Capital Investment Services of America Inc. increased its position in Tyler Technologies, Inc. (NYSE:TYL) by 4.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,454 shares of the technology company’s stock after acquiring an additional 2,590 shares during the period. Tyler Technologies makes up about 2.3% of Capital Investment Services of America Inc.’s investment portfolio, making the stock its 18th biggest position. Capital Investment Services of America Inc. owned approximately 0.16% of Tyler Technologies worth $15,869,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp acquired a new stake in shares of Tyler Technologies in the 2nd quarter worth approximately $40,000. Tompkins Financial Corp lifted its stake in Tyler Technologies by 42.0% in the 2nd quarter. Tompkins Financial Corp now owns 291 shares of the technology company’s stock valued at $63,000 after buying an additional 86 shares in the last quarter. Cerebellum GP LLC lifted its stake in Tyler Technologies by 25.0% in the 3rd quarter. Cerebellum GP LLC now owns 250 shares of the technology company’s stock valued at $66,000 after buying an additional 50 shares in the last quarter. Advisory Services Network LLC lifted its stake in Tyler Technologies by 42.3% in the 2nd quarter. Advisory Services Network LLC now owns 313 shares of the technology company’s stock valued at $68,000 after buying an additional 93 shares in the last quarter. Finally, FTB Advisors Inc. lifted its stake in Tyler Technologies by 537.7% in the 2nd quarter. FTB Advisors Inc. now owns 389 shares of the technology company’s stock valued at $83,000 after buying an additional 328 shares in the last quarter. Institutional investors and hedge funds own 87.69% of the company’s stock.
A number of equities research analysts recently issued reports on the company. Benchmark upped their target price on Tyler Technologies from $235.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Oppenheimer assumed coverage on Tyler Technologies in a research note on Monday. They issued an “outperform” rating and a $300.00 target price on the stock. Northland Securities reaffirmed a “buy” rating on shares of Tyler Technologies in a research note on Thursday, August 1st. KeyCorp reaffirmed a “hold” rating on shares of Tyler Technologies in a research note on Thursday, August 1st. Finally, Zacks Investment Research raised Tyler Technologies from a “hold” rating to a “buy” rating and set a $291.00 target price on the stock in a research note on Thursday. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $265.78.
Shares of Tyler Technologies stock traded up $3.90 during trading hours on Friday, reaching $268.24. 173,167 shares of the company’s stock were exchanged, compared to its average volume of 236,893. Tyler Technologies, Inc. has a 52-week low of $173.26 and a 52-week high of $270.60. The firm has a market capitalization of $10.05 billion, a price-to-earnings ratio of 71.72 and a beta of 0.91. The company has a fifty day moving average of $258.00 and a 200-day moving average of $231.35. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.02.
Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.05. Tyler Technologies had a return on equity of 11.44% and a net margin of 12.96%. The company had revenue of $275.10 million for the quarter, compared to analyst estimates of $274.88 million. During the same quarter in the prior year, the company posted $1.18 EPS. The business’s revenue for the quarter was up 16.5% compared to the same quarter last year. On average, equities research analysts anticipate that Tyler Technologies, Inc. will post 4.19 earnings per share for the current fiscal year.
In other Tyler Technologies news, Director Daniel M. Pope sold 1,215 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $240.00, for a total transaction of $291,600.00. Following the transaction, the director now owns 2,314 shares of the company’s stock, valued at approximately $555,360. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman John S. Marr, Jr. sold 20,000 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $258.03, for a total value of $5,160,600.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 127,704 shares of company stock worth $32,713,354. Corporate insiders own 4.40% of the company’s stock.
About Tyler Technologies
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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