IronBridge Capital Management LP decreased its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 8.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 103,880 shares of the technology company’s stock after selling 9,050 shares during the period. IronBridge Capital Management LP owned approximately 0.28% of Tyler Technologies worth $16,056,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assetmark Inc. increased its position in Tyler Technologies by 15.1% in the first quarter. Assetmark Inc. now owns 761 shares of the technology company’s stock worth $118,000 after buying an additional 100 shares in the last quarter. Massmutual Trust Co. FSB ADV bought a new position in Tyler Technologies during the fourth quarter worth $186,000. New England Research & Management Inc. bought a new position in Tyler Technologies during the first quarter worth $201,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Tyler Technologies by 32.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,298 shares of the technology company’s stock worth $201,000 after buying an additional 317 shares in the last quarter. Finally, Capital Analysts LLC increased its position in Tyler Technologies by 27.3% in the fourth quarter. Capital Analysts LLC now owns 1,470 shares of the technology company’s stock worth $210,000 after buying an additional 315 shares in the last quarter. 86.37% of the stock is owned by hedge funds and other institutional investors.
Shares of Tyler Technologies, Inc. (NYSE:TYL) traded up 1.80% during mid-day trading on Friday, hitting $169.17. 156,281 shares of the company were exchanged. The company has a market capitalization of $6.27 billion, a P/E ratio of 53.18 and a beta of 1.00. Tyler Technologies, Inc. has a 52 week low of $139.61 and a 52 week high of $175.77. The company has a 50 day moving average of $161.18 and a 200 day moving average of $153.50.
Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, April 26th. The technology company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.01. The company had revenue of $199.54 million during the quarter, compared to analyst estimates of $199.76 million. Tyler Technologies had a net margin of 11.83% and a return on equity of 13.50%. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.81 earnings per share. Equities analysts anticipate that Tyler Technologies, Inc. will post $3.88 earnings per share for the current year.
A number of research firms have recently weighed in on TYL. B. Riley reissued a “buy” rating and set a $184.00 target price on shares of Tyler Technologies in a research report on Wednesday, May 3rd. Needham & Company LLC reissued a “buy” rating and set a $185.00 target price on shares of Tyler Technologies in a research report on Thursday, February 9th. Maxim Group reissued a “buy” rating and set a $197.00 target price on shares of Tyler Technologies in a research report on Thursday, April 27th. Finally, Zacks Investment Research raised shares of Tyler Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, April 13th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $184.60.
In related news, Director Larry D. Leinweber sold 28,056 shares of the business’s stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $155.82, for a total transaction of $4,371,685.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman John M. Yeaman sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $156.00, for a total transaction of $3,120,000.00. Following the sale, the chairman now owns 335,063 shares of the company’s stock, valued at $52,269,828. The disclosure for this sale can be found here. Insiders have sold 653,315 shares of company stock valued at $103,985,957 over the last 90 days. 12.00% of the stock is currently owned by company insiders.
About Tyler Technologies
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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