What Makes Roper Technologies (ROP) a Strong Business?

Wasatch Global Investors, an asset management company, released its “Wasatch U.S. Select Strategy” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy outperformed the benchmark Russell 3000 Growth Index which rose 2.32%. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Wasatch U.S. Select Strategy highlighted stocks like Roper Technologies, Inc. (NYSE:ROP) in the Q4 2022 investor letter. Headquartered in Sarasota, Florida, Roper Technologies, Inc. (NYSE:ROP) is a technology company. On March 29, 2023, Roper Technologies, Inc. (NYSE:ROP) stock closed at $434.34 per share. One-month return of Roper Technologies, Inc. (NYSE:ROP) was 1.80%, and its shares lost 8.02% of their value over the last 52 weeks. Roper Technologies, Inc. (NYSE:ROP) has a market capitalization of $46.396 billion.

Wasatch U.S. Select Strategy made the following comment about Roper Technologies, Inc. (NYSE:ROP) in its Q4 2022 investor letter:

“Roper Technologies, Inc. (NYSE:ROP) was another large contributor. The stock was up after the company released strong third-quarter financial results, including revenue and earnings growth that exceeded consensus expectations. Roper develops software and other engineered products for a variety of niche markets and industries. The company owns 26 independent businesses, most of which enjoy strong barriers to entry and leadership positions in their respective markets. The management team has done an exceptional job, in our view, of improving the operating performance and free cash flow generation of the businesses in its portfolio, then deploying that cash into acquiring new businesses that fit a similar profile. Roper’s ability to put up strong results in what’s been a challenging operating environment for many businesses speaks to the durability of the business.”

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Roper Technologies, Inc. (NYSE:ROP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 41 hedge fund portfolios held Roper Technologies, Inc. (NYSE:ROP) at the end of the fourth quarter which was 44 in the previous quarter.

We discussed Roper Technologies, Inc. (NYSE:ROP) in another article and shared the list of biggest SaaS companies in the world. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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