Provident Investment Management Lowers stake in Roper Technologies Inc (ROP)

Roper Technologies Inc (ROP) : Provident Investment Management reduced its stake in Roper Technologies Inc by 7.27% during the most recent quarter end. The investment management company now holds a total of 142,203 shares of Roper Technologies Inc which is valued at $24,807,313 after selling 11,143 shares in Roper Technologies Inc , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Roper Technologies Inc makes up approximately 4.87% of Provident Investment Management’s portfolio.

Other Hedge Funds, Including , Edge Asset Management Inc added ROP to its portfolio by purchasing 56,149 company shares during the most recent quarter which is valued at $9,639,660. Roper Technologies Inc makes up approx 0.08% of Edge Asset Management Inc’s portfolio.Glenmede Trust Co Na reduced its stake in ROP by selling 74 shares or 3.01% in the most recent quarter. The Hedge Fund company now holds 2,382 shares of ROP which is valued at $406,631. Spot Trading L.l.c sold out all of its stake in ROP during the most recent quarter. The investment firm sold 1,600 shares of ROP which is valued $270,512.Evercore Wealth Management boosted its stake in ROP in the latest quarter, The investment management firm added 432 additional shares and now holds a total of 200,663 shares of Roper Technologies Inc which is valued at $33,926,093. Roper Technologies Inc makes up approx 1.46% of Evercore Wealth Management’s portfolio.

Roper Technologies Inc opened for trading at $172.87 and hit $173.23 on the upside on Wednesday, eventually ending the session at $172.88, with a gain of 0.09% or 0.16 points. The heightened volatility saw the trading volume jump to 5,53,899 shares. Company has a market cap of $17,520 M.

On the company’s financial health, Roper Technologies Inc reported $1.56 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Jul 25, 2016. Analyst had a consensus of $1.61. The company had revenue of $934.00 million for the quarter, compared to analysts expectations of $955.47 million. The company’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.70 EPS.

Many Wall Street Analysts have commented on Roper Technologies Inc. Roper Technologies Inc was Upgraded by JP Morgan to ” Neutral” on Aug 1, 2016. Shares were Reiterated by RBC Capital Mkts on Jul 26, 2016 to “Outperform” and Lowered the Price Target to $ 196 from a previous price target of $205 .Raymond James Initiated Roper Technologies Inc on Jul 20, 2016 to “Strong Buy”, Price Target of the shares are set at $206.

Roper Technologies Inc. (Roper) formerly Roper Industries Inc. is a diversified technology company. The Company operates in four segments including Medical and Scientific Imaging segment which offers products and software in medical applications and digital imaging products; RF Technology segment which provides radio frequency identification (RFID) communication technology and software solutions; Industrial Technology segment which produces fluid handling pumps materials analysis equipment and consumables leak testing equipment flow measurement and metering equipment and water meter and automatic meter reading products and systems and Energy Systems and Controls segment which produces control systems fluid properties testing equipment industrial valves and controls vibration sensors and controls and non-destructive inspection and measurement products and solutions.

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