Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 12.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,285 shares of the technology company’s stock after selling 322 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Tyler Technologies were worth $560,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd raised its stake in Tyler Technologies by 390.6% during the third quarter. Harvest Fund Management Co. Ltd now owns 574 shares of the technology company’s stock worth $141,000 after acquiring an additional 457 shares in the last quarter. Engineers Gate Manager LP acquired a new position in Tyler Technologies during the third quarter worth $208,000. Zions Bancorporation acquired a new position in Tyler Technologies during the third quarter worth $224,000. Alps Advisors Inc. acquired a new position in Tyler Technologies during the second quarter worth $209,000. Finally, Parametrica Management Ltd acquired a new position in Tyler Technologies during the third quarter worth $249,000. Hedge funds and other institutional investors own 91.18% of the company’s stock.
Shares of TYL stock opened at $185.51 on Friday. The firm has a market cap of $7.27 billion, a PE ratio of 58.34, a price-to-earnings-growth ratio of 4.97 and a beta of 0.88. Tyler Technologies, Inc. has a 52 week low of $176.36 and a 52 week high of $252.47.
Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, October 31st. The technology company reported $1.23 EPS for the quarter, hitting the consensus estimate of $1.23. The company had revenue of $236.10 million for the quarter, compared to analysts’ expectations of $240.98 million. Tyler Technologies had a return on equity of 11.19% and a net margin of 19.47%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.05 earnings per share. On average, research analysts expect that Tyler Technologies, Inc. will post 3.77 EPS for the current fiscal year.
Several research analysts have issued reports on the company. Zacks Investment Research upgraded Tyler Technologies from a “hold” rating to a “buy” rating and set a $236.00 price objective for the company in a research note on Saturday, October 27th. KeyCorp reiterated a “hold” rating on shares of Tyler Technologies in a research note on Friday, November 2nd. Robert W. Baird dropped their price objective on Tyler Technologies from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, November 2nd. TheStreet lowered Tyler Technologies from a “b” rating to a “c+” rating in a research note on Thursday, November 1st. Finally, JMP Securities dropped their price objective on Tyler Technologies from $250.00 to $245.00 and set a “market outperform” rating for the company in a research note on Thursday, November 1st. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $233.36.
In other news, Director Brenda A. Cline sold 4,000 shares of the stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $250.39, for a total transaction of $1,001,560.00. Following the sale, the director now owns 5,000 shares in the company, valued at $1,251,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian K. Miller sold 5,652 shares of the stock in a transaction on Friday, September 14th. The stock was sold at an average price of $249.64, for a total value of $1,410,965.28. Following the sale, the vice president now owns 48,263 shares in the company, valued at approximately $12,048,375.32. The disclosure for this sale can be found here. Insiders have sold 29,927 shares of company stock worth $6,278,880 in the last 90 days. Company insiders own 4.70% of the company’s stock.
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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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