American Century Companies Inc. trimmed its stake in Tyler Technologies, Inc. (NYSE:TYL) by 0.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 367,909 shares of the technology company’s stock after selling 381 shares during the quarter. American Century Companies Inc.’s holdings in Tyler Technologies were worth $90,160,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TYL. Principal Financial Group Inc. raised its position in shares of Tyler Technologies by 3.6% in the first quarter. Principal Financial Group Inc. now owns 154,100 shares of the technology company’s stock valued at $32,509,000 after purchasing an additional 5,403 shares during the period. State of Alaska Department of Revenue raised its position in shares of Tyler Technologies by 41.9% in the second quarter. State of Alaska Department of Revenue now owns 4,570 shares of the technology company’s stock valued at $1,014,000 after purchasing an additional 1,350 shares during the period. Bank of Montreal Can bought a new stake in shares of Tyler Technologies in the second quarter valued at approximately $5,572,000. Welch & Forbes LLC bought a new stake in shares of Tyler Technologies in the second quarter valued at approximately $222,000. Finally, Retirement Systems of Alabama raised its position in shares of Tyler Technologies by 1.0% in the second quarter. Retirement Systems of Alabama now owns 51,108 shares of the technology company’s stock valued at $11,351,000 after purchasing an additional 522 shares during the period. 92.11% of the stock is owned by institutional investors.
TYL stock opened at $188.48 on Friday. Tyler Technologies, Inc. has a one year low of $168.48 and a one year high of $252.47. The company has a market capitalization of $7.28 billion, a price-to-earnings ratio of 59.27, a P/E/G ratio of 4.97 and a beta of 0.92.
Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, October 31st. The technology company reported $1.23 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.23. Tyler Technologies had a net margin of 19.47% and a return on equity of 11.19%. The business had revenue of $236.10 million during the quarter, compared to analysts’ expectations of $240.98 million. During the same quarter in the previous year, the company earned $1.05 EPS. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, sell-side analysts expect that Tyler Technologies, Inc. will post 3.77 earnings per share for the current year.
In other Tyler Technologies news, Director Luther King, Jr. sold 275 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Brenda A. Cline sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $250.39, for a total transaction of $1,001,560.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $1,251,950. The disclosure for this sale can be found here. In the last three months, insiders sold 133,672 shares of company stock valued at $32,288,099. Corporate insiders own 4.70% of the company’s stock.
Several equities analysts recently commented on the stock. JMP Securities reduced their price objective on shares of 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. B. Riley boosted their price objective 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. Robert W. Baird reaffirmed a “buy” rating and set a $260.00 price objective (up previously from $240.00) on shares of Tyler Technologies in a research note on Friday, July 27th. KeyCorp reaffirmed a “hold” rating on shares of Tyler Technologies in a research note on Friday, November 2nd. Finally, TheStreet cut shares of Tyler Technologies from a “b” rating to a “c+” rating in a research note on Thursday, November 1st. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Tyler Technologies currently has an average rating of “Buy” and an average target price of $233.36.
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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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