Goldman Sachs Group Inc. cut its holdings in Tyler Technologies (NYSE:TYL) by 25.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 527,021 shares of the technology company’s stock after selling 178,668 shares during the period. Goldman Sachs Group Inc. owned 1.40% of Tyler Technologies worth $93,309,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Zions Bancorporation acquired a new stake in shares of Tyler Technologies during the 3rd quarter worth $156,000. San Francisco Sentry Investment Group CA increased its holdings in Tyler Technologies by 1,334.7% in the 4th quarter. San Francisco Sentry Investment Group CA now owns 1,076 shares of the technology company’s stock valued at $191,000 after purchasing an additional 1,001 shares in the last quarter. CIBC Asset Management Inc acquired a new stake in Tyler Technologies in the 3rd quarter valued at $218,000. Stone Ridge Asset Management LLC acquired a new stake in Tyler Technologies in the 4th quarter valued at $229,000. Finally, MML Investors Services LLC acquired a new stake in Tyler Technologies in the 4th quarter valued at $253,000. Institutional investors own 94.47% of the company’s stock.
A number of equities analysts have weighed in on TYL shares. ValuEngine raised shares of Tyler Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday. Evercore ISI reaffirmed a “buy” rating and set a $210.00 price target on shares of Tyler Technologies in a research report on Friday, February 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $235.00 price target on shares of Tyler Technologies in a research report on Friday, February 23rd. Maxim Group set a $220.00 price target on shares of Tyler Technologies and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Finally, Zacks Investment Research raised shares of Tyler Technologies from a “hold” rating to a “buy” rating and set a $233.00 target price on the stock in a report on Wednesday, March 21st. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Tyler Technologies presently has an average rating of “Buy” and an average target price of $210.27.
In related news, Director Dustin R. Womble sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $203.71, for a total value of $1,527,825.00. Following the completion of the transaction, the director now owns 16,570 shares of the company’s stock, valued at approximately $3,375,474.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brian K. Miller sold 5,000 shares of the firm’s 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 transaction, the vice president now directly owns 55,114 shares of the company’s stock, valued at approximately $11,603,701.56. The disclosure for this sale can be found here. Insiders have sold 114,582 shares of company stock valued at $23,816,504 over the last 90 days. 10.30% of the stock is currently owned by insiders.
NYSE TYL opened at $206.66 on Friday. Tyler Technologies has a 12 month low of $152.76 and a 12 month high of $214.33. The company has a market cap of $7,922.83, a P/E ratio of 64.99 and a beta of 0.91.
Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data 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 analyst estimates of $220.56 million. Tyler Technologies had a net margin of 19.50% and a return on equity of 12.49%. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the business earned $0.90 earnings per share. research analysts expect that Tyler Technologies will post 3.87 EPS for the current fiscal year.
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Tyler Technologies Profile
Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. It operates through two segments, Enterprise Software, and Appraisal and Tax. The company's financial management solutions include modular fund accounting systems for government agencies or not-for-profit entities; and utility billing systems for the billing and collection of metered and non-metered services.
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