Banco Santander S.A. cut its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 2.5% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,200 shares of the technology company’s stock after selling 290 shares during the period. Banco Santander S.A.’s holdings in Tyler Technologies were worth $3,321,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. MUFG Securities EMEA plc purchased a new position in Tyler Technologies during the fourth quarter valued at approximately $30,000. Archer Investment Corp purchased a new position in Tyler Technologies during the fourth quarter valued at approximately $33,000. Citizens Financial Group Inc RI grew its position in Tyler Technologies by 60.6% during the first quarter. Citizens Financial Group Inc RI now owns 114 shares of the technology company’s stock valued at $34,000 after purchasing an additional 43 shares in the last quarter. Parallel Advisors LLC grew its position in Tyler Technologies by 245.0% during the fourth quarter. Parallel Advisors LLC now owns 138 shares of the technology company’s stock valued at $41,000 after purchasing an additional 98 shares in the last quarter. Finally, Signaturefd LLC grew its position in Tyler Technologies by 121.9% during the first quarter. Signaturefd LLC now owns 213 shares of the technology company’s stock valued at $63,000 after purchasing an additional 117 shares in the last quarter. 89.54% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently commented on the stock. Evercore ISI reaffirmed a “hold” rating and set a $335.00 price objective on shares of Tyler Technologies in a research report on Sunday, February 16th. Zacks Investment Research upgraded shares of Tyler Technologies from a “sell” rating to a “hold” rating in a research note on Friday, April 10th. Needham & Company LLC reiterated a “buy” rating on shares of Tyler Technologies in a research note on Thursday, April 30th. Benchmark lifted their target price on shares of Tyler Technologies from $285.00 to $375.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Finally, BTIG Research began coverage on shares of Tyler Technologies in a research note on Thursday, April 16th. They issued a “neutral” rating for the company. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $314.78.
In other news, Director Donald R. Brattain sold 1,290 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $355.73, for a total value of $458,891.70. Following the completion of the sale, the director now directly owns 2,249 shares in the company, valued at $800,036.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO H Lynn Moore, Jr. sold 30,000 shares of the business’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $312.15, for a total transaction of $9,364,500.00. Following the completion of the sale, the chief executive officer now owns 98,085 shares of the company’s stock, valued at $30,617,232.75. The disclosure for this sale can be found here. Insiders sold 68,868 shares of company stock valued at $22,244,674 over the last 90 days. 3.60% of the stock is owned by corporate insiders.
Shares of Tyler Technologies stock traded up $5.62 on Friday, reaching $360.05. The stock had a trading volume of 230,176 shares, compared to its average volume of 317,346. The business’s 50-day moving average price is $321.17 and its two-hundred day moving average price is $306.05. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.60 and a current ratio of 1.60. Tyler Technologies, Inc. has a fifty-two week low of $205.90 and a fifty-two week high of $368.98. The stock has a market cap of $14.09 billion, a P/E ratio of 87.60, a price-to-earnings-growth ratio of 5.70 and a beta of 0.72.
Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.25 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.25. Tyler Technologies had a net margin of 14.94% and a return on equity of 10.69%. The business had revenue of $276.78 million during the quarter, compared to analysts’ expectations of $279.85 million. During the same period in the previous year, the company earned $1.22 earnings per share. Tyler Technologies’s revenue for the quarter was up 11.3% on a year-over-year basis. As a group, equities analysts forecast that Tyler Technologies, Inc. will post 4.14 earnings per share for the current fiscal year.
About Tyler Technologies
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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