Roper Technologies, Inc. (NYSE:ROP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.

According to Zacks, “Roper has outperformed the S&P 500 on a year-to-date basis. The stock benefitted from good first-quarter results as well as raised guidance. We continue to believe that the Roper’s asset-light business model will boost financial performance in the long run. Also, winning of key projects like New York City’s MTA project are long term growth drivers. Its aggressive acquisition strategy will continue to help boost its performance. In 2016, Roper spent nearly $3.7 billion in software acquisitions, which include ConstructConnect and Deltek, which will help boost its performance especially in the software and network businesses. Meanwhile, estimates have been stable lately ahead of the company's Q2 earnings release. The company has mixed record of earnings surprises in recent quarters. However, stiff competition, weakness in oil and gas, and a leveraged balance sheet remain overhangs. “

Several other brokerages also recently commented on ROP. Raymond James Financial, Inc. raised their target price on Roper Technologies from $253.00 to $268.00 in a research note on Wednesday, July 5th. Royal Bank Of Canada restated a “buy” rating and issued a $248.00 target price on shares of Roper Technologies in a research report on Wednesday, July 12th. Stifel Nicolaus restated a “buy” rating and issued a $242.00 target price on shares of Roper Technologies in a research report on Friday, July 7th. J P Morgan Chase & Co cut Roper Technologies from an “overweight” rating to a “neutral” rating and set a $219.00 price target on the stock. in a research note on Friday, March 24th. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $250.00 price target (up from $220.00) on shares of Roper Technologies in a research note on Monday, April 17th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $232.09.

Shares of Roper Technologies (ROP) traded up 0.22% during midday trading on Monday, hitting $236.32. 83,675 shares of the company were exchanged. The company has a market capitalization of $24.11 billion, a P/E ratio of 36.47 and a beta of 1.05. Roper Technologies has a one year low of $159.28 and a one year high of $238.49. The company has a 50-day moving average of $227.90 and a 200 day moving average of $208.27.

Roper Technologies (NYSE:ROP) last released its earnings results on Friday, April 28th. The industrial products company reported $2.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.12. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.09 billion. Roper Technologies had a net margin of 16.74% and a return on equity of 12.81%. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.81 EPS. On average, equities research analysts expect that Roper Technologies will post $9.21 earnings per share for the current fiscal year.

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In other news, Director Christopher Wright sold 1,800 shares of the company’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $228.70, for a total transaction of $411,660.00. Following the transaction, the director now directly owns 66,104 shares of the company’s stock, valued at $15,117,984.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.50% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Motco boosted its stake in Roper Technologies by 387.0% in the first quarter. Motco now owns 487 shares of the industrial products company’s stock worth $101,000 after buying an additional 387 shares during the period. Independent Portfolio Consultants Inc. boosted its stake in Roper Technologies by 164.7% in the second quarter. Independent Portfolio Consultants Inc. now owns 503 shares of the industrial products company’s stock worth $116,000 after buying an additional 313 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Roper Technologies by 9.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 618 shares of the industrial products company’s stock worth $129,000 after buying an additional 51 shares during the period. Creative Planning boosted its stake in Roper Technologies by 7.7% in the first quarter. Creative Planning now owns 716 shares of the industrial products company’s stock worth $148,000 after buying an additional 51 shares during the period. Finally, Quadrant Capital Group LLC boosted its stake in Roper Technologies by 4.1% in the first quarter. Quadrant Capital Group LLC now owns 732 shares of the industrial products company’s stock worth $147,000 after buying an additional 29 shares during the period. Institutional investors own 96.71% of the company’s stock.

Roper Technologies Company Profile

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Analyst Recommendations for Roper Technologies (NYSE:ROP)

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