Ashford Capital Management Inc. lowered its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 1.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,791 shares of the technology company’s stock after selling 614 shares during the period. Tyler Technologies accounts for about 1.6% of Ashford Capital Management Inc.’s investment portfolio, making the stock its 24th largest position. Ashford Capital Management Inc. owned about 0.14% of Tyler Technologies worth $9,274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently added to or reduced their stakes in the company. YHB Investment Advisors Inc. bought a new stake in shares of Tyler Technologies during the second quarter valued at approximately $209,000. Lakeview Capital Partners LLC bought a new stake in shares of Tyler Technologies during the second quarter valued at approximately $211,000. D.A. Davidson & CO. raised its position in shares of Tyler Technologies by 13.3% during the second quarter. D.A. Davidson & CO. now owns 1,391 shares of the technology company’s stock valued at $244,000 after buying an additional 163 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Tyler Technologies by 8.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,412 shares of the technology company’s stock valued at $248,000 after buying an additional 114 shares during the last quarter. Finally, Fiduciary Trust Co. bought a new stake in shares of Tyler Technologies during the second quarter valued at approximately $250,000. Hedge funds and other institutional investors own 90.51% of the company’s stock.
Several equities research analysts have recently issued reports on the stock. B. Riley reiterated a “buy” rating and set a $184.00 price objective on shares of Tyler Technologies in a research report on Wednesday, August 2nd. KeyCorp reiterated a “buy” rating and set a $180.00 price objective on shares of Tyler Technologies in a research report on Friday, October 6th. BidaskClub upgraded shares of Tyler Technologies from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 23rd. Zacks Investment Research upgraded shares of Tyler Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Finally, Northland Securities reiterated a “buy” rating and set a $200.00 price objective on shares of Tyler Technologies in a research report on Thursday, September 21st. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Tyler Technologies currently has an average rating of “Buy” and an average price target of $192.29.
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Tyler Technologies, Inc. (NYSE TYL) traded up 0.32% on Friday, hitting $179.51. 105,689 shares of the company were exchanged. The stock’s 50-day moving average price is $172.69 and its 200-day moving average price is $169.27. The stock has a market capitalization of $6.70 billion, a P/E ratio of 53.78 and a beta of 0.93. Tyler Technologies, Inc. has a 52-week low of $139.61 and a 52-week high of $182.49.
Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, July 26th. The technology company reported $0.91 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.03). Tyler Technologies had a net margin of 14.73% and a return on equity of 13.02%. The firm had revenue of $209.12 million during the quarter, compared to analyst estimates of $210.67 million. During the same period in the prior year, the company posted $0.86 earnings per share. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities research analysts anticipate that Tyler Technologies, Inc. will post $3.86 earnings per share for the current fiscal year.
In related news, Director Donald R. Brattain sold 2,500 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $167.75, for a total value of $419,375.00. Following the completion of the transaction, the director now directly owns 15,220 shares of the company’s stock, valued at approximately $2,553,155. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Brian K. Miller sold 1,848 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $172.58, for a total value of $318,927.84. Following the completion of the transaction, the vice president now directly owns 52,657 shares of the company’s stock, valued at $9,087,545.06. The disclosure for this sale can be found here. Over the last three months, insiders sold 243,357 shares of company stock valued at $41,622,109. 10.30% of the stock is owned by corporate insiders.
Tyler Technologies 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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