Massachusetts Financial Services Co. MA boosted its stake in Tyler Technologies (NYSE:TYL) by 31.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 126,392 shares of the technology company’s stock after buying an additional 30,532 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Tyler Technologies were worth $26,664,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. San Francisco Sentry Investment Group CA boosted its stake 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 buying an additional 1,001 shares in the last quarter. S&CO Inc. acquired a new stake in Tyler Technologies in the 1st quarter valued at $211,000. Stone Ridge Asset Management LLC acquired a new stake in Tyler Technologies in the 4th quarter valued at $229,000. MML Investors Services LLC acquired a new stake in Tyler Technologies in the 4th quarter valued at $253,000. Finally, Amundi Pioneer Asset Management Inc. acquired a new stake in Tyler Technologies in the 4th quarter valued at $320,000. 94.15% of the stock is currently owned by institutional investors and hedge funds.
TYL has been the topic of several recent analyst reports. Benchmark reaffirmed a “buy” rating and issued a $250.00 price target (up previously from $225.00) on shares of Tyler Technologies in a research note on Thursday, April 19th. DA Davidson initiated coverage on Tyler Technologies in a research note on Wednesday, March 7th. They issued a “neutral” rating and a $190.00 price target on the stock. Piper Jaffray reissued a “buy” rating and issued a $245.00 price objective on shares of Tyler Technologies in a research note on Monday, April 23rd. Needham & Company LLC reissued a “buy” rating and issued a $235.00 price objective on shares of Tyler Technologies in a research note on Friday, February 23rd. Finally, Maxim Group set a $220.00 price objective on Tyler Technologies and gave the stock a “buy” rating in a research note on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Tyler Technologies presently has an average rating of “Buy” and an average price target of $221.08.
In other news, insider H Lynn Moore, Jr. sold 10,000 shares of the business’s stock in a transaction on Monday, May 14th. The stock was sold at an average price of $229.39, for a total transaction of $2,293,900.00. Following the completion of the sale, the insider now owns 65,335 shares in the company, valued at $14,987,195.65. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO John S. Marr, Jr. sold 41,000 shares of the business’s stock in a transaction 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. In the last 90 days, insiders have sold 171,082 shares of company stock valued at $36,697,699. 4.70% of the stock is currently owned by corporate insiders.
Tyler Technologies stock opened at $227.23 on Friday. The firm has a market capitalization of $8.68 billion, a price-to-earnings ratio of 71.46, a price-to-earnings-growth ratio of 5.95 and a beta of 0.91. Tyler Technologies has a 52 week low of $225.58 and a 52 week high of $227.86.
Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, May 2nd. The technology company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.01. The company had revenue of $221.20 million for the quarter, compared to analyst estimates of $219.37 million. Tyler Technologies had a return on equity of 12.17% and a net margin of 19.65%. The business’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.91 earnings per share. sell-side analysts expect that Tyler Technologies will post 3.81 EPS for the current year.
Tyler Technologies Company 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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