Teacher Retirement System of Texas increased its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 318.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,150 shares of the technology company’s stock after buying an additional 9,245 shares during the period. Teacher Retirement System of Texas’ holdings in Tyler Technologies were worth $2,151,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Zions Bancorporation purchased a new stake in shares of Tyler Technologies in the third quarter worth $156,000. CIBC Asset Management Inc purchased a new stake in shares of Tyler Technologies in the third quarter worth $218,000. Bell Bank purchased a new stake in shares of Tyler Technologies in the third quarter worth $254,000. D.A. Davidson & CO. raised its position in shares of Tyler Technologies by 26.2% in the third quarter. D.A. Davidson & CO. now owns 1,756 shares of the technology company’s stock worth $306,000 after buying an additional 365 shares in the last quarter. Finally, Parametrica Management Ltd purchased a new stake in shares of Tyler Technologies in the third quarter worth $310,000. Institutional investors own 94.30% of the company’s stock.
In other news, CEO John S. Marr, Jr. sold 17,000 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $184.93, for a total transaction of $3,143,810.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President H Lynn Moore, Jr. sold 6,000 shares of the firm’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $184.53, for a total value of $1,107,180.00. Following the transaction, the president now directly owns 61,278 shares in the company, valued at $11,307,629.34. The disclosure for this sale can be found here. In the last three months, insiders sold 239,007 shares of company stock worth $43,497,883. 10.30% of the stock is owned by insiders.
A number of research firms recently commented on TYL. Piper Jaffray Companies reissued an “overweight” rating and issued a $220.00 target price on shares of Tyler Technologies in a research note on Tuesday, January 16th. B. Riley reissued a “neutral” rating and issued a $184.00 target price on shares of Tyler Technologies in a research note on Thursday, October 26th. Zacks Investment Research raised Tyler Technologies from a “hold” rating to a “buy” rating and set a $198.00 target price on the stock in a research note on Wednesday, November 1st. Finally, Maxim Group increased their target price on Tyler Technologies from $197.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, February 16th. 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 given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $200.29.
Tyler Technologies, Inc. (NYSE TYL) opened at $201.72 on Friday. The company has a market capitalization of $7,706.73, a price-to-earnings ratio of 59.16 and a beta of 1.00. Tyler Technologies, Inc. has a 12 month low of $151.37 and a 12 month high of $208.67.
Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, February 21st. The technology company reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.03. The business had revenue of $217.85 million for the quarter, compared to analysts’ expectations of $220.56 million. Tyler Technologies had a return on equity of 12.81% and a net margin of 16.34%. The firm’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.90 earnings per share. equities analysts anticipate that Tyler Technologies, Inc. will post 3.28 earnings per share for the current fiscal year.
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Tyler Technologies Company 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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