Is it a Good Choice to Invest in Roper Technologies (ROP)?

Weitz Investment Management, an investment management firm, published its “Partners III Opportunity Fund” second quarter 2022 investor letter – a copy of which can be downloaded here. The Partners III Opportunity Fund’s Institutional Class returned -13.84% in the second quarter, compared to -16.10% for the S&P 500 and -16.70% for the Russell 3000. Year-to-date, the Fund’s Institutional Class returned -18.22% compared to -19.96% for the S&P 500 and -21.10% for the Russell 3000. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.

In its Q2 2022 investor letter, Weitz Investment Partners III Opportunity Fund mentioned Roper Technologies, Inc. (NYSE:ROP) and explained its insights for the company. Founded in 1890, Roper Technologies, Inc. (NYSE:ROP) is a Sarasota, Florida-based system software company with a $44.1 billion market capitalization. Roper Technologies, Inc. (NYSE:ROP) delivered a -15.27% return since the beginning of the year, while its 12-month returns are down by -13.08%. The stock closed at $416.73 per share on August 23, 2022.

Here is what Weitz Investment Partners III Opportunity Fund has to say about Roper Technologies, Inc. (NYSE:ROP) in its Q2 2022 investor letter:

“Consistent with that approach, portfolio activity among our long holdings tilted toward purchases. We added to almost half our holdings by varying degrees, and we were pleased to initiate new positions in Roper Technologies (NYSE:ROP) at attractive prices. Originally an industrial equipment manufacturer, Roper has successfully evolved into a provider of software and technology services. (Investors can find an in-depth discussion of our Roper Technologies investment thesis in colleague Barton Hooper’s November 2021 “Analyst Corner” feature.) The business generate significant free cash flow, possess strong competitive positions, and have excellent management teams with demonstrated acquisition records.”

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Our calculations show that Roper Technologies, Inc. (NYSE:ROP) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Roper Technologies, Inc. (NYSE:ROP) was in 38 hedge fund portfolios at the end of the second quarter of 2022, compared to 41 funds in the previous quarter. Roper Technologies, Inc. (NYSE:ROP) delivered a -2.40% return in the past 3 months.

In May 2022, we also shared another hedge fund’s views on Roper Technologies, Inc. (NYSE:ROP) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.

Disclosure: None. This article is originally published at Insider Monkey.