California Public Employees Retirement System grew its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 41.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 81,915 shares of the technology company’s stock after acquiring an additional 23,942 shares during the quarter. California Public Employees Retirement System owned about 0.21% of Tyler Technologies worth $21,503,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp bought a new position in shares of Tyler Technologies during the 2nd quarter valued at approximately $40,000. Quadrant Capital Group LLC boosted its position in shares of Tyler Technologies by 233.3% during the 3rd quarter. Quadrant Capital Group LLC now owns 220 shares of the technology company’s stock valued at $56,000 after acquiring an additional 154 shares during the last quarter. Tompkins Financial Corp boosted its position in shares of Tyler Technologies by 42.0% during the 2nd quarter. Tompkins Financial Corp now owns 291 shares of the technology company’s stock valued at $63,000 after acquiring an additional 86 shares during the last quarter. Cerebellum GP LLC boosted its position in shares of Tyler Technologies by 25.0% during the 3rd quarter. Cerebellum GP LLC now owns 250 shares of the technology company’s stock valued at $66,000 after acquiring an additional 50 shares during the last quarter. Finally, Advisory Services Network LLC boosted its position in shares of Tyler Technologies by 42.3% during the 2nd quarter. Advisory Services Network LLC now owns 313 shares of the technology company’s stock valued at $68,000 after acquiring an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.
A number of research analysts have recently commented on TYL shares. DA Davidson increased their target price on Tyler Technologies from $216.00 to $238.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. They noted that the move was a valuation call. Benchmark raised their price target on Tyler Technologies from $235.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Zacks Investment Research downgraded Tyler Technologies from a “buy” rating to a “sell” rating in a research report on Friday. JMP Securities raised their price target on Tyler Technologies from $245.00 to $286.00 and gave the stock a “market outperform” rating in a research report on Friday, September 27th. Finally, ValuEngine downgraded Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. One equities research 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’s stock. The company has an average rating of “Buy” and a consensus target price of $271.25.
Shares of TYL opened at $277.72 on Friday. The company has a market cap of $10.69 billion, a PE ratio of 74.26 and a beta of 0.86. The business has a fifty day moving average of $264.18 and a 200 day moving average of $239.65. Tyler Technologies, Inc. has a 52-week low of $173.26 and a 52-week high of $278.89. The company has a quick ratio of 1.20, a current 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.01). The company had revenue of $275.40 million during 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 firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.23 earnings per share. As a group, research analysts anticipate that Tyler Technologies, Inc. will post 4.15 earnings per share for the current fiscal year.
In other Tyler Technologies news, Director Brenda A. Cline sold 5,000 shares of the 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 sale, the director now owns 7,099 shares in the company, valued at $1,823,804.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Brian K. Miller sold 2,500 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $258.84, for a total value of $647,100.00. Following the completion of the sale, the chief financial officer now owns 49,716 shares in the company, valued at approximately $12,868,489.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,003 shares of company stock valued at $20,604,301. 4.40% of the stock is owned by corporate insiders.
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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