Elkfork Partners LLC Takes Position in Tyler Technologies, Inc. (TYL)
Elkfork Partners LLC bought a new stake in shares of Tyler Technologies, Inc. (NYSE:TYL) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,560 shares of the company’s stock, valued at approximately $1,508,000.
A number of other hedge funds have also modified their holdings of TYL. Creative Planning increased its stake in shares of Tyler Technologies by 5.1% in the third quarter. Creative Planning now owns 683 shares of the company’s stock valued at $117,000 after buying an additional 33 shares during the period. YHB Investment Advisors Inc. purchased a new stake in Tyler Technologies during the third quarter worth about $204,000. Parametrica Management Ltd purchased a new stake in Tyler Technologies during the third quarter worth about $206,000. Oakbrook Investments LLC purchased a new stake in Tyler Technologies during the third quarter worth about $231,000. Finally, Parkwood LLC increased its stake in Tyler Technologies by 6.1% in the third quarter. Parkwood LLC now owns 1,460 shares of the company’s stock worth $250,000 after buying an additional 84 shares during the last quarter. 86.37% of the stock is currently owned by institutional investors.
Shares of Tyler Technologies, Inc. (NYSE:TYL) traded up 0.13% during trading on Friday, hitting $153.94. The stock had a trading volume of 133,769 shares. The firm’s 50-day moving average is $149.34 and its 200 day moving average is $157.62. The firm has a market cap of $5.64 billion, a price-to-earnings ratio of 54.59 and a beta of 1.00. Tyler Technologies, Inc. has a 52-week low of $118.16 and a 52-week high of $175.77.
Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, February 8th. The company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.02. Tyler Technologies had a return on equity of 13.50% and a net margin of 11.83%. The firm had revenue of $195.10 million for the quarter, compared to the consensus estimate of $197.78 million. During the same quarter in the prior year, the business earned $0.59 earnings per share. The company’s revenue was up 21.6% compared to the same quarter last year. On average, analysts expect that Tyler Technologies, Inc. will post $3.88 EPS for the current year.
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A number of research firms have issued reports on TYL. B. Riley reaffirmed a “buy” rating and issued a $184.00 price objective on shares of Tyler Technologies in a research note on Wednesday. Maxim Group reduced their price objective on Tyler Technologies from $210.00 to $197.00 and set a “buy” rating on the stock in a research note on Thursday, February 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $185.00 price objective on shares of Tyler Technologies in a research note on Thursday, February 9th. Finally, Pacific Crest reaffirmed a “buy” rating on shares of Tyler Technologies in a research note on Sunday, October 30th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $177.83.
In other news, CFO Brian K. Miller sold 5,984 shares of the company’s stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $155.51, for a total value of $930,571.84. Following the sale, the chief financial officer now owns 53,775 shares in the company, valued at $8,362,550.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dustin R. Womble sold 30,000 shares of the company’s stock in a transaction dated Monday, December 12th. The stock was sold at an average price of $146.29, for a total value of $4,388,700.00. Following the completion of the sale, the director now owns 245,950 shares in the company, valued at approximately $35,980,025.50. The disclosure for this sale can be found here. Insiders sold 251,239 shares of company stock worth $37,835,861 in the last 90 days. Company insiders own 12.00% 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 provides professional information technology (IT) services to its clients, including software and hardware installation, data conversion, training and product modifications.
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