Bank of America Corp DE Buys 12,443 Shares of Tyler Technologies, Inc. (NYSE:TYL)
Bank of America Corp DE raised its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 11.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 116,665 shares of the technology company’s stock after acquiring an additional 12,443 shares during the quarter. Bank of America Corp DE’s holdings in Tyler Technologies were worth $40,470,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of TYL. Vanguard Group Inc. lifted its holdings in shares of Tyler Technologies by 17.5% during the second quarter. Vanguard Group Inc. now owns 4,508,634 shares of the technology company’s stock valued at $1,563,956,000 after acquiring an additional 670,800 shares during the period. FDx Advisors Inc. lifted its holdings in shares of Tyler Technologies by 47,332.8% during the first quarter. FDx Advisors Inc. now owns 501,839 shares of the technology company’s stock valued at $904,000 after acquiring an additional 500,781 shares during the period. Capital World Investors lifted its holdings in shares of Tyler Technologies by 85.7% during the first quarter. Capital World Investors now owns 1,005,039 shares of the technology company’s stock valued at $298,054,000 after acquiring an additional 463,774 shares during the period. Alliancebernstein L.P. increased its stake in shares of Tyler Technologies by 74.7% in the first quarter. Alliancebernstein L.P. now owns 778,086 shares of the technology company’s stock valued at $230,749,000 after buying an additional 332,748 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Tyler Technologies by 666.7% in the second quarter. Victory Capital Management Inc. now owns 262,351 shares of the technology company’s stock valued at $91,004,000 after buying an additional 228,131 shares in the last quarter. 91.08% of the stock is owned by institutional investors.
In other news, Chairman John S. Marr, Jr. sold 16,000 shares of Tyler Technologies stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $347.28, for a total transaction of $5,556,480.00. Following the transaction, the chairman now owns 152,838 shares in the company, valued at approximately $53,077,580.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dustin R. Womble sold 10,000 shares of Tyler Technologies stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $338.18, for a total value of $3,381,800.00. Following the transaction, the director now owns 146,105 shares in the company, valued at approximately $49,409,788.90. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by insiders.
Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, July 29th. The technology company reported $1.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.18. The company had revenue of $271.09 million during the quarter, compared to analyst estimates of $279.40 million. Tyler Technologies had a return on equity of 10.05% and a net margin of 16.96%. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.30 EPS. On average, equities research analysts expect that Tyler Technologies, Inc. will post 4.04 EPS for the current fiscal year.
A number of analysts have recently weighed in on the company. Oppenheimer lowered Tyler Technologies from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 28th. Piper Sandler restated an “overweight” rating and issued a $423.00 target price on shares of Tyler Technologies in a research note on Monday, July 20th. Zacks Investment Research lowered Tyler Technologies from a “hold” rating to a “sell” rating and set a $342.00 target price for the company. in a research note on Monday. Royal Bank of Canada started coverage on Tyler Technologies in a research note on Thursday, June 18th. They issued an “outperform” rating and a $375.00 target price for the company. Finally, Northland Securities lifted their price objective on Tyler Technologies from $350.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. Tyler Technologies has an average rating of “Hold” and a consensus target price of $336.58.
Tyler Technologies Profile
Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. The company operates in two segments, Enterprise Software, and Appraisal and Tax. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools.
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