UBS Asset Management Americas Inc. raised its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 9.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 30,780 shares of the technology company’s stock after acquiring an additional 2,542 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in Tyler Technologies were worth $5,450,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in TYL. Nationwide Fund Advisors lifted its position in Tyler Technologies by 1.0% during the 3rd quarter. Nationwide Fund Advisors now owns 370,470 shares of the technology company’s stock valued at $64,580,000 after purchasing an additional 3,589 shares during the period. First Trust Advisors LP lifted its position in Tyler Technologies by 836.3% during the 3rd quarter. First Trust Advisors LP now owns 41,384 shares of the technology company’s stock valued at $7,214,000 after purchasing an additional 36,964 shares during the period. Aperio Group LLC lifted its position in Tyler Technologies by 13.5% during the 3rd quarter. Aperio Group LLC now owns 9,982 shares of the technology company’s stock valued at $1,740,000 after purchasing an additional 1,187 shares during the period. Crossmark Global Holdings Inc. acquired a new position in Tyler Technologies during the 3rd quarter valued at about $675,000. Finally, Victory Capital Management Inc. lifted its position in Tyler Technologies by 788.4% during the 3rd quarter. Victory Capital Management Inc. now owns 90,872 shares of the technology company’s stock valued at $15,841,000 after purchasing an additional 80,643 shares during the period. Institutional investors own 94.47% of the company’s stock.
In related news, VP Brian K. Miller sold 5,000 shares of the stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $210.54, for a total transaction of $1,052,700.00. Following the completion of the sale, the vice president now directly owns 55,114 shares of the company’s stock, valued at approximately $11,603,701.56. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO John S. Marr, Jr. sold 41,000 shares of the stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $209.05, for a total value of $8,571,050.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 199,411 shares of company stock valued at $38,560,208. 10.30% of the stock is owned by company insiders.
Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, February 21st. The technology company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.03. Tyler Technologies had a return on equity of 12.49% and a net margin of 19.50%. The business had revenue of $217.85 million during the quarter, compared to analysts’ expectations of $220.56 million. During the same period in the prior year, the business earned $0.90 EPS. Tyler Technologies’s revenue for the quarter was up 12.7% compared to the same quarter last year. equities research analysts expect that Tyler Technologies, Inc. will post 3.87 EPS for the current year.
A number of research analysts have issued reports on the stock. Maxim Group upped their target price on shares of Tyler Technologies from $197.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Evercore ISI reiterated a “buy” rating and issued a $210.00 price target on shares of Tyler Technologies in a research report on Friday, February 23rd. Piper Jaffray Companies reiterated an “overweight” rating and issued a $220.00 price target on shares of Tyler Technologies in a research report on Tuesday, January 16th. Needham & Company LLC reiterated a “buy” rating and issued a $235.00 price target on shares of Tyler Technologies in a research report on Friday, February 23rd. Finally, Zacks Investment Research downgraded shares of Tyler Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $203.70.
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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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