Roper Technologies (NASDAQ:ROP) Upgraded to Neutral at JPMorgan Chase & Co.

Key Points

• JPMorgan upgraded Roper Technologies from “underweight” to “neutral” and assigned a $490 price target, implying 11.84% upside from the prior close.
• Analyst sentiment remains mixed, with seven Buy, ten Hold, and two Sell ratings; the consensus rating is “Hold” with an average target price of $465.33.
• Roper exceeded quarterly EPS expectations, reporting $5.89 versus the $5.79 consensus, while revenue rose 7.7% year over year to $2.17 billion. Institutional investors own 93.31% of the company’s shares.

Roper Technologies (NASDAQ:ROP - Get Free Report) was upgraded by analysts at JPMorgan Chase & Co. from an "underweight" rating to a "neutral" rating in a report released on Monday, Marketbeat.com reports. The firm presently has a $490.00 price objective on the industrial products company's stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 11.84% from the stock's previous close.

Other equities analysts have also issued reports about the stock. Citigroup boosted their target price on shares of Roper Technologies from $450.00 to $525.00 and gave the company a "buy" rating in a report on Friday. Royal Bank Of Canada increased their price target on shares of Roper Technologies from $417.00 to $450.00 and gave the company a "sector perform" rating in a research note on Friday. Mizuho set a $355.00 price target on shares of Roper Technologies in a report on Tuesday, July 21st. Argus raised shares of Roper Technologies from a "hold" rating to a "buy" rating and set a $450.00 price target on the stock in a research report on Thursday, August 6th. Finally, Piper Sandler reduced their price target on shares of Roper Technologies from $540.00 to $526.00 and set an "overweight" rating on the stock in a research report on Friday, July 24th. Seven investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $465.33.

Roper Technologies Stock Performance

Shares of Roper Technologies stock opened at $438.14 on Monday. The stock has a market cap of $43.33 billion, a P/E ratio of 17.29, a P/E/G ratio of 2.17 and a beta of 0.75. The stock's 50 day simple moving average is $387.86 and its 200-day simple moving average is $364.58. Roper Technologies has a 1-year low of $305.96 and a 1-year high of $483.36. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.43 and a quick ratio of 0.39.

Roper Technologies (NASDAQ:ROP - Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The industrial products company reported $5.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.79 by $0.10. Roper Technologies had a return on equity of 11.64% and a net margin of 30.71%. The business had revenue of $2.17 billion during the quarter. During the same quarter last year, the company earned $5.14 earnings per share. Roper Technologies's revenue for the quarter was up 7.7% on a year-over-year basis. Analysts predict that Roper Technologies will post 22.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Roper Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its position in shares of Roper Technologies by 14.5% during the first quarter. PNC Financial Services Group Inc. now owns 34,615 shares of the industrial products company's stock worth $12,249,000 after purchasing an additional 4,384 shares in the last quarter. Banyan Capital Management Inc. acquired a new position in Roper Technologies during the 1st quarter worth $6,439,000. Core Capital Management & Research inc. purchased a new position in shares of Roper Technologies in the 2nd quarter valued at about $2,472,000. Paralel Advisors LLC purchased a new position in shares of Roper Technologies in the 2nd quarter valued at about $2,210,000. Finally, NewEdge Advisors LLC grew its position in shares of Roper Technologies by 153.2% during the second quarter. NewEdge Advisors LLC now owns 6,023 shares of the industrial products company's stock worth $2,038,000 after buying an additional 3,644 shares in the last quarter. 93.31% of the stock is owned by hedge funds and other institutional investors.

About Roper Technologies

Roper Technologies, Inc is a diversified technology company that develops and acquires businesses serving specialized markets. Its portfolio includes application software, network software and technology-enabled products used by businesses, healthcare organizations, government agencies and other institutions.

The company's software businesses provide solutions for areas such as education administration, healthcare information management, enterprise asset management, compliance, legal and construction workflows, and financial services.

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