Nordea Investment Management AB Has $1.99 Million Stake in Tyler Technologies, Inc. (TYL)
Nordea Investment Management AB grew its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 15.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,318 shares of the technology company’s stock after purchasing an additional 1,477 shares during the quarter. Nordea Investment Management AB’s holdings in Tyler Technologies were worth $1,988,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in TYL. YHB Investment Advisors Inc. purchased a new position in shares of Tyler Technologies in the second quarter worth $209,000. Lakeview Capital Partners LLC bought a new stake in Tyler Technologies during the 2nd quarter valued at $211,000. D.A. Davidson & CO. raised its holdings in Tyler Technologies by 13.3% during the 2nd 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 holdings in Tyler Technologies by 8.8% during the 2nd 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 Tyler Technologies during the 2nd quarter valued at $250,000. 90.51% of the stock is owned by hedge funds and other institutional investors.
In other Tyler Technologies news, VP Brian K. Miller sold 9,760 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $169.01, for a total value of $1,649,537.60. Following the completion of the sale, the vice president now directly owns 53,194 shares of the company’s stock, valued at approximately $8,990,317.94. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President H Lynn Moore, Jr. sold 12,000 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $170.13, for a total transaction of $2,041,560.00. Following the completion of the sale, the president now directly owns 67,257 shares of the company’s stock, valued at $11,442,433.41. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 243,357 shares of company stock worth $41,622,109. Company insiders own 10.30% of the company’s stock.
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Tyler Technologies, Inc. (NYSE:TYL) opened at 175.06 on Wednesday. The company has a market capitalization of $6.53 billion, a P/E ratio of 52.44 and a beta of 0.93. The company has a 50-day moving average of $171.05 and a 200-day moving average of $168.05. Tyler Technologies, Inc. has a 1-year low of $139.61 and a 1-year high of $182.49.
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 the consensus estimate of $0.94 by ($0.03). The business had revenue of $209.12 million for the quarter, compared to the consensus estimate of $210.67 million. Tyler Technologies had a return on equity of 13.02% and a net margin of 14.73%. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 earnings per share. Equities analysts expect that Tyler Technologies, Inc. will post $3.86 EPS for the current fiscal year.
A number of equities analysts have issued reports on TYL shares. Piper Jaffray Companies restated a “buy” rating and issued a $200.00 price objective on shares of Tyler Technologies in a research report on Sunday, August 27th. Zacks Investment Research upgraded shares of Tyler Technologies from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Maxim Group set a $197.00 target price on shares of Tyler Technologies and gave the stock a “buy” rating in a report on Monday, July 17th. Citigroup Inc. assumed coverage on Tyler Technologies in a research note on Friday, September 22nd. They issued a “buy” rating and a $200.00 target price on the stock. Finally, Northland Securities restated a “buy” rating and set a $200.00 price target on shares of Tyler Technologies in a report on Thursday, September 21st. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $195.29.
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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