BlackRock Inc. grew its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 2.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 3,888,945 shares of the technology company’s stock after acquiring an additional 83,696 shares during the quarter. BlackRock Inc. owned approximately 0.10% of Tyler Technologies worth $840,090,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. Zions Bancorporation N.A. lifted its stake in Tyler Technologies by 6.2% during the second quarter. Zions Bancorporation N.A. now owns 971 shares of the technology company’s stock worth $210,000 after purchasing an additional 57 shares during the last quarter. Stephens Inc. AR lifted its stake in Tyler Technologies by 1.4% during the second quarter. Stephens Inc. AR now owns 4,153 shares of the technology company’s stock worth $897,000 after purchasing an additional 58 shares during the last quarter. Bessemer Group Inc. lifted its stake in Tyler Technologies by 3.4% during the second quarter. Bessemer Group Inc. now owns 2,067 shares of the technology company’s stock worth $446,000 after purchasing an additional 67 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in Tyler Technologies by 1.1% during the second quarter. Municipal Employees Retirement System of Michigan now owns 7,080 shares of the technology company’s stock worth $1,529,000 after purchasing an additional 80 shares during the last quarter. Finally, Granite Investment Partners LLC lifted its stake in Tyler Technologies by 0.4% during the second quarter. Granite Investment Partners LLC now owns 20,890 shares of the technology company’s stock worth $4,513,000 after purchasing an additional 83 shares during the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.
In other Tyler Technologies news, CFO Brian K. Miller sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $258.84, for a total transaction of $647,100.00. Following the completion of the transaction, the chief financial officer now owns 49,716 shares of the company’s stock, valued at approximately $12,868,489.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian K. Miller sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $261.27, for a total value of $522,540.00. Following the transaction, the chief financial officer now directly owns 47,566 shares of the company’s stock, valued at approximately $12,427,568.82. The disclosure for this sale can be found here. Insiders have sold a total of 80,003 shares of company stock valued at $20,604,301 in the last ninety days. 4.40% of the stock is currently owned by corporate insiders.
TYL opened at $277.72 on Friday. The business has a 50 day simple moving average of $264.18 and a two-hundred day simple moving average of $239.65. The firm has a market capitalization of $10.69 billion, a price-to-earnings ratio of 74.26 and a beta of 0.86. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.20 and a quick ratio of 1.20. Tyler Technologies, Inc. has a one year low of $173.26 and a one year high of $278.89.
Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.01). The business had revenue of $275.40 million for the quarter, compared to the consensus estimate of $281.03 million. Tyler Technologies had a net margin of 12.63% and a return on equity of 11.51%. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.23 EPS. As a group, sell-side analysts expect that Tyler Technologies, Inc. will post 4.15 EPS for the current fiscal year.
Several equities research analysts have issued reports on TYL shares. Oppenheimer began coverage on Tyler Technologies in a research note on Monday, October 7th. They set an “outperform” rating and a $300.00 price target for the company. Needham & Company LLC reissued a “buy” rating on shares of Tyler Technologies in a research note on Thursday, October 31st. JMP Securities boosted their target price on Tyler Technologies from $245.00 to $286.00 and gave the company a “market outperform” rating in a research note on Friday, September 27th. Zacks Investment Research lowered Tyler Technologies from a “buy” rating to a “sell” rating in a research note on Friday. Finally, KeyCorp reissued a “hold” rating on shares of Tyler Technologies in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $271.25.
Tyler Technologies Company Profile
Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. The company operates in two segments, Enterprise Software, and Appraisal and Tax. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools.
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