Norinchukin Bank The grew its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 2.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,364 shares of the technology company’s stock after purchasing an additional 71 shares during the quarter. Norinchukin Bank The’s holdings in Tyler Technologies were worth $1,173,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in TYL. Vanguard Group Inc. boosted its stake in shares of Tyler Technologies by 17.5% during the second quarter. Vanguard Group Inc. now owns 4,508,634 shares of the technology company’s stock valued at $1,563,956,000 after purchasing an additional 670,800 shares during the period. Principal Financial Group Inc. lifted its stake in Tyler Technologies by 113.5% in the third quarter. Principal Financial Group Inc. now owns 740,842 shares of the technology company’s stock worth $258,229,000 after acquiring an additional 393,772 shares during the period. Victory Capital Management Inc. lifted its stake in Tyler Technologies by 666.7% in the second quarter. Victory Capital Management Inc. now owns 262,351 shares of the technology company’s stock worth $91,004,000 after acquiring an additional 228,131 shares during the period. CIBC Private Wealth Group LLC purchased a new stake in Tyler Technologies in the third quarter worth $64,547,000. Finally, Baird Financial Group Inc. lifted its stake in Tyler Technologies by 66.0% in the second quarter. Baird Financial Group Inc. now owns 293,652 shares of the technology company’s stock worth $88,107,000 after acquiring an additional 116,766 shares during the period. 91.08% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO H Lynn Moore, Jr. sold 7,500 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $355.00, for a total transaction of $2,662,500.00. Following the completion of the transaction, the chief executive officer now directly owns 73,447 shares in the company, valued at $26,073,685. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman John S. Marr, Jr. sold 16,000 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $347.28, for a total value of $5,556,480.00. Following the transaction, the chairman now owns 152,838 shares of the company’s stock, valued at $53,077,580.64. The disclosure for this sale can be found here. Insiders have sold 43,500 shares of company stock valued at $16,445,180 over the last 90 days. Corporate insiders own 3.60% of the company’s stock.
TYL opened at $414.89 on Friday. Tyler Technologies, Inc. has a 12-month low of $247.22 and a 12-month high of $429.91. The stock has a fifty day simple moving average of $402.32 and a two-hundred day simple moving average of $361.38. The company has a market cap of $16.73 billion, a price-to-earnings ratio of 90.00, a price-to-earnings-growth ratio of 6.60 and a beta of 0.74.
Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, November 4th. The technology company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.17. Tyler Technologies had a return on equity of 10.05% and a net margin of 16.96%. The firm had revenue of $285.75 million during the quarter, compared to the consensus estimate of $284.07 million. During the same period last year, the company earned $1.35 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts predict that Tyler Technologies, Inc. will post 3.98 EPS for the current fiscal year.
A number of analysts recently commented on the company. Royal Bank of Canada raised their price target on Tyler Technologies from $375.00 to $405.00 and gave the stock an “outperform” rating in a research note on Friday, October 30th. Northland Securities raised their price target on Tyler Technologies from $350.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. DA Davidson raised their price target on Tyler Technologies from $300.00 to $350.00 and gave the stock a “neutral” rating in a research note on Monday, October 26th. Zacks Investment Research downgraded Tyler Technologies from a “hold” rating to a “sell” rating and set a $342.00 price objective for the company. in a report on Monday, September 14th. Finally, JMP Securities increased their price objective on Tyler Technologies from $365.00 to $435.00 and gave the stock a “market outperform” rating in a report on Monday, November 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $357.50.
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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