Renaissance Technologies LLC decreased its stake in Tyler Technologies, Inc. (NYSE:TYL) by 85.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,100 shares of the technology company’s stock after selling 30,400 shares during the quarter. Renaissance Technologies LLC’s holdings in Tyler Technologies were worth $1,133,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board acquired a new stake in shares of Tyler Technologies during the second quarter worth about $352,000. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Tyler Technologies during the second quarter worth about $589,000. Federated Investors Inc. PA raised its position in shares of Tyler Technologies by 3.8% during the second quarter. Federated Investors Inc. PA now owns 469,342 shares of the technology company’s stock worth $104,241,000 after purchasing an additional 17,026 shares during the period. Artisan Partners Limited Partnership raised its position in shares of Tyler Technologies by 0.7% during the second quarter. Artisan Partners Limited Partnership now owns 281,200 shares of the technology company’s stock worth $62,455,000 after purchasing an additional 1,913 shares during the period. Finally, Great West Life Assurance Co. Can raised its position in shares of Tyler Technologies by 12.4% during the second quarter. Great West Life Assurance Co. Can now owns 23,026 shares of the technology company’s stock worth $5,114,000 after purchasing an additional 2,534 shares during the period. 91.71% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:TYL opened at $195.00 on Friday. The stock has a market cap of $8.05 billion, a P/E ratio of 61.32, a PEG ratio of 5.49 and a beta of 0.82. Tyler Technologies, Inc. has a 52-week low of $168.12 and a 52-week high of $252.47.
Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, October 31st. The technology company reported $1.23 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.23. The business had revenue of $236.10 million during the quarter, compared to the consensus estimate of $240.98 million. Tyler Technologies had a return on equity of 11.70% and a net margin of 19.91%. Tyler Technologies’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the company earned $1.05 earnings per share. On average, analysts anticipate that Tyler Technologies, Inc. will post 3.79 EPS for the current year.
A number of research firms have recently commented on TYL. Zacks Investment Research lowered Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. KeyCorp reaffirmed a “hold” rating on shares of Tyler Technologies in a research report on Friday. B. Riley raised their price target on Tyler Technologies from $200.00 to $206.00 and gave the stock a “neutral” rating in a research report on Monday, July 30th. Robert W. Baird reaffirmed a “buy” rating and set a $260.00 price target (up previously from $240.00) on shares of Tyler Technologies in a research report on Friday, July 27th. Finally, JMP Securities dropped their price target on Tyler Technologies from $250.00 to $245.00 and set a “market outperform” rating on the stock in a research report on Thursday. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $234.27.
In related news, insider John S. Marr, Jr. sold 24,000 shares of the stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $231.89, for a total transaction of $5,565,360.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brian K. Miller sold 10,000 shares of the stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $233.87, for a total value of $2,338,700.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 133,397 shares of company stock valued at $32,234,944. 4.70% of the stock is owned by corporate insiders.
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.
Further Reading: Earnings Reports
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