Summit Creek Advisors LLC lowered its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 0.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 73,134 shares of the technology company’s stock after selling 535 shares during the quarter. Tyler Technologies accounts for 2.4% of Summit Creek Advisors LLC’s portfolio, making the stock its 13th biggest position. Summit Creek Advisors LLC’s holdings in Tyler Technologies were worth $12,948,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Zions Bancorporation bought a new position in Tyler Technologies in the 3rd quarter valued at $156,000. CIBC Asset Management Inc bought a new position in Tyler Technologies in the 3rd quarter valued at $218,000. D.A. Davidson & CO. grew its stake in Tyler Technologies by 13.3% in the 2nd quarter. D.A. Davidson & CO. now owns 1,391 shares of the technology company’s stock valued at $244,000 after purchasing an additional 163 shares during the period. Bell Bank bought a new position in Tyler Technologies in the 3rd quarter valued at $254,000. Finally, Gofen & Glossberg LLC IL bought a new position in Tyler Technologies in the 2nd quarter valued at $256,000. Institutional investors and hedge funds own 91.76% of the company’s stock.
In other news, Director Luther King, Jr. sold 1,500 shares of the company’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $176.95, for a total transaction of $265,425.00. Following the transaction, the director now owns 72,864 shares of the company’s stock, valued at approximately $12,893,284.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President H Lynn Moore, Jr. sold 6,000 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $179.57, for a total value of $1,077,420.00. Following the transaction, the president now directly owns 61,278 shares in the company, valued at approximately $11,003,690.46. The disclosure for this sale can be found here. Insiders have sold a total of 352,207 shares of company stock worth $63,349,769 in the last ninety days. Insiders own 10.30% of the company’s stock.
Shares of Tyler Technologies, Inc. (NYSE TYL) traded up $0.06 during midday trading on Tuesday, hitting $187.95. The stock had a trading volume of 84,900 shares, compared to its average volume of 147,478. Tyler Technologies, Inc. has a 1 year low of $143.38 and a 1 year high of $188.65. The stock has a market cap of $7,060.93, a PE ratio of 55.12 and a beta of 0.98.
Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, October 25th. The technology company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.03. Tyler Technologies had a return on equity of 12.81% and a net margin of 16.34%. The firm had revenue of $214.15 million for the quarter, compared to analysts’ expectations of $216.80 million. During the same quarter in the prior year, the firm earned $0.94 EPS. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. equities analysts predict that Tyler Technologies, Inc. will post 3.28 earnings per share for the current year.
A number of research analysts have issued reports on TYL shares. Needham & Company LLC restated a “buy” rating on shares of Tyler Technologies in a research note on Tuesday, October 24th. Piper Jaffray Companies restated a “buy” rating and issued a $200.00 price objective on shares of Tyler Technologies in a research note on Friday, October 27th. Zacks Investment Research downgraded Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, December 2nd. B. Riley downgraded Tyler Technologies from a “buy” rating to a “neutral” rating and set a $184.00 price objective for the company. in a research note on Friday, October 27th. Finally, Citigroup started coverage on Tyler Technologies in a research note on Friday, September 22nd. They issued a “buy” rating and a $200.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $195.50.
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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