Advisor Group Inc. Grows Holdings in Tyler Technologies, Inc. (TYL)
Advisor Group Inc. boosted its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 27.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,517 shares of the technology company’s stock after purchasing an additional 327 shares during the quarter. Advisor Group Inc.’s holdings in Tyler Technologies were worth $267,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TYL. UBS Asset Management Americas Inc. increased its holdings in Tyler Technologies by 25.5% during the 1st quarter. UBS Asset Management Americas Inc. now owns 21,297 shares of the technology company’s stock worth $3,292,000 after purchasing an additional 4,329 shares during the period. Prudential Financial Inc. increased its holdings in Tyler Technologies by 17.9% during the 1st quarter. Prudential Financial Inc. now owns 23,193 shares of the technology company’s stock worth $3,585,000 after purchasing an additional 3,523 shares during the period. Stifel Financial Corp increased its holdings in Tyler Technologies by 10.9% during the 1st quarter. Stifel Financial Corp now owns 7,158 shares of the technology company’s stock worth $1,106,000 after purchasing an additional 701 shares during the period. Victory Capital Management Inc. increased its holdings in Tyler Technologies by 118.4% during the 1st quarter. Victory Capital Management Inc. now owns 8,425 shares of the technology company’s stock worth $1,302,000 after purchasing an additional 4,567 shares during the period. Finally, Credit Agricole S A purchased a new position in Tyler Technologies during the 1st quarter worth $1,000,000. Institutional investors own 90.51% of the company’s stock.
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Tyler Technologies, Inc. (TYL) opened at 179.51 on Friday. The stock has a 50 day moving average price of $172.69 and a 200-day moving average price of $169.27. Tyler Technologies, Inc. has a one year low of $139.61 and a one year high of $182.49. 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 (NYSE:TYL) last posted its earnings results on Wednesday, July 26th. The technology company reported $0.91 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.03). The business had revenue of $209.12 million during the quarter, compared to analysts’ expectations of $210.67 million. Tyler Technologies had a net margin of 14.73% and a return on equity of 13.02%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the company earned $0.86 EPS. Analysts anticipate that Tyler Technologies, Inc. will post $3.86 earnings per share for the current year.
In related news, VP Brian K. Miller sold 4,500 shares of the stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $172.89, for a total value of $778,005.00. Following the transaction, the vice president now owns 55,194 shares of the company’s stock, valued at $9,542,490.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Donald R. Brattain sold 2,500 shares of the stock in a transaction on Wednesday, August 9th. The shares were 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 in the company, valued at approximately $2,553,155. The disclosure for this sale can be found here. Insiders sold 243,357 shares of company stock worth $41,622,109 in the last three months. 10.30% of the stock is currently owned by corporate insiders.
TYL has been the topic of several research reports. B. Riley restated a “buy” rating and set a $184.00 price objective on shares of Tyler Technologies in a report on Wednesday, August 2nd. KeyCorp reiterated a “buy” rating and issued a $180.00 price target on shares of Tyler Technologies in a report on Friday, October 6th. Citigroup Inc. assumed coverage on Tyler Technologies in a report on Friday, September 22nd. They issued a “buy” rating and a $200.00 price target on the stock. Northland Securities reiterated a “buy” rating and issued a $200.00 price target on shares of Tyler Technologies in a report on Thursday, September 21st. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $200.00 price target on shares of Tyler Technologies in a report on Sunday, August 27th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $192.29.
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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