BNP Paribas Arbitrage SA cut its stake in Tyler Technologies, Inc. (NYSE:TYL) by 28.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,101 shares of the technology company’s stock after selling 5,943 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Tyler Technologies were worth $2,632,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. Teachers Advisors LLC boosted its position in Tyler Technologies by 2.5% during the 1st quarter. Teachers Advisors LLC now owns 47,646 shares of the technology company’s stock worth $7,364,000 after acquiring an additional 1,177 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Tyler Technologies by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 130,988 shares of the technology company’s stock worth $20,245,000 after acquiring an additional 2,595 shares during the last quarter. Morgan Stanley boosted its position in Tyler Technologies by 24.5% during the 1st quarter. Morgan Stanley now owns 71,848 shares of the technology company’s stock worth $11,105,000 after acquiring an additional 14,119 shares during the last quarter. Capstone Asset Management Co. boosted its position in Tyler Technologies by 5.8% during the 2nd quarter. Capstone Asset Management Co. now owns 3,427 shares of the technology company’s stock worth $602,000 after acquiring an additional 187 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in shares of Tyler Technologies by 4.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 12,332 shares of the technology company’s stock valued at $2,166,000 after buying an additional 521 shares during the last quarter. 93.34% of the stock is owned by institutional investors.
Shares of Tyler Technologies, Inc. (NYSE TYL) traded up $2.15 during mid-day trading on Thursday, hitting $184.11. The stock had a trading volume of 160,287 shares, compared to its average volume of 193,539. Tyler Technologies, Inc. has a 12-month low of $139.61 and a 12-month high of $188.21. The firm has a market capitalization of $6,920.00, a price-to-earnings ratio of 56.35 and a beta of 0.97.
Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, October 25th. The technology company reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.03. The business had revenue of $214.15 million during the quarter, compared to the consensus estimate of $216.80 million. Tyler Technologies had a return on equity of 12.81% and a net margin of 16.34%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.94 earnings per share. sell-side analysts forecast that Tyler Technologies, Inc. will post 3.28 earnings per share for the current fiscal year.
In other news, VP Brian K. Miller sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $171.63, for a total transaction of $858,150.00. Following the completion of the sale, the vice president now owns 53,194 shares in the company, valued at $9,129,686.22. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Brian K. Miller sold 9,760 shares of Tyler Technologies stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $169.01, for a total value of $1,649,537.60. Following the transaction, the vice president now directly owns 53,194 shares in the company, valued at approximately $8,990,317.94. The disclosure for this sale can be found here. Over the last quarter, insiders sold 241,781 shares of company stock valued at $42,884,892. 10.30% of the stock is currently owned by corporate insiders.
A number of equities research analysts recently weighed in on TYL shares. Piper Jaffray Companies reiterated a “buy” rating and set a $200.00 price objective on shares of Tyler Technologies in a research report on Sunday, August 27th. Zacks Investment Research upgraded Tyler Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. B. Riley cut Tyler Technologies from a “buy” rating to a “neutral” rating and set a $184.00 price target on the stock. in a research report on Friday, October 27th. Maxim Group set a $197.00 price target on Tyler Technologies and gave the stock a “buy” rating in a research report on Thursday, October 26th. Finally, KeyCorp restated a “buy” rating and issued a $180.00 price target on shares of Tyler Technologies in a research report on Friday, October 6th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $193.00.
Tyler Technologies Profile
Tyler Technologies, Inc is a provider of information management solutions and services for the public sector, with a focus on local governments. The Company operates through two segments: Enterprise Software (ES) segment and The Appraisal and Tax (A&T) segment. ES segment provides municipal and county governments and schools with software systems and services for information technology and automation needs that includes back-office functions, such as financial management, courts and justice processes, public safety, planning regulatory and maintenance, and land and vital records management.
Receive News & Ratings for Tyler Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tyler Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.