Alliancebernstein L.P. boosted its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 0.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 318,283 shares of the technology company’s stock after purchasing an additional 2,300 shares during the quarter. Alliancebernstein L.P. owned approximately 0.82% of Tyler Technologies worth $77,998,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in Tyler Technologies by 3.6% during the 1st quarter. Principal Financial Group Inc. now owns 154,100 shares of the technology company’s stock valued at $32,509,000 after buying an additional 5,403 shares during the last quarter. Bank of Montreal Can purchased a new stake in Tyler Technologies during the 2nd quarter valued at $5,572,000. BNP Paribas Arbitrage SA raised its stake in Tyler Technologies by 134.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,344 shares of the technology company’s stock valued at $743,000 after buying an additional 1,917 shares during the last quarter. Taylor Wealth Management Partners purchased a new stake in Tyler Technologies during the 2nd quarter valued at $13,160,000. Finally, Massachusetts Financial Services Co. MA raised its stake in Tyler Technologies by 9.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 137,706 shares of the technology company’s stock valued at $30,584,000 after buying an additional 11,314 shares during the last quarter. 91.68% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have weighed in on the stock. B. Riley boosted their target price on shares of Tyler Technologies from $200.00 to $206.00 and gave the company a “neutral” rating in a research note on Monday, July 30th. Zacks Investment Research upgraded Tyler Technologies from a “sell” rating to a “hold” rating in a research note on Friday. Robert W. Baird reduced their price objective on Tyler Technologies from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, November 2nd. JMP Securities reduced their price objective on Tyler Technologies from $250.00 to $245.00 and set a “market outperform” rating for the company in a research note on Thursday, November 1st. Finally, KeyCorp restated a “hold” rating on shares of Tyler Technologies in a research note on Friday, November 2nd. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $233.36.
Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, October 31st. The technology company reported $1.23 EPS for the quarter, hitting the consensus estimate of $1.23. The firm had revenue of $236.10 million during the quarter, compared to analyst estimates of $240.98 million. Tyler Technologies had a return on equity of 11.19% and a net margin of 19.47%. Tyler Technologies’s revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.05 EPS. As a group, research analysts anticipate that Tyler Technologies, Inc. will post 3.77 earnings per share for the current fiscal year.
In related news, Director Luther King, Jr. sold 275 shares of the company’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $193.29, for a total value of $53,154.75. Following the completion of the transaction, the director now owns 72,864 shares of the company’s stock, valued at approximately $14,083,882.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO H Lynn Moore, Jr. sold 9,200 shares of the company’s stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $245.27, for a total transaction of $2,256,484.00. Following the completion of the transaction, the chief executive officer now directly 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 sold a total of 83,312 shares of company stock valued at $20,465,324 in the last ninety days. 4.70% of the stock is currently owned by insiders.
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Tyler Technologies Profile
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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