Massachusetts Financial Services Co. MA Boosts Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Massachusetts Financial Services Co. MA boosted its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 9.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 504,943 shares of the technology company’s stock after acquiring an additional 41,746 shares during the period. Massachusetts Financial Services Co. MA owned 1.25% of Tyler Technologies worth $176,003,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. ClariVest Asset Management LLC lifted its position in Tyler Technologies by 40.1% during the second quarter. ClariVest Asset Management LLC now owns 9,430 shares of the technology company’s stock valued at $3,271,000 after acquiring an additional 2,700 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Tyler Technologies by 134.9% in the second quarter. CIBC Asset Management Inc now owns 3,369 shares of the technology company’s stock worth $1,169,000 after buying an additional 1,935 shares during the last quarter. IBM Retirement Fund raised its holdings in shares of Tyler Technologies by 40.4% in the third quarter. IBM Retirement Fund now owns 1,286 shares of the technology company’s stock worth $448,000 after buying an additional 370 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Tyler Technologies by 411.2% in the second quarter. Bank of Montreal Can now owns 16,097 shares of the technology company’s stock worth $5,815,000 after buying an additional 12,948 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in shares of Tyler Technologies by 10.9% in the second quarter. Nuveen Asset Management LLC now owns 155,723 shares of the technology company’s stock worth $54,017,000 after buying an additional 15,303 shares during the last quarter. 91.08% of the stock is owned by institutional investors.

TYL stock opened at $414.89 on Friday. The firm has a market cap of $16.73 billion, a PE ratio of 90.00, a P/E/G ratio of 6.60 and a beta of 0.74. The firm’s fifty day moving average is $402.32 and its 200 day moving average is $361.38. Tyler Technologies, Inc. has a one year low of $247.22 and a one year high of $429.91.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, November 4th. The technology company reported $1.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.17. The business had revenue of $285.75 million for the quarter, compared to the consensus estimate of $284.07 million. Tyler Technologies had a net margin of 16.96% and a return on equity of 10.05%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $1.35 earnings per share. Research analysts predict that Tyler Technologies, Inc. will post 3.98 EPS for the current year.

TYL has been the subject of a number of research analyst reports. Needham & Company LLC decreased their price target on shares of Tyler Technologies from $380.00 to $280.00 and set a “buy” rating for the company in a report on Thursday, November 5th. DA Davidson raised their price target on shares of Tyler Technologies from $300.00 to $350.00 and gave the stock a “neutral” rating in a report on Monday, October 26th. Royal Bank of Canada raised their price target on shares of Tyler Technologies from $375.00 to $405.00 and gave the stock an “outperform” rating in a report on Friday, October 30th. Northland Securities increased their price objective on shares of Tyler Technologies from $350.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Finally, JMP Securities increased their price objective on shares of Tyler Technologies from $365.00 to $435.00 and gave the stock a “market outperform” rating in a research note on Monday, November 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $357.50.

In other Tyler Technologies news, Chairman John S. Marr, Jr. sold 16,000 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $347.28, for a total transaction of $5,556,480.00. Following the transaction, the chairman now directly owns 152,838 shares of the company’s stock, valued at $53,077,580.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO H Lynn Moore, Jr. sold 7,500 shares of the stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $355.00, for a total transaction of $2,662,500.00. Following the transaction, the chief executive officer now directly owns 73,447 shares in the company, valued at $26,073,685. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,500 shares of company stock worth $16,445,180. Insiders own 3.60% of the company’s stock.

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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Institutional Ownership by Quarter for Tyler Technologies (NYSE:TYL)

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