Garrison Point Advisors LLC acquired a new position in Tyler Technologies, Inc. (NYSE:TYL) during the fourth quarter, Holdings Channel.com reports. The firm acquired 711 shares of the technology company’s stock, valued at approximately $213,000.
A number of other large investors have also recently bought and sold shares of TYL. Millennium Management LLC increased its stake in shares of Tyler Technologies by 949.2% in the third quarter. Millennium Management LLC now owns 112,385 shares of the technology company’s stock worth $29,501,000 after buying an additional 101,673 shares during the last quarter. GW&K Investment Management LLC increased its holdings in shares of Tyler Technologies by 14.3% in the 3rd quarter. GW&K Investment Management LLC now owns 108,882 shares of the technology company’s stock valued at $28,581,000 after acquiring an additional 13,639 shares during the last quarter. BBVA USA Bancshares Inc. raised its position in shares of Tyler Technologies by 35.8% during the 3rd quarter. BBVA USA Bancshares Inc. now owns 3,673 shares of the technology company’s stock valued at $965,000 after acquiring an additional 968 shares in the last quarter. BlackRock Inc. raised its position in shares of Tyler Technologies by 2.2% during the 2nd quarter. BlackRock Inc. now owns 3,888,945 shares of the technology company’s stock valued at $840,090,000 after acquiring an additional 83,696 shares in the last quarter. Finally, BB&T Securities LLC lifted its stake in Tyler Technologies by 1.5% during the third quarter. BB&T Securities LLC now owns 3,079 shares of the technology company’s stock worth $815,000 after purchasing an additional 46 shares during the last quarter. 88.89% of the stock is owned by institutional investors.
Several research firms have weighed in on TYL. Needham & Company LLC reiterated a “buy” rating on shares of Tyler Technologies in a research note on Thursday, October 31st. Oppenheimer initiated coverage on shares of Tyler Technologies in a report on Monday, October 7th. They set an “outperform” rating and a $300.00 target price on the stock. Northcoast Research downgraded shares of Tyler Technologies from a “buy” rating to a “neutral” rating and set a $275.00 price target on the stock. in a research report on Thursday, December 5th. DA Davidson lifted their price target on shares of Tyler Technologies from $216.00 to $238.00 and gave the company a “neutral” rating in a report on Friday, November 1st. They noted that the move was a valuation call. Finally, Zacks Investment Research raised shares of Tyler Technologies from a “hold” rating to a “buy” rating and set a $334.00 price objective for the company in a research report on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $283.11.
TYL traded down $3.61 during trading on Friday, reaching $310.39. 10,903 shares of the company were exchanged, compared to its average volume of 222,777. Tyler Technologies, Inc. has a 52 week low of $185.54 and a 52 week high of $320.46. 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 firm has a 50 day moving average of $300.05 and a 200 day moving average of $268.58. The stock has a market cap of $12.14 billion, a P/E ratio of 94.55 and a beta of 0.89.
Tyler Technologies (NYSE:TYL) last announced its quarterly 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 firm had revenue of $275.40 million for the quarter, compared to analyst estimates of $281.03 million. Tyler Technologies had a net margin of 12.63% and a return on equity of 11.51%. The business’s revenue was up 16.6% compared to the same quarter last year. During the same period last year, the firm posted $1.23 EPS. As a group, analysts forecast that Tyler Technologies, Inc. will post 4.15 earnings per share for the current fiscal year.
In other Tyler Technologies news, CFO Brian K. Miller sold 17,750 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $282.96, for a total value of $5,022,540.00. Following the completion of the transaction, the chief financial officer now owns 46,991 shares in the company, valued at approximately $13,296,573.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO H Lynn Moore, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $290.02, for a total transaction of $2,900,200.00. Following the completion of the sale, the chief executive officer now owns 73,672 shares in the company, valued at approximately $21,366,353.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,750 shares of company stock worth $19,364,240. 4.40% of the stock is currently owned by insiders.
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.
Further Reading: Trading Ex-Dividend
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