Fmr LLC Cuts Stake in Tyler Technologies, Inc. (NYSE:TYL)
FMR LLC lowered its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 58.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 272,611 shares of the technology company’s stock after selling 384,671 shares during the period. FMR LLC owned approximately 0.74% of Tyler Technologies worth $42,135,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently added to or reduced their stakes in TYL. Renaissance Technologies LLC raised its stake in Tyler Technologies by 22.0% in the fourth quarter. Renaissance Technologies LLC now owns 73,700 shares of the technology company’s stock worth $10,522,000 after buying an additional 13,300 shares during the last quarter. Numeric Investors LLC purchased a new position in shares of Tyler Technologies during the fourth quarter valued at approximately $357,000. Norges Bank purchased a new position in shares of Tyler Technologies during the fourth quarter valued at approximately $52,677,000. Quadrature Capital Ltd purchased a new position in shares of Tyler Technologies during the fourth quarter valued at approximately $1,301,000. Finally, Teachers Advisors LLC raised its position in shares of Tyler Technologies by 2.9% in the fourth quarter. Teachers Advisors LLC now owns 46,469 shares of the technology company’s stock valued at $6,634,000 after buying an additional 1,305 shares in the last quarter. Institutional investors own 90.31% of the company’s stock.
Tyler Technologies, Inc. (NYSE:TYL) traded up 0.52% during midday trading on Friday, hitting $170.53. The company had a trading volume of 97,691 shares. Tyler Technologies, Inc. has a 12 month low of $139.61 and a 12 month high of $182.49. The company has a market cap of $6.36 billion, a price-to-earnings ratio of 51.09 and a beta of 0.95. The firm has a 50-day moving average price of $173.84 and a 200-day moving average price of $162.19.
Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, July 26th. The technology company reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by $0.03. The firm had revenue of $209.12 million during the quarter, compared to analyst estimates of $210.67 million. Tyler Technologies had a return on equity of 13.02% and a net margin of 14.73%. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the company earned $0.86 earnings per share. Equities analysts anticipate that Tyler Technologies, Inc. will post $3.86 EPS for the current year.
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Several equities analysts have recently commented on the company. B. Riley restated a “buy” rating and set a $184.00 price target on shares of Tyler Technologies in a research note on Sunday, May 14th. Maxim Group reaffirmed a “buy” rating and set a $197.00 price objective on shares of Tyler Technologies in a research report on Thursday, April 27th. BidaskClub downgraded Tyler Technologies from a “strong-buy” rating to a “buy” rating in a report on Monday. Finally, Zacks Investment Research downgraded Tyler Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 13th. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. Tyler Technologies has an average rating of “Buy” and a consensus target price of $187.17.
In other Tyler Technologies news, Director Larry D. Leinweber sold 36,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $171.82, for a total value of $6,185,520.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Brian K. Miller sold 1,240 shares of the company’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $174.50, for a total value of $216,380.00. Following the completion of the transaction, the vice president now directly owns 47,989 shares in the company, valued at approximately $8,374,080.50. The disclosure for this sale can be found here. Insiders sold 391,147 shares of company stock valued at $65,917,270 over the last 90 days. 10.30% of the stock is currently owned by insiders.
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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