Rhumbline Advisers Buys 2,070 Shares of Tyler Technologies, Inc. (TYL)

Rhumbline Advisers increased its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 2.5% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 85,769 shares of the technology company’s stock after purchasing an additional 2,070 shares during the period. Rhumbline Advisers’ holdings in Tyler Technologies were worth $21,019,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. increased its stake in Tyler Technologies by 5.8% in the 2nd quarter. BlackRock Inc. now owns 3,195,740 shares of the technology company’s stock worth $709,773,000 after acquiring an additional 173,889 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Tyler Technologies by 5.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,248,274 shares of the technology company’s stock worth $305,901,000 after acquiring an additional 65,928 shares during the last quarter. Morgan Stanley increased its stake in Tyler Technologies by 949.5% in the 2nd quarter. Morgan Stanley now owns 940,517 shares of the technology company’s stock worth $208,889,000 after acquiring an additional 850,905 shares during the last quarter. Federated Investors Inc. PA increased its stake in Tyler Technologies by 3.8% in the 2nd quarter. Federated Investors Inc. PA now owns 469,342 shares of the technology company’s stock worth $104,241,000 after acquiring an additional 17,026 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Tyler Technologies by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 459,809 shares of the technology company’s stock worth $102,123,000 after acquiring an additional 1,433 shares during the last quarter. 91.68% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently issued reports on TYL. B. Riley raised their price target on Tyler Technologies from $200.00 to $206.00 and gave the stock a “neutral” rating in a research report on Monday, July 30th. Zacks Investment Research upgraded Tyler Technologies from a “sell” rating to a “hold” rating in a report on Friday. Robert W. Baird dropped their price objective on Tyler Technologies from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, November 2nd. JMP Securities dropped their price objective on Tyler Technologies from $250.00 to $245.00 and set a “market outperform” rating for the company in a report on Thursday, November 1st. Finally, KeyCorp reiterated a “hold” rating on shares of Tyler Technologies in a report on Friday, November 2nd. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $233.36.

In other Tyler Technologies news, Director Luther King, Jr. sold 275 shares of Tyler Technologies stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $193.29, for a total transaction of $53,154.75. Following the completion of the transaction, the director now owns 72,864 shares in the company, valued at $14,083,882.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO H Lynn Moore, Jr. sold 9,200 shares of Tyler Technologies stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $245.27, for a total value of $2,256,484.00. Following the transaction, the chief executive officer now owns 67,147 shares of the company’s stock, valued at approximately $16,469,144.69. The disclosure for this sale can be found here. Insiders have sold 83,312 shares of company stock valued at $20,465,324 in the last quarter. 4.70% of the stock is owned by company insiders.

Shares of NYSE:TYL opened at $184.91 on Friday. The firm has a market cap of $7.18 billion, a price-to-earnings ratio of 58.15, a P/E/G ratio of 4.90 and a beta of 0.92. Tyler Technologies, Inc. has a 12-month low of $175.88 and a 12-month high of $252.47.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, October 31st. The technology company reported $1.23 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.23. The business had revenue of $236.10 million during the quarter, compared to analysts’ expectations of $240.98 million. Tyler Technologies had a return on equity of 11.19% and a net margin of 19.47%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.05 earnings per share. As a group, equities research analysts forecast that Tyler Technologies, Inc. will post 3.77 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This piece was published by WKRB News and is owned by of WKRB News. If you are viewing this piece on another website, it was illegally copied and reposted in violation of United States and international copyright & trademark laws. The original version of this piece can be accessed at https://www.wkrb13.com/2018/11/23/rhumbline-advisers-buys-2070-shares-of-tyler-technologies-inc-tyl.html.

About Tyler Technologies

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. It operates through two segments, Enterprise Software, and Appraisal and Tax. The company's financial management solutions include modular fund accounting systems for government agencies or not-for-profit entities; and utility billing systems for the billing and collection of metered and non-metered services.

Read More: What is Cost of Debt?

Want to see what other hedge funds are holding TYL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tyler Technologies, Inc. (NYSE:TYL).

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

Receive News & Ratings for Tyler Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tyler Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply