BlackRock Inc. raised its position in Tyler Technologies, Inc. (NYSE:TYL) by 2.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 3,888,945 shares of the technology company’s stock after acquiring an additional 83,696 shares during the period. BlackRock Inc. owned approximately 10.08% of Tyler Technologies worth $840,090,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the business. Zions Bancorporation N.A. lifted its holdings in shares of Tyler Technologies by 6.2% in the second quarter. Zions Bancorporation N.A. now owns 971 shares of the technology company’s stock valued at $210,000 after purchasing an additional 57 shares in the last quarter. Stephens Inc. AR lifted its holdings in shares of Tyler Technologies by 1.4% in the second quarter. Stephens Inc. AR now owns 4,153 shares of the technology company’s stock valued at $897,000 after purchasing an additional 58 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Tyler Technologies by 3.4% in the second quarter. Bessemer Group Inc. now owns 2,067 shares of the technology company’s stock valued at $446,000 after purchasing an additional 67 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Tyler Technologies by 1.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 7,080 shares of the technology company’s stock valued at $1,529,000 after purchasing an additional 80 shares in the last quarter. Finally, Granite Investment Partners LLC lifted its holdings in shares of Tyler Technologies by 0.4% in the second quarter. Granite Investment Partners LLC now owns 20,890 shares of the technology company’s stock valued at $4,513,000 after purchasing an additional 83 shares in the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.
Shares of Tyler Technologies stock opened at $277.72 on Friday. The business’s fifty day simple moving average is $264.18 and its 200 day simple moving average is $239.65. The firm has a market capitalization of $10.69 billion, a P/E ratio of 74.26 and a beta of 0.86. Tyler Technologies, Inc. has a 12 month low of $173.26 and a 12 month high of $278.89. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.01.
Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.35 EPS for the quarter, missing the Zacks’ consensus estimate 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 return on equity of 11.51% and a net margin of 12.63%. The business’s revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.23 earnings per share. Analysts predict that Tyler Technologies, Inc. will post 4.15 EPS for the current fiscal year.
In related news, CFO Brian K. Miller sold 2,000 shares of Tyler Technologies stock in a transaction on Friday, September 6th. The stock was sold at an average price of $261.27, for a total transaction of $522,540.00. Following the sale, the chief financial officer now directly owns 47,566 shares in the company, valued at $12,427,568.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brenda A. Cline sold 5,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $256.91, for a total value of $1,284,550.00. Following the completion of the sale, the director now directly owns 7,099 shares of the company’s stock, valued at $1,823,804.09. The disclosure for this sale can be found here. Insiders have sold 80,003 shares of company stock worth $20,604,301 over the last quarter. 4.40% of the stock is currently owned by corporate insiders.
A number of research analysts have recently weighed in on TYL shares. Oppenheimer started coverage on Tyler Technologies in a report on Monday, October 7th. They issued an “outperform” rating and a $300.00 target price on the stock. ValuEngine lowered Tyler Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. KeyCorp restated a “hold” rating on shares of Tyler Technologies in a report on Thursday, August 1st. Northland Securities restated a “buy” rating on shares of Tyler Technologies in a report on Thursday, August 1st. Finally, Zacks Investment Research lowered Tyler Technologies from a “buy” rating to a “sell” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price 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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