Hartford Investment Management Co. Reduces Its Stake in Tyler Technologies, Inc. (NYSE:TYL)

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Hartford Investment Management Co. reduced its holdings of Tyler Technologies, Inc. (NYSE:TYL – Get Rating) stock by 7.4% during the 1st quarter, according to the company in its latest filing with the Securities and Exchange Commission . The fund held 3,840 shares of the technology company after selling 309 shares during the period. Hartford Investment Management Co.’s holdings in Tyler Technologies were worth $1,708,000 at the end of the last quarter.

A number of other institutional investors and hedge funds also changed their holdings of TYL. Norges Bank acquired a new stake in Tyler Technologies during the 4th quarter at a value of $189,211,000. Invesco Ltd. increased its stake in shares of Tyler Technologies by 101.9% in the 4th quarter. Invesco Ltd. now owns 661,404 shares of the technology company worth $355,803,000 after purchasing an additional 333,839 shares in the last quarter. BlackRock Inc. increased its position in Tyler Technologies by 7.5% during the fourth quarter. BlackRock Inc. now owns 4,243,121 shares of the technology company valued at $2,282,585,000 after buying an additional 295,863 shares last quarter. State Street Corp increased its stake in Tyler Technologies by 2.6% during the fourth quarter. State Street Corp now owns 1,692,988 shares of the technology company valued at $910,743,000 after acquiring an additional 42,788 shares during the period. Finally, Los Angeles Capital Management LLC increased its stake in Tyler Technologies by 92.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 61,074 shares of the technology company valued at $32,855,000 after acquiring an additional 29,339 shares during the period. Institutional investors and hedge funds own 90.14% of the company’s shares.

In other news, Chief Financial Officer Brian K. Miller sold 2,500 shares of Tyler Technologies in a trade on Friday, May 13. The shares were sold at an average price of $358.97, for a total transaction of $897,425.00. Following the completion of the sale, the CFO now directly owns 28,594 shares of the company, valued at approximately $10,264,388.18. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, Chairman John S. Marr, Jr. sold 6,000 shares of Tyler Technologies in a trade on Wednesday, June 8. The stock was sold at an average price of $363.75, for a total transaction of $2,182,500.00. Following the sale, the president now directly owns 57,638 shares of the company, valued at $20,965,822.50. The disclosure of this sale can be found here. Insiders of the company own 2.00% of the shares of the company.

NYSE:TYL opened at $333.88 on Monday. The company has a debt ratio of 0.54, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $13.85 billion, a P/E ratio of 86.05 and a beta of 0.83. The company has a 50-day moving average price of $349.06 and a 200-day moving average price of $416.17. Tyler Technologies, Inc. has a fifty-two week low of $300.85 and a fifty-two week high of $557.55.

Tyler Technologies (NYSE:TYL – Get Rating) last released quarterly earnings data on Wednesday, April 27. The technology company reported earnings per share of $1.43 for the quarter, beating analyst consensus estimates of $1.31 by $0.12. Tyler Technologies had a net margin of 9.38% and a return on equity of 10.62%. The company posted revenue of $456.11 million in the quarter, compared to $435.29 million expected by analysts. During the same quarter last year, the company posted EPS of $1.08. Research analysts expect Tyler Technologies, Inc. to post earnings per share of 5.73 for the current fiscal year.

TYL has been the subject of several research reports. Loop Capital began covering Tyler Technologies in a report on Monday, April 18. They issued a “buy” rating and a target price of $520.00 on the stock. DA Davidson upgraded Tyler Technologies from a “neutral” rating to a “buy” rating and set a target price of $440.00 for the company in a Thursday, May 26 research report. They noted that the move was a review call. TheStreet downgraded Tyler Technologies from a “b-” rating to a “c+” rating in a Wednesday, April 27 report. StockNews.com began covering Tyler Technologies in a report on Thursday, March 31. They issued a “holding” rating for the company. Finally, Credit Suisse Group began covering shares of Tyler Technologies in a Monday, May 9 research note. They issued a “neutral” rating and a price target of $408.00 for the company. Three equity research analysts gave the stock a hold rating and ten gave the stock a buy rating. Based on MarketBeat data, Tyler Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $516.92.

Profile of Tyler Technologies (Get a rating)

Tyler Technologies, Inc. provides integrated information management solutions and services for the public sector. The Company operates in three segments: Enterprise Software; Estimate and Taxation; and NICs. It offers financial management solutions, including modular fund accounting systems for government agencies or nonprofit entities; utility billing systems for billing and collecting metered and unmetered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costs, animal and business licenses, permits and inspections, code enforcement, tracking citizen complaints, billing ambulances, maintaining the fleet and managing cemetery registers; and information and transportation solutions for K-12 students.

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Institutional ownership by quarter for Tyler Technologies (NYSE:TYL)



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