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Roper Technologies presently has an average rating of “Buy” and an average price target of $389.50.
About Roper Technologies
Roper Technologies, Inc designs and develops software, and engineered products and solutions worldwide. The company operates in four segments: Application Software; Network Software & Systems; Measurement & Analytical Solutions; and Process Technologies. It offers application management software, software-as-a-service applications, card systems/integrated security, toll and traffic systems, radio frequency identification card readers, and metering and remote monitoring products.
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