US Bancorp DE trimmed its stake in Tyler Technologies, Inc. (NYSE:TYL) by 11.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,185 shares of the technology company’s stock after selling 4,629 shares during the quarter. US Bancorp DE owned approximately 0.09% of Tyler Technologies worth $8,867,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Principal Financial Group Inc. grew its holdings in Tyler Technologies by 3.6% during the 1st quarter. Principal Financial Group Inc. now owns 154,100 shares of the technology company’s stock worth $32,509,000 after acquiring an additional 5,403 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in Tyler Technologies by 41.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 4,570 shares of the technology company’s stock worth $1,014,000 after acquiring an additional 1,350 shares in the last quarter. Bank of Montreal Can acquired a new position in Tyler Technologies during the 2nd quarter worth approximately $5,572,000. Welch & Forbes LLC acquired a new position in Tyler Technologies during the 2nd quarter worth approximately $222,000. Finally, Retirement Systems of Alabama grew its holdings in Tyler Technologies by 1.0% during the 2nd quarter. Retirement Systems of Alabama now owns 51,108 shares of the technology company’s stock worth $11,351,000 after acquiring an additional 522 shares in the last quarter. Hedge funds and other institutional investors own 92.11% of the company’s stock.
In related news, Director Glenn A. Carter sold 1,225 shares of the company’s stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $242.40, for a total value of $296,940.00. Following the completion of the sale, the director now owns 1,725 shares in the company, valued at approximately $418,140. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Luther King, Jr. sold 275 shares of the company’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $193.29, for a total transaction of $53,154.75. Following the completion of the sale, the director now owns 72,864 shares of the company’s stock, valued at approximately $14,083,882.56. The disclosure for this sale can be found here. Insiders have sold a total of 133,672 shares of company stock valued at $32,288,099 in the last 90 days. Insiders own 4.70% of the company’s stock.
Several research firms have commented on TYL. Zacks Investment Research cut shares of Tyler Technologies from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. TheStreet cut shares of Tyler Technologies from a “b” rating to a “c+” rating in a report on Thursday, November 1st. KeyCorp reiterated a “hold” rating on shares of Tyler Technologies in a report on Friday, November 2nd. Robert W. Baird reduced their price objective on shares of Tyler Technologies from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, November 2nd. Finally, B. Riley boosted their price objective on shares of Tyler Technologies from $200.00 to $206.00 and gave the stock a “neutral” rating in a research report on Monday, July 30th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Tyler Technologies has an average rating of “Buy” and an average price target of $233.36.
Shares of NYSE:TYL opened at $188.48 on Friday. The company has a market cap of $7.28 billion, a PE ratio of 59.27, a P/E/G ratio of 4.97 and a beta of 0.92. Tyler Technologies, Inc. has a twelve month low of $168.48 and a twelve month high of $252.47.
Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, October 31st. The technology company reported $1.23 earnings per share for the quarter, hitting the consensus estimate of $1.23. The business had revenue of $236.10 million during the quarter, compared to the consensus estimate of $240.98 million. Tyler Technologies had a net margin of 19.47% and a return on equity of 11.19%. The company’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.05 EPS. As a group, research analysts expect that Tyler Technologies, Inc. will post 3.77 earnings per share for the current fiscal year.
Tyler Technologies Profile
Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. It operates through two segments, Enterprise Software, and Appraisal and Tax. The company's financial management solutions include modular fund accounting systems for government agencies or not-for-profit entities; and utility billing systems for the billing and collection of metered and non-metered services.
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