New Mexico Educational Retirement Board bought a new stake in Tyler Technologies, Inc. (NYSE:TYL) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 8,600 shares of the technology company’s stock, valued at approximately $1,523,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp grew its stake in shares of Tyler Technologies by 7.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 456,309 shares of the technology company’s stock valued at $79,545,000 after buying an additional 33,100 shares during the period. Atlantic Trust Group LLC acquired a new stake in shares of Tyler Technologies in the 3rd quarter valued at about $76,095,000. Nationwide Fund Advisors grew its stake in shares of Tyler Technologies by 1.0% in the 3rd quarter. Nationwide Fund Advisors now owns 370,470 shares of the technology company’s stock valued at $64,580,000 after buying an additional 3,589 shares during the period. Eagle Asset Management Inc. grew its stake in shares of Tyler Technologies by 1.3% in the 3rd quarter. Eagle Asset Management Inc. now owns 366,900 shares of the technology company’s stock valued at $64,350,000 after buying an additional 4,706 shares during the period. Finally, WCM Investment Management CA grew its stake in shares of Tyler Technologies by 10.8% in the 4th quarter. WCM Investment Management CA now owns 292,928 shares of the technology company’s stock valued at $51,863,000 after buying an additional 28,668 shares during the period. Institutional investors own 94.30% of the company’s stock.
In related news, President H Lynn Moore, Jr. sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $177.44, for a total value of $1,064,640.00. Following the transaction, the president now owns 61,278 shares of the company’s stock, valued at approximately $10,873,168.32. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO John S. Marr, Jr. sold 17,000 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $184.93, for a total transaction of $3,143,810.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 245,007 shares of company stock worth $44,562,523. 10.30% of the stock is owned by insiders.
Several brokerages have recently commented on TYL. Maxim Group raised their target price on Tyler Technologies from $197.00 to $220.00 and gave the company a “buy” rating in a research note on Friday. Needham & Company LLC restated a “buy” rating on shares of Tyler Technologies in a research note on Tuesday, October 24th. Piper Jaffray Companies restated a “buy” rating and issued a $200.00 target price on shares of Tyler Technologies in a research note on Friday, October 27th. B. Riley restated a “neutral” rating and issued a $184.00 target price on shares of Tyler Technologies in a research note on Thursday, October 26th. Finally, Zacks Investment Research downgraded Tyler Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $200.29.
Tyler Technologies, Inc. (NYSE:TYL) opened at $205.81 on Tuesday. Tyler Technologies, Inc. has a 1 year low of $151.37 and a 1 year high of $208.26. The firm has a market cap of $7,730.00, a PE ratio of 52.91 and a beta of 1.00.
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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