Bard Associates Inc. lowered its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 6.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,600 shares of the technology company’s stock after selling 900 shares during the period. Tyler Technologies makes up 1.4% of Bard Associates Inc.’s investment portfolio, making the stock its 14th largest position. Bard Associates Inc.’s holdings in Tyler Technologies were worth $3,021,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in TYL. Morgan Stanley raised its holdings in shares of Tyler Technologies by 949.5% in the 2nd quarter. Morgan Stanley now owns 940,517 shares of the technology company’s stock valued at $208,889,000 after acquiring an additional 850,905 shares in the last quarter. Loomis Sayles & Co. L P purchased a new stake in shares of Tyler Technologies in the 1st quarter valued at about $37,795,000. BlackRock Inc. raised its holdings in shares of Tyler Technologies by 5.8% in the 2nd quarter. BlackRock Inc. now owns 3,195,740 shares of the technology company’s stock valued at $709,773,000 after acquiring an additional 173,889 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Tyler Technologies by 2,630.4% in the 2nd quarter. First Trust Advisors LP now owns 132,125 shares of the technology company’s stock valued at $29,345,000 after acquiring an additional 127,286 shares in the last quarter. Finally, Blair William & Co. IL raised its holdings in shares of Tyler Technologies by 147.4% in the 1st quarter. Blair William & Co. IL now owns 204,773 shares of the technology company’s stock valued at $43,199,000 after acquiring an additional 121,994 shares in the last quarter. 92.23% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have weighed in 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, June 25th. Zacks Investment Research raised Tyler Technologies from a “hold” rating to a “buy” rating and set a $267.00 price target on the stock in a report on Tuesday, July 24th. Robert W. Baird reaffirmed a “buy” rating and issued a $260.00 price target (up previously from $240.00) on shares of Tyler Technologies in a report on Friday, July 27th. Finally, B. Riley raised their price target on Tyler Technologies from $200.00 to $206.00 and gave the company a “neutral” rating in a report on Monday, July 30th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $228.58.
Shares of NYSE TYL opened at $249.27 on Friday. The stock has a market cap of $9.67 billion, a P/E ratio of 78.39, a PEG ratio of 6.60 and a beta of 0.88. Tyler Technologies, Inc. has a 1-year low of $167.50 and a 1-year high of $252.47.
Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Thursday, July 26th. The technology company reported $1.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.05. The company had revenue of $236.10 million for the quarter, compared to analysts’ expectations of $233.28 million. Tyler Technologies had a return on equity of 11.70% and a net margin of 19.91%. Tyler Technologies’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period last year, the firm posted $0.91 EPS. research analysts anticipate that Tyler Technologies, Inc. will post 3.79 earnings per share for the current year.
In related news, insider John S. Marr, Jr. sold 30,460 shares of the firm’s stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $244.50, for a total transaction of $7,447,470.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO H Lynn Moore, Jr. sold 9,200 shares of the firm’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $245.27, for a total value of $2,256,484.00. Following the transaction, the chief executive officer now directly owns 67,147 shares in the company, valued at $16,469,144.69. The disclosure for this sale can be found here. Over the last three months, insiders have sold 132,745 shares of company stock worth $31,950,629. 4.70% of the stock is currently owned by insiders.
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.
Featured Story: What Is An Exchange-Traded Fund (ETF)?
Want to see what other hedge funds are holding TYL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tyler Technologies, Inc. (NYSE:TYL).
Receive News & Ratings for Tyler Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tyler Technologies and related companies with MarketBeat.com's FREE daily email newsletter.