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.
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.
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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.
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