Ranger Investment Management L.P. cut its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 71.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,130 shares of the technology company’s stock after selling 12,770 shares during the period. Ranger Investment Management L.P.’s holdings in Tyler Technologies were worth $793,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Comerica Bank raised its position in shares of Tyler Technologies by 6.9% in the fourth quarter. Comerica Bank now owns 25,362 shares of the technology company’s stock worth $3,838,000 after buying an additional 1,646 shares in the last quarter. Granite Investment Partners LLC bought a new position in shares of Tyler Technologies during the first quarter worth $2,884,000. Norges Bank bought a new position in shares of Tyler Technologies during the fourth quarter worth $52,677,000. Sei Investments Co. raised its position in shares of Tyler Technologies by 19.7% in the first quarter. Sei Investments Co. now owns 71,165 shares of the technology company’s stock worth $10,999,000 after buying an additional 11,708 shares in the last quarter. Finally, Denver Investment Advisors LLC bought a new position in shares of Tyler Technologies during the fourth quarter worth $647,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.
Tyler Technologies, Inc. (NYSE:TYL) traded up 1.37% during mid-day trading on Thursday, hitting $174.00. 254,586 shares of the stock traded hands. The stock’s 50 day moving average is $169.03 and its 200-day moving average is $156.25. The company has a market cap of $6.45 billion, a price-to-earnings ratio of 54.70 and a beta of 0.97. Tyler Technologies, Inc. has a 12 month low of $139.61 and a 12 month high of $175.77.
Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data 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 business had revenue of $199.54 million for the quarter, compared to the consensus estimate of $199.76 million. Tyler Technologies had a net margin of 13.48% and a return on equity of 13.12%. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.81 earnings per share. On average, equities research analysts anticipate that Tyler Technologies, Inc. will post $3.88 EPS for the current year.
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A number of research analysts recently weighed in on TYL shares. Zacks Investment Research raised shares of Tyler Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, April 13th. B. Riley reissued a “buy” rating and issued a $184.00 target price on shares of Tyler Technologies in a research note on Sunday, May 14th. Finally, Maxim Group reissued a “buy” rating and issued a $197.00 target price on shares of Tyler Technologies in a research note on Thursday, April 27th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Tyler Technologies has an average rating of “Buy” and a consensus price target of $184.60.
In other Tyler Technologies news, CFO Brian K. Miller sold 13,000 shares of the stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $169.43, for a total transaction of $2,202,590.00. Following the transaction, the chief financial officer now owns 55,044 shares of the company’s stock, valued at $9,326,104.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO John S. Marr, Jr. sold 23,960 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $167.69, for a total transaction of $4,017,852.40. Following the transaction, the chief executive officer now directly owns 355,437 shares in the company, valued at approximately $59,603,230.53. The disclosure for this sale can be found here. Insiders have sold 391,147 shares of company stock worth $65,052,065 in the last three months. Insiders own 10.30% of the company’s stock.
Tyler Technologies Company Profile
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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