GW&K Investment Management LLC trimmed its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 9.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 445,871 shares of the technology company’s stock after selling 47,492 shares during the quarter. Tyler Technologies accounts for approximately 1.3% of GW&K Investment Management LLC’s portfolio, making the stock its 5th largest holding. GW&K Investment Management LLC owned about 1.19% of Tyler Technologies worth $78,941,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Zions Bancorporation acquired a new position in Tyler Technologies during the third quarter worth about $156,000. CIBC Asset Management Inc acquired a new position in Tyler Technologies during the third quarter worth about $218,000. D.A. Davidson & CO. grew its position in Tyler Technologies by 13.3% during the second quarter. D.A. Davidson & CO. now owns 1,391 shares of the technology company’s stock worth $244,000 after buying an additional 163 shares during the period. Bell Bank acquired a new position in Tyler Technologies during the third quarter worth about $254,000. Finally, Gofen & Glossberg LLC IL acquired a new position in Tyler Technologies during the second quarter worth about $256,000. Institutional investors and hedge funds own 91.76% of the company’s stock.
Shares of Tyler Technologies, Inc. (NYSE:TYL) traded up $2.28 during midday trading on Friday, hitting $194.10. 107,275 shares of the company’s stock traded hands, compared to its average volume of 141,062. Tyler Technologies, Inc. has a 12 month low of $143.38 and a 12 month high of $194.66. The stock has a market capitalization of $7,290.00, a P/E ratio of 49.90 and a beta of 0.98.
Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, October 25th. The technology company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.03. Tyler Technologies had a net margin of 16.34% and a return on equity of 12.81%. The company had revenue of $214.15 million for the quarter, compared to the consensus estimate of $216.80 million. During the same quarter in the prior year, the firm earned $0.94 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. analysts predict that Tyler Technologies, Inc. will post 3.28 earnings per share for the current year.
TYL has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, December 2nd. B. Riley lowered shares of Tyler Technologies from a “buy” rating to a “neutral” rating and set a $184.00 target price on the stock. in a research report on Friday, October 27th. Maxim Group set a $197.00 target price on shares of Tyler Technologies and gave the stock a “buy” rating in a research report on Thursday, October 26th. KeyCorp restated a “buy” rating and set a $180.00 target price on shares of Tyler Technologies in a research report on Friday, October 6th. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $220.00 target price on shares of Tyler Technologies in a research report on Tuesday. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $195.50.
In other Tyler Technologies news, VP Brian K. Miller sold 5,000 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $176.86, for a total value of $884,300.00. Following the sale, the vice president now owns 55,694 shares of the company’s stock, valued at $9,850,040.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brian K. Miller sold 4,860 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $178.34, for a total transaction of $866,732.40. The disclosure for this sale can be found here. Insiders sold 352,207 shares of company stock worth $63,349,769 in the last ninety days. Insiders own 10.30% of the company’s stock.
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About Tyler Technologies
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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