Connors Investor Services Inc. lifted its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 4.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 91,639 shares of the technology company’s stock after buying an additional 3,650 shares during the quarter. Tyler Technologies makes up about 2.5% of Connors Investor Services Inc.’s holdings, making the stock its 4th largest position. Connors Investor Services Inc. owned about 0.25% of Tyler Technologies worth $16,098,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Tyler Technologies by 16,997.6% in the 1st quarter. BlackRock Inc. now owns 2,737,663 shares of the technology company’s stock valued at $423,133,000 after purchasing an additional 2,721,651 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Tyler Technologies by 40.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,027,797 shares of the technology company’s stock valued at $180,554,000 after purchasing an additional 294,817 shares during the last quarter. Praesidium Investment Management Company LLC raised its stake in Tyler Technologies by 143.5% in the 1st quarter. Praesidium Investment Management Company LLC now owns 449,263 shares of the technology company’s stock valued at $69,438,000 after purchasing an additional 264,783 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Tyler Technologies by 42.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 756,703 shares of the technology company’s stock valued at $116,957,000 after purchasing an additional 224,642 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in Tyler Technologies by 71.8% in the 2nd quarter. Franklin Resources Inc. now owns 536,791 shares of the technology company’s stock valued at $94,299,000 after purchasing an additional 224,410 shares during the last quarter. 90.51% of the stock is owned by institutional investors and hedge funds.
Tyler Technologies, Inc. (NYSE:TYL) traded up 1.597% on Friday, hitting $173.335. 36,664 shares of the stock were exchanged. The company’s 50-day moving average is $170.29 and its 200-day moving average is $166.78. Tyler Technologies, Inc. has a 52 week low of $139.61 and a 52 week high of $182.49. The company has a market cap of $6.47 billion, a PE ratio of 51.928 and a beta of 0.95.
Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, July 26th. The technology company reported $0.91 earnings per share (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 return on equity of 13.02% and a net margin of 14.73%. The firm’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.86 earnings per share. On average, analysts predict that Tyler Technologies, Inc. will post $3.87 earnings per share for the current year.
In other news, Director Larry D. Leinweber sold 36,000 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $170.98, for a total transaction of $6,155,280.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $318,927.84. Following the sale, the vice president now directly owns 52,657 shares of the company’s stock, valued at $9,087,545.06. The disclosure for this sale can be found here. Over the last three months, insiders sold 279,357 shares of company stock valued at $47,777,389. Company insiders own 10.30% of the company’s stock.
TYL has been the subject of several analyst reports. Piper Jaffray Companies reissued a “buy” rating and issued a $200.00 target price on shares of Tyler Technologies in a research note on Sunday, August 27th. Zacks Investment Research raised shares of Tyler Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Maxim Group set a $197.00 target price on shares of Tyler Technologies and gave the company a “buy” rating in a research note on Monday, July 17th. BidaskClub raised shares of Tyler Technologies from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 23rd. Finally, Citigroup Inc. initiated coverage on shares of Tyler Technologies in a research note on Friday. They issued a “buy” rating and a $200.00 target price for the company. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Tyler Technologies has a consensus rating of “Buy” and a consensus target price of $195.29.
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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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