Retirement Systems of Alabama lifted its stake in Tyler Technologies, Inc. (NYSE:TYL) by 2.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 44,762 shares of the technology company’s stock after acquiring an additional 1,258 shares during the quarter. Retirement Systems of Alabama owned 0.12% of Tyler Technologies worth $7,803,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. FDx Advisors Inc. acquired a new position in shares of Tyler Technologies in the 3rd quarter worth approximately $562,000. Swiss National Bank increased its stake in Tyler Technologies by 1.0% during the 3rd quarter. Swiss National Bank now owns 58,858 shares of the technology company’s stock worth $10,260,000 after buying an additional 600 shares during the period. Principal Financial Group Inc. increased its stake in Tyler Technologies by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 148,112 shares of the technology company’s stock worth $25,819,000 after buying an additional 3,615 shares during the period. Oregon Public Employees Retirement Fund increased its stake in Tyler Technologies by 4.9% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 12,941 shares of the technology company’s stock worth $2,256,000 after buying an additional 609 shares during the period. Finally, Prudential Financial Inc. increased its stake in Tyler Technologies by 3.6% during the 3rd quarter. Prudential Financial Inc. now owns 24,314 shares of the technology company’s stock worth $4,238,000 after buying an additional 855 shares during the period. Hedge funds and other institutional investors own 90.92% of the company’s stock.
In other Tyler Technologies news, Director Luther King, Jr. sold 1,500 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $176.95, for a total value of $265,425.00. Following the sale, the director now directly owns 72,864 shares of the company’s stock, valued at approximately $12,893,284.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Dustin R. Womble sold 8,100 shares of the stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $172.15, for a total transaction of $1,394,415.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 245,976 shares of company stock worth $42,347,844. Insiders own 10.30% of the company’s stock.
Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, October 25th. The technology company reported $1.05 EPS for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.03. Tyler Technologies had a net margin of 16.34% and a return on equity of 12.81%. The company had revenue of $214.15 million for the quarter, compared to the consensus estimate of $216.80 million. During the same period in the prior year, the firm posted $0.94 EPS. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. analysts anticipate that Tyler Technologies, Inc. will post 3.27 EPS for the current year.
Several brokerages recently weighed in on TYL. B. Riley reaffirmed a “buy” rating and set a $184.00 target price on shares of Tyler Technologies in a research note on Friday, July 28th. Maxim Group set a $197.00 target price on shares of Tyler Technologies and gave the stock a “buy” rating in a research note on Thursday, July 27th. Zacks Investment Research raised shares of Tyler Technologies from a “hold” rating to a “buy” rating and set a $198.00 target price on the stock in a research note on Wednesday, November 1st. KeyCorp reaffirmed a “buy” rating and set a $180.00 target price on shares of Tyler Technologies in a research note on Friday, October 6th. Finally, Citigroup Inc. began coverage on shares of Tyler Technologies in a research note on Friday, September 22nd. They set a “buy” rating and a $200.00 target price on the stock. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $193.00.
Tyler Technologies Company Profile
Tyler Technologies, Inc is a provider of information management solutions and services for the public sector, with a focus on local governments. The Company operates through two segments: Enterprise Software (ES) segment and The Appraisal and Tax (A&T) segment. ES segment provides municipal and county governments and schools with software systems and services for information technology and automation needs that includes back-office functions, such as financial management, courts and justice processes, public safety, planning regulatory and maintenance, and land and vital records management.
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