Redpoint Investment Management Pty Ltd reduced its position in shares of Tyler Technologies, Inc. (NYSE: TYL – Get Rating) by 34.2% in Q1, Holdings Channel reports. The company held 628 shares of the technology company after selling 327 shares during the quarter. Redpoint Investment Management Pty Ltd’s holdings in Tyler Technologies were worth $279,000 at the end of the last quarter.
Other institutional investors have also recently increased or reduced their stake in the company. Trust Co. of Vermont bought a new position in Tyler Technologies during Q4 worth approximately $27,000. Confluence Wealth Services Inc. acquired a new stake in shares of Tyler Technologies during Q4 worth approximately $58,000. GraniteShares Advisors LLC acquired a new stake in shares of Tyler Technologies during Q4 worth approximately $104,000. CWM LLC acquired a new stake in shares of Tyler Technologies during Q4 worth approximately $105,000. Finally, RE Advisers Corp increased its position in Tyler Technologies shares by 29.1% during the 4th quarter. RE Advisers Corp now owns 204 shares of the technology company worth $110,000 after buying 46 additional shares during the period. Hedge funds and other institutional investors hold 90.14% of the company’s shares.
Several analysts have recently commented on TYL shares. Loop Capital began covering Tyler Technologies shares in a research report on Monday, April 18. They set a “buy” rating and a price target of $520.00 for the company. Barclays began covering shares of Tyler Technologies in a research report on Monday, March 14. They set an “equal weight” rating and a price target of $445.00 for the company. DA Davidson moved shares of Tyler Technologies from a “neutral” rating to a “buy” rating and set a price target of $440.00 for the company in a Thursday, May 26 research report. They noted that the move was a review call. TheStreet downgraded shares of Tyler Technologies from a “b-” rating to a “c+” rating in a research report on Wednesday, April 27. Finally, Wells Fargo & Company downgraded Tyler Technologies shares from an “equal weight” rating to an “overweight” rating and raised its price target for the company from $425.00 to $435.00. in a Tuesday, June 7 research report. Three analysts gave the stock a hold rating and ten gave the company a buy rating. According to MarketBeat.com, Tyler Technologies has an average rating of “Moderate Buy” and an average price target of $516.92.
In other news from Tyler Technologies, Chief Financial Officer Brian K. Miller sold 2,500 shares of the company in a trade on Friday, May 13. The stock was sold at an average price of $358.97, for a total transaction of $897,425.00. Following the transaction, the CFO now directly owns 28,594 shares of the company, valued at approximately $10,264,388.18. The sale was disclosed in a document filed with the SEC, which is available via this hyperlink. 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 value of $2,182,500.00. Following the sale, the president now owns 57,638 shares of the company, valued at $20,965,822.50. The disclosure of this sale can be found here. 2.00% of the shares are currently held by insiders of the company.
Shares of NYSE:TYL opened at $345.33 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt ratio of 0.54. The stock’s fifty-day simple moving average is $355.44 and its two-hundred-day simple moving average is $423.01. Tyler Technologies, Inc. has a 1-year minimum of $300.85 and a 1-year maximum of $557.55. The stock has a market capitalization of $14.32 billion, a PE ratio of 89.00 and a beta of 0.83.
Tyler Technologies Inc (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 the consensus estimate of $1.31 by $0.12. Tyler Technologies had a return on equity of 10.62% and a net margin of 9.38%. The company posted revenue of $456.11 million for the quarter, compared to $435.29 million expected by analysts. During the same period last year, the company achieved EPS of $1.08. On average, sell-side analysts expect Tyler Technologies, Inc. to post earnings per share of 5.73 for the current fiscal year.
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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