First Manhattan Co. held its position in shares of Tyler Technologies, Inc. (NYSE:TYL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 816 shares of the technology company’s stock at the end of the second quarter. First Manhattan Co.’s holdings in Tyler Technologies were worth $143,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in TYL. Granite Investment Partners LLC bought a new position in shares of Tyler Technologies during the first quarter valued at $2,884,000. Glen Harbor Capital Management LLC raised its position in shares of Tyler Technologies by 1.3% in the first quarter. Glen Harbor Capital Management LLC now owns 16,524 shares of the technology company’s stock valued at $2,554,000 after buying an additional 204 shares in the last quarter. Profund Advisors LLC raised its position in shares of Tyler Technologies by 5.8% in the first quarter. Profund Advisors LLC now owns 4,716 shares of the technology company’s stock valued at $729,000 after buying an additional 259 shares in the last quarter. Personal Capital Advisors Corp raised its position in shares of Tyler Technologies by 13.9% in the first quarter. Personal Capital Advisors Corp now owns 97,470 shares of the technology company’s stock valued at $15,107,000 after buying an additional 11,862 shares in the last quarter. Finally, NBW Capital LLC raised its position in shares of Tyler Technologies by 27.9% in the first quarter. NBW Capital LLC now owns 33,380 shares of the technology company’s stock valued at $5,159,000 after buying an additional 7,278 shares in the last quarter. 89.77% of the stock is owned by institutional investors.
Tyler Technologies, Inc. (NYSE:TYL) opened at 169.53 on Friday. The stock has a 50 day moving average of $173.53 and a 200 day moving average of $163.05. Tyler Technologies, Inc. has a 12-month low of $139.61 and a 12-month high of $182.49. The firm has a market capitalization of $6.32 billion, a price-to-earnings ratio of 50.79 and a beta of 0.95.
Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.91 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by $0.03. The business had revenue of $209.12 million during the quarter, compared to the consensus estimate of $210.67 million. Tyler Technologies had a net margin of 14.73% and a return on equity of 13.02%. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the firm earned $0.86 EPS. Equities research analysts anticipate that Tyler Technologies, Inc. will post $3.87 earnings per share for the current year.
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Several research firms have recently commented on TYL. Maxim Group set a $197.00 price target on shares of Tyler Technologies and gave the company a “buy” rating in a report on Thursday, July 27th. Zacks Investment Research raised shares of Tyler Technologies from a “hold” rating to a “strong-buy” rating and set a $201.00 price target for the company in a report on Thursday, June 29th. BidaskClub lowered shares of Tyler Technologies from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, B. Riley reaffirmed a “buy” rating and issued a $184.00 price target on shares of Tyler Technologies in a report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $187.17.
In other Tyler Technologies news, CFO Brian K. Miller sold 13,000 shares of the business’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $169.43, for a total value of $2,202,590.00. Following the sale, the chief financial officer now owns 55,044 shares of the company’s stock, valued at approximately $9,326,104.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John S. Marr, Jr. sold 23,960 shares of the business’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $167.69, for a total transaction of $4,017,852.40. Following the completion of the sale, 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 sold a total of 237,253 shares of company stock worth $40,508,996 in the last three months. Insiders own 10.30% of the company’s stock.
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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