Russell Investments Group Ltd. lowered its position in Tyler Technologies, Inc. (NYSE:TYL) by 12.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,504 shares of the technology company’s stock after selling 3,211 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.06% of Tyler Technologies worth $5,908,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in TYL. Eaton Vance Management grew its stake in Tyler Technologies by 2,217.7% in the second quarter. Eaton Vance Management now owns 232,397 shares of the technology company’s stock worth $50,202,000 after purchasing an additional 222,370 shares in the last quarter. Nuveen Asset Management LLC bought a new position in Tyler Technologies in the second quarter worth approximately $31,804,000. Teacher Retirement System of Texas grew its stake in Tyler Technologies by 253.8% in the second quarter. Teacher Retirement System of Texas now owns 185,410 shares of the technology company’s stock worth $40,052,000 after purchasing an additional 133,000 shares in the last quarter. Columbus Circle Investors bought a new position in Tyler Technologies in the third quarter worth approximately $26,569,000. Finally, Riverbridge Partners LLC grew its stake in Tyler Technologies by 26.6% in the second quarter. Riverbridge Partners LLC now owns 406,943 shares of the technology company’s stock worth $87,908,000 after purchasing an additional 85,579 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.
In other news, CFO Brian K. Miller sold 3,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $256.52, for a total transaction of $769,560.00. Following the completion of the sale, the chief financial officer now owns 50,216 shares in the company, valued at approximately $12,881,408.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider H Lynn Moore, Jr. sold 5,000 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $258.14, for a total value of $1,290,700.00. Following the sale, the insider now owns 68,672 shares of the company’s stock, valued at approximately $17,726,990.08. The disclosure for this sale can be found here. Insiders have sold a total of 71,700 shares of company stock worth $18,483,930 in the last ninety days. Insiders own 4.40% of the company’s stock.
Shares of NYSE TYL opened at $284.83 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $10.91 billion, a PE ratio of 76.16 and a beta of 0.86. The stock’s fifty day simple moving average is $266.75 and its two-hundred day simple moving average is $241.38. Tyler Technologies, Inc. has a 12-month low of $173.26 and a 12-month high of $286.74.
Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, October 30th. The technology company reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.36 by ($0.01). The company had revenue of $275.40 million for the quarter, compared to the consensus estimate of $281.03 million. Tyler Technologies had a net margin of 12.63% and a return on equity of 11.51%. The firm’s revenue was up 16.6% compared to the same quarter last year. During the same period last year, the business posted $1.23 EPS. On average, equities analysts predict that Tyler Technologies, Inc. will post 4.15 earnings per share for the current fiscal year.
TYL has been the topic of several research analyst reports. Benchmark increased their price objective on Tyler Technologies from $235.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. JMP Securities increased their target price on Tyler Technologies from $245.00 to $286.00 and gave the company a “market outperform” rating in a research report on Friday, September 27th. ValuEngine cut Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Needham & Company LLC reaffirmed a “buy” rating on shares of Tyler Technologies in a research report on Thursday, October 31st. Finally, Zacks Investment Research raised Tyler Technologies from a “sell” rating to a “hold” rating in a research report on Friday. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Tyler Technologies has an average rating of “Buy” and an average target price of $271.25.
Tyler Technologies Company 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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