UBS Asset Management Americas Inc. boosted its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 9.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,780 shares of the technology company’s stock after purchasing an additional 2,542 shares during the quarter. UBS Asset Management Americas Inc. owned 0.08% of Tyler Technologies worth $5,450,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Tyler Technologies by 1.6% during the 4th quarter. BlackRock Inc. now owns 2,915,372 shares of the technology company’s stock valued at $516,165,000 after purchasing an additional 46,298 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Tyler Technologies by 7.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 456,309 shares of the technology company’s stock valued at $79,545,000 after purchasing an additional 33,100 shares during the last quarter. Atlantic Trust Group LLC acquired a new position in Tyler Technologies during the 3rd quarter valued at $76,095,000. Eagle Asset Management Inc. raised its stake in Tyler Technologies by 9.0% during the 4th quarter. Eagle Asset Management Inc. now owns 399,953 shares of the technology company’s stock valued at $71,233,000 after purchasing an additional 33,053 shares during the last quarter. Finally, Nationwide Fund Advisors raised its stake in Tyler Technologies by 1.0% during the 3rd quarter. Nationwide Fund Advisors now owns 370,470 shares of the technology company’s stock valued at $64,580,000 after purchasing an additional 3,589 shares during the last quarter. Hedge funds and other institutional investors own 94.47% of the company’s stock.
Several equities analysts recently commented on TYL shares. Zacks Investment Research cut shares of Tyler Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Piper Jaffray Companies reissued an “overweight” rating and issued a $220.00 price target on shares of Tyler Technologies in a report on Tuesday, January 16th. Maxim Group set a $220.00 price target on shares of Tyler Technologies and gave the company a “buy” rating in a report on Thursday, February 22nd. Evercore ISI reissued a “buy” rating and issued a $210.00 price target on shares of Tyler Technologies in a report on Friday, February 23rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $235.00 price target on shares of Tyler Technologies in a report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $203.70.
Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, February 21st. The technology company reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.03. The business had revenue of $217.85 million for the quarter, compared to analyst estimates of $220.56 million. Tyler Technologies had a net margin of 19.50% and a return on equity of 12.49%. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.90 EPS. equities analysts predict that Tyler Technologies, Inc. will post 3.87 earnings per share for the current year.
In related news, CFO Brian K. Miller sold 12,000 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $179.75, for a total transaction of $2,157,000.00. Following the transaction, the chief financial officer now owns 56,694 shares in the company, valued at approximately $10,190,746.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Larry D. Leinweber sold 22,217 shares of the company’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $182.14, for a total transaction of $4,046,604.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 199,411 shares of company stock worth $38,560,208. 10.30% of the stock is owned by corporate insiders.
Tyler Technologies 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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