Suntrust Banks Inc. raised its stake in Tyler Technologies, Inc. (NYSE:TYL) by 4.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 19,739 shares of the technology company’s stock after buying an additional 896 shares during the quarter. Suntrust Banks Inc.’s holdings in Tyler Technologies were worth $4,163,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of TYL. Franklin Resources Inc. lifted its stake in Tyler Technologies by 35.6% in the fourth quarter. Franklin Resources Inc. now owns 796,423 shares of the technology company’s stock valued at $141,009,000 after buying an additional 209,004 shares during the last quarter. Loomis Sayles & Co. L P bought a new stake in Tyler Technologies in the first quarter valued at $37,795,000. Ownership Capital B.V. lifted its stake in Tyler Technologies by 71.3% in the first quarter. Ownership Capital B.V. now owns 351,461 shares of the technology company’s stock valued at $74,144,000 after buying an additional 146,332 shares during the last quarter. Blair William & Co. IL lifted its stake in Tyler Technologies by 147.4% in the first quarter. Blair William & Co. IL now owns 204,773 shares of the technology company’s stock valued at $43,199,000 after buying an additional 121,994 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in Tyler Technologies by 3.7% in the first quarter. BlackRock Inc. now owns 3,021,851 shares of the technology company’s stock valued at $637,490,000 after buying an additional 106,479 shares during the last quarter. Institutional investors own 92.05% of the company’s stock.
Tyler Technologies opened at $217.93 on Thursday, Marketbeat reports. The stock has a market cap of $8.60 billion, a P/E ratio of 68.53, a PEG ratio of 5.90 and a beta of 0.90. Tyler Technologies, Inc. has a 52-week low of $165.14 and a 52-week high of $240.35.
Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, May 2nd. The technology company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.01. Tyler Technologies had a return on equity of 12.17% and a net margin of 19.65%. The firm had revenue of $221.20 million for the quarter, compared to analyst estimates of $219.37 million. During the same period in the previous year, the company earned $0.91 earnings per share. Tyler Technologies’s revenue was up 10.8% compared to the same quarter last year. analysts anticipate that Tyler Technologies, Inc. will post 3.81 EPS for the current year.
In related news, insider John S. Marr, Jr. sold 34,000 shares of the stock in a transaction on Wednesday, June 6th. The stock was sold at an average price of $234.91, for a total value of $7,986,940.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider H Lynn Moore, Jr. sold 18,460 shares of the stock in a transaction on Friday, June 15th. The shares were sold at an average price of $235.49, for a total value of $4,347,145.40. Following the completion of the transaction, the insider now owns 65,335 shares of the company’s stock, valued at approximately $15,385,739.15. The disclosure for this sale can be found here. Insiders sold a total of 182,829 shares of company stock valued at $42,407,722 in the last quarter. 4.70% of the stock is currently owned by corporate insiders.
A number of research analysts have recently commented on TYL shares. Piper Jaffray Companies raised their price target on Tyler Technologies from $242.00 to $260.00 and gave the company an “overweight” rating in a report on Monday. Northland Securities reissued an “outperform” rating and set a $240.00 price target (up from $200.00) on shares of Tyler Technologies in a report on Tuesday, April 24th. Needham & Company LLC raised their price target on Tyler Technologies from $235.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, April 24th. Zacks Investment Research lowered Tyler Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, May 9th. Finally, DA Davidson lifted their target price on Tyler Technologies from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Monday, April 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Tyler Technologies has a consensus rating of “Buy” and a consensus target price of $222.33.
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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