STA Wealth Management LLC bought a new position in shares of Tyler Technologies, Inc. (NYSE:TYL) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,078 shares of the technology company’s stock, valued at approximately $899,000.
Several other institutional investors and hedge funds have also made changes to their positions in TYL. Atlantic Trust Group LLC acquired a new stake in Tyler Technologies in the third quarter valued at about $76,095,000. Carillon Tower Advisers Inc. acquired a new stake in Tyler Technologies in the fourth quarter valued at about $57,036,000. Franklin Resources Inc. lifted its position in Tyler Technologies by 35.6% in the fourth quarter. Franklin Resources Inc. now owns 796,423 shares of the technology company’s stock valued at $141,009,000 after purchasing an additional 209,004 shares during the period. Victory Capital Management Inc. lifted its position in Tyler Technologies by 221.0% in the fourth quarter. Victory Capital Management Inc. now owns 291,743 shares of the technology company’s stock valued at $51,653,000 after purchasing an additional 200,871 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in Tyler Technologies by 59.2% in the third quarter. Ameriprise Financial Inc. now owns 217,718 shares of the technology company’s stock valued at $37,952,000 after purchasing an additional 80,992 shares during the period. Institutional investors and hedge funds own 94.47% of the company’s stock.
TYL stock traded up $0.08 during mid-day trading on Wednesday, hitting $212.48. 202,633 shares of the stock were exchanged, compared to its average volume of 220,461. Tyler Technologies, Inc. has a 52 week low of $152.00 and a 52 week high of $214.33. The firm has a market cap of $7,884.92, a P/E ratio of 50.95 and a beta of 0.97.
Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, February 21st. The technology company reported $1.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.03. Tyler Technologies had a net margin of 19.50% and a return on equity of 12.49%. The business had revenue of $217.85 million during the quarter, compared to analysts’ expectations of $220.56 million. During the same period last year, the company posted $0.90 EPS. The company’s revenue was up 12.7% on a year-over-year basis. analysts anticipate that Tyler Technologies, Inc. will post 3.87 earnings per share for the current year.
In other news, CEO John S. Marr, Jr. sold 41,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $209.05, for a total transaction of $8,571,050.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Luther King, Jr. sold 23,350 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $202.47, for a total transaction of $4,727,674.50. Following the transaction, the director now directly owns 72,864 shares of the company’s stock, valued at $14,752,774.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 114,582 shares of company stock valued at $23,816,504. Corporate insiders own 10.30% of the company’s stock.
A number of equities research analysts recently commented on TYL shares. DA Davidson started coverage on shares of Tyler Technologies in a research report on Wednesday, March 7th. They issued a “neutral” rating and a $190.00 price objective for the company. Zacks Investment Research downgraded shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, December 2nd. Maxim Group set a $220.00 price target on shares of Tyler Technologies and gave the company a “buy” rating in a research report on Thursday, February 22nd. Needham & Company LLC reiterated a “buy” rating and set a $235.00 price target on shares of Tyler Technologies in a research report on Friday, February 23rd. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $220.00 price target on shares of Tyler Technologies in a research report on Tuesday, January 16th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Tyler Technologies has an average rating of “Buy” and an average target price of $210.18.
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Tyler Technologies Company Profile
Tyler Technologies, Inc is a provider of information management solutions and services for the public sector, with a focus on local governments. The Company operates through two segments: Enterprise Software (ES) segment and The Appraisal and Tax (A&T) segment. ES segment provides municipal and county governments and schools with software systems and services for information technology and automation needs that includes back-office functions, such as financial management, courts and justice processes, public safety, planning regulatory and maintenance, and land and vital records management.
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