Squarepoint Ops LLC increased its position in Tyler Technologies, Inc. (NYSE:TYL) by 307.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,365 shares of the technology company’s stock after acquiring an additional 16,877 shares during the quarter. Squarepoint Ops LLC’s holdings in Tyler Technologies were worth $5,871,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Eaton Vance Management lifted its stake in Tyler Technologies by 2,217.7% in the 2nd quarter. Eaton Vance Management now owns 232,397 shares of the technology company’s stock worth $50,202,000 after purchasing an additional 222,370 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Tyler Technologies during the 2nd quarter valued at $31,804,000. Teacher Retirement System of Texas increased its holdings in shares of Tyler Technologies by 253.8% in the second quarter. Teacher Retirement System of Texas now owns 185,410 shares of the technology company’s stock worth $40,052,000 after purchasing an additional 133,000 shares during the period. Columbus Circle Investors bought a new position in shares of Tyler Technologies in the third quarter worth $26,569,000. Finally, BlackRock Inc. raised its position in shares of Tyler Technologies by 2.2% in the second quarter. BlackRock Inc. now owns 3,888,945 shares of the technology company’s stock worth $840,090,000 after buying an additional 83,696 shares in the last quarter. Institutional investors own 88.31% of the company’s stock.
TYL has been the subject of several research analyst reports. Oppenheimer assumed coverage on Tyler Technologies in a research note on Monday, October 7th. They set an “outperform” rating and a $300.00 price objective for the company. ValuEngine lowered Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. DA Davidson raised their price target on Tyler Technologies from $216.00 to $238.00 and gave the company a “neutral” rating in a report on Friday, November 1st. They noted that the move was a valuation call. Needham & Company LLC reiterated a “buy” rating on shares of Tyler Technologies in a research report on Thursday, October 31st. Finally, Zacks Investment Research raised Tyler Technologies from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Tyler Technologies has an average rating of “Buy” and an average price target of $271.25.
NYSE TYL opened at $289.28 on Tuesday. Tyler Technologies, Inc. has a 52-week low of $173.26 and a 52-week high of $293.84. The company has a fifty day moving average of $275.70 and a 200-day moving average of $247.19. The company has a market capitalization of $11.31 billion, a P/E ratio of 77.35 and a beta of 0.89. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.20 and a current ratio of 1.20.
Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.36 by ($0.01). Tyler Technologies had a net margin of 12.63% and a return on equity of 11.51%. The firm had revenue of $275.40 million for the quarter, compared to analysts’ expectations of $281.03 million. During the same quarter in the previous year, the business earned $1.23 EPS. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. As a group, analysts forecast that Tyler Technologies, Inc. will post 4.15 EPS for the current fiscal year.
In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $290.02, for a total value of $2,900,200.00. Following the completion of the sale, the chief executive officer now owns 73,672 shares of the company’s stock, valued at $21,366,353.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dustin R. Womble sold 4,800 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $255.75, for a total value of $1,227,600.00. Following the completion of the sale, the director now directly owns 182,922 shares of the company’s stock, valued at approximately $46,782,301.50. The disclosure for this sale can be found here. Insiders have sold a total of 34,300 shares of company stock worth $9,165,090 over the last quarter. Corporate insiders own 4.40% of the company’s stock.
About Tyler Technologies
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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