Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 50.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 600 shares of the technology company’s stock after acquiring an additional 200 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Tyler Technologies were worth $262,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Pacer Advisors Inc. lifted its stake in shares of Tyler Technologies by 6.7% during the 4th quarter. Pacer Advisors Inc. now owns 3,010 shares of the technology company’s stock worth $1,314,000 after acquiring an additional 188 shares during the last quarter. SG Americas Securities LLC increased its holdings in Tyler Technologies by 779.6% during the 4th quarter. SG Americas Securities LLC now owns 6,764 shares of the technology company’s stock worth $2,953,000 after purchasing an additional 5,995 shares during the period. Cetera Advisor Networks LLC increased its holdings in Tyler Technologies by 963.0% during the 3rd quarter. Cetera Advisor Networks LLC now owns 574 shares of the technology company’s stock worth $200,000 after purchasing an additional 520 shares during the period. Public Sector Pension Investment Board increased its holdings in Tyler Technologies by 26.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 4,800 shares of the technology company’s stock worth $1,673,000 after purchasing an additional 1,000 shares during the period. Finally, Kovack Advisors Inc. increased its holdings in Tyler Technologies by 35.1% during the 4th quarter. Kovack Advisors Inc. now owns 804 shares of the technology company’s stock worth $351,000 after purchasing an additional 209 shares during the period. 91.99% of the stock is owned by hedge funds and other institutional investors.
In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 16,750 shares of Tyler Technologies stock in a transaction dated Friday, February 26th. The stock was sold at an average price of $466.11, for a total transaction of $7,807,342.50. Following the completion of the sale, the chief executive officer now owns 81,012 shares of the company’s stock, valued at approximately $37,760,503.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel M. Pope sold 705 shares of Tyler Technologies stock in a transaction dated Wednesday, February 17th. The stock was sold at an average price of $464.57, for a total value of $327,521.85. Following the sale, the director now directly owns 3,375 shares of the company’s stock, valued at approximately $1,567,923.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,211 shares of company stock worth $26,287,848. 3.60% of the stock is owned by company insiders.
Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, February 10th. The technology company reported $1.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.42 by ($0.03). Tyler Technologies had a return on equity of 9.91% and a net margin of 16.71%. The business had revenue of $283.30 million for the quarter, compared to analysts’ expectations of $291.39 million. During the same quarter last year, the firm earned $1.43 earnings per share. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. Sell-side analysts predict that Tyler Technologies, Inc. will post 4.14 EPS for the current year.
Several research firms have commented on TYL. JMP Securities raised their price objective on Tyler Technologies from $435.00 to $480.00 and gave the stock a “market outperform” rating in a report on Thursday, February 11th. Northcoast Research upgraded Tyler Technologies from a “neutral” rating to a “buy” rating and set a $500.00 price objective on the stock in a report on Wednesday, March 17th. Needham & Company LLC cut their price target on Tyler Technologies from $510.00 to $480.00 and set a “buy” rating on the stock in a report on Thursday, April 1st. Finally, DA Davidson lifted their price target on Tyler Technologies from $370.00 to $395.00 and gave the company a “neutral” rating in a report on Friday, February 12th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $409.50.
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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