Tyler Technologies, Inc. (TYL) Stake Boosted by First Trust Advisors LP
First Trust Advisors LP raised its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 836.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,384 shares of the technology company’s stock after purchasing an additional 36,964 shares during the period. First Trust Advisors LP owned 0.11% of Tyler Technologies worth $7,214,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Nationwide Fund Advisors grew its holdings in Tyler Technologies by 1.0% during the third quarter. Nationwide Fund Advisors now owns 370,470 shares of the technology company’s stock valued at $64,580,000 after purchasing an additional 3,589 shares during the period. Personal Capital Advisors Corp grew its holdings in Tyler Technologies by 4.9% during the third quarter. Personal Capital Advisors Corp now owns 108,971 shares of the technology company’s stock valued at $18,996,000 after purchasing an additional 5,119 shares during the period. Mutual of America Capital Management LLC grew its holdings in Tyler Technologies by 2.6% during the third quarter. Mutual of America Capital Management LLC now owns 28,257 shares of the technology company’s stock valued at $4,926,000 after purchasing an additional 723 shares during the period. Wasatch Advisors Inc. grew its holdings in Tyler Technologies by 6.2% during the second quarter. Wasatch Advisors Inc. now owns 424,479 shares of the technology company’s stock valued at $74,568,000 after purchasing an additional 24,774 shares during the period. Finally, Gofen & Glossberg LLC IL bought a new position in Tyler Technologies during the second quarter valued at $256,000. 90.79% of the stock is owned by institutional investors and hedge funds.
Shares of Tyler Technologies, Inc. (NYSE TYL) opened at $170.89 on Tuesday. Tyler Technologies, Inc. has a 12-month low of $139.61 and a 12-month high of $183.98. The stock has a market capitalization of $6,411.75, a price-to-earnings ratio of 52.35 and a beta of 0.99.
Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, October 25th. The technology company reported $1.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.03. Tyler Technologies had a return on equity of 12.81% and a net margin of 16.34%. The business had revenue of $214.15 million for the quarter, compared to the consensus estimate of $216.80 million. During the same quarter last year, the business posted $0.94 earnings per share. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. analysts expect that Tyler Technologies, Inc. will post 3.27 earnings per share for the current fiscal year.
Several equities analysts have weighed in on the company. B. Riley reissued a “buy” rating and set a $184.00 price objective on shares of Tyler Technologies in a report on Wednesday, August 2nd. BidaskClub raised Tyler Technologies from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 23rd. Zacks Investment Research raised Tyler Technologies from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Northland Securities reissued a “buy” rating and set a $200.00 price objective on shares of Tyler Technologies in a report on Thursday, September 21st. Finally, Maxim Group set a $197.00 price objective on Tyler Technologies and gave the company a “buy” rating in a report on Thursday, July 27th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $193.00.
In other Tyler Technologies news, VP Brian K. Miller sold 1,848 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $172.58, for a total transaction of $318,927.84. Following the sale, the vice president now owns 52,657 shares in the company, valued at $9,087,545.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Luther King, Jr. sold 1,500 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $176.95, for a total value of $265,425.00. Following the sale, the director now owns 72,864 shares in the company, valued at approximately $12,893,284.80. The disclosure for this sale can be found here. Insiders have sold 239,724 shares of company stock worth $41,272,357 in the last 90 days. Company insiders own 10.30% 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 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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