Security Asset Management reduced its position in Tyler Technologies, Inc. (NYSE:TYL – Free Report) by 27.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,591 shares of the technology company’s stock after selling 2,469 shares during the quarter. Security Asset Management’s holdings in Tyler Technologies were worth $2,337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also bought and sold shares of TYL. Norges Bank purchased a new position in shares of Tyler Technologies in the fourth quarter valued at $164,642,000. Alliancebernstein L.P. grew its position in shares of Tyler Technologies by 26.3% in the fourth quarter. Alliancebernstein L.P. now owns 1,719,257 shares of the technology company’s stock valued at $554,306,000 after purchasing an additional 357,779 shares in the last quarter. Select Equity Group L.P. purchased a new position in shares of Tyler Technologies in the fourth quarter valued at $52,497,000. Artisan Partners Limited Partnership grew its position in shares of Tyler Technologies by 27.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 750,464 shares of the technology company’s stock valued at $241,957,000 after purchasing an additional 159,618 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in shares of Tyler Technologies in the first quarter valued at $41,350,000. 91.28% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the company. Needham & Company LLC reiterated a “buy” rating and issued a $475.00 price target on shares of Tyler Technologies in a research report on Thursday, July 27th. JPMorgan Chase & Co. began coverage on Tyler Technologies in a research report on Wednesday, June 21st. They set an “overweight” rating and a $472.00 target price for the company. DA Davidson boosted their target price on Tyler Technologies from $395.00 to $412.00 in a research report on Wednesday, July 19th. Barclays boosted their target price on Tyler Technologies from $400.00 to $425.00 and gave the stock an “equal weight” rating in a research report on Friday, July 14th. Finally, Robert W. Baird boosted their target price on Tyler Technologies from $470.00 to $475.00 in a research report on Friday, July 28th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $440.29.
View Our Latest Stock Analysis on Tyler Technologies
Tyler Technologies Price Performance
TYL stock traded down $0.08 during mid-day trading on Wednesday, hitting $392.05. 51,458 shares of the stock were exchanged, compared to its average volume of 249,086. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 1.00. The business has a fifty day moving average price of $396.50 and a 200 day moving average price of $376.45. Tyler Technologies, Inc. has a 12 month low of $281.11 and a 12 month high of $426.83. The stock has a market capitalization of $16.50 billion, a price-to-earnings ratio of 101.33 and a beta of 0.81.
Tyler Technologies (NYSE:TYL – Get Free Report) last issued its quarterly earnings results on Wednesday, July 26th. The technology company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.17. Tyler Technologies had a return on equity of 8.94% and a net margin of 8.64%. The firm had revenue of $504.28 million during the quarter, compared to analyst estimates of $490.65 million. On average, sell-side analysts anticipate that Tyler Technologies, Inc. will post 5.67 EPS for the current year.
Insider Activity
In other news, Director Dustin R. Womble sold 2,111 shares of the business’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $396.87, for a total value of $837,792.57. Following the completion of the sale, the director now owns 12,805 shares of the company’s stock, valued at approximately $5,081,920.35. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Mary L. Landrieu sold 325 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $388.44, for a total value of $126,243.00. Following the completion of the sale, the director now owns 1,786 shares of the company’s stock, valued at approximately $693,753.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Dustin R. Womble sold 2,111 shares of the business’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $396.87, for a total value of $837,792.57. Following the completion of the sale, the director now directly owns 12,805 shares of the company’s stock, valued at approximately $5,081,920.35. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.
Tyler Technologies Profile
Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. It operates in two segments, Enterprise Software, and Platform Technologies. The company offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; student information and transportation solutions for K-12 schools; and financial management systems.
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