Nicholas Investment Partners LP cut its stake in Tyler Technologies, Inc. (NYSE:TYL) by 57.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,033 shares of the technology company’s stock after selling 13,692 shares during the period. Nicholas Investment Partners LP’s holdings in Tyler Technologies were worth $1,749,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Alps Advisors Inc. lifted its position in Tyler Technologies by 0.3% in the second quarter. Alps Advisors Inc. now owns 3,084 shares of the technology company’s stock valued at $542,000 after acquiring an additional 8 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Tyler Technologies by 0.6% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,925 shares of the technology company’s stock valued at $865,000 after purchasing an additional 30 shares during the period. Teacher Retirement System of Texas increased its stake in Tyler Technologies by 1.7% in the second quarter. Teacher Retirement System of Texas now owns 2,789 shares of the technology company’s stock valued at $490,000 after purchasing an additional 47 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Tyler Technologies by 8.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,412 shares of the technology company’s stock valued at $248,000 after purchasing an additional 114 shares during the period. Finally, World Asset Management Inc increased its stake in Tyler Technologies by 5.1% in the second quarter. World Asset Management Inc now owns 2,475 shares of the technology company’s stock valued at $435,000 after purchasing an additional 119 shares during the period. 93.34% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Dustin R. Womble sold 8,712 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $171.77, for a total transaction of $1,496,460.24. Following the transaction, the director now directly owns 229,822 shares in the company, valued at $39,476,524.94. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Luther King, Jr. sold 1,500 shares of the business’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $176.95, for a total transaction of $265,425.00. Following the transaction, the director now owns 72,864 shares in the company, valued at $12,893,284.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 241,781 shares of company stock worth $42,884,892. Company insiders own 10.30% of the company’s stock.
Shares of Tyler Technologies, Inc. (TYL) traded down $1.74 during trading on Thursday, hitting $181.96. 218,200 shares of the stock were exchanged, compared to its average volume of 193,681. Tyler Technologies, Inc. has a twelve month low of $139.61 and a twelve month high of $188.21. The firm has a market capitalization of $6,901.27, a price-to-earnings ratio of 56.35 and a beta of 0.97.
Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, October 25th. The technology company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.03. Tyler Technologies had a net margin of 16.34% and a return on equity of 12.81%. The business had revenue of $214.15 million for the quarter, compared to analyst estimates of $216.80 million. During the same period in the previous year, the business posted $0.94 earnings per share. The business’s revenue was up 10.1% compared to the same quarter last year. analysts expect that Tyler Technologies, Inc. will post 3.28 earnings per share for the current fiscal year.
TYL has been the topic of a number of recent research reports. Piper Jaffray Companies restated a “buy” rating and issued a $200.00 price objective on shares of Tyler Technologies in a research note on Sunday, August 27th. Zacks Investment Research upgraded shares of Tyler Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. B. Riley lowered shares of Tyler Technologies from a “buy” rating to a “neutral” rating and set a $184.00 price objective on the stock. in a research note on Friday, October 27th. Maxim Group set a $197.00 price objective on shares of Tyler Technologies and gave the company a “buy” rating in a research note on Thursday, October 26th. Finally, KeyCorp restated a “buy” rating and issued a $180.00 price objective on shares of Tyler Technologies in a research note on Friday, October 6th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $193.00.
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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.
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