Needham & Company LLC assumed coverage on shares of GTY Technology (NASDAQ:GTYH) in a research report sent to investors on Tuesday, Benzinga reports. The firm issued a buy rating and a $10.00 price objective on the stock.
Separately, ValuEngine cut Universal Electronics from a strong-buy rating to a buy rating in a research note on Thursday, June 6th.
Shares of GTY Technology stock opened at $6.68 on Tuesday. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.01. GTY Technology has a 52 week low of $6.16 and a 52 week high of $12.24. The firm has a 50 day moving average price of $7.70.
Institutional investors have recently made changes to their positions in the business. Stifel Financial Corp acquired a new stake in GTY Technology in the fourth quarter valued at approximately $779,000. Keeley Teton Advisors LLC acquired a new stake in GTY Technology in the first quarter valued at approximately $5,365,000. Finally, Janus Henderson Group PLC grew its stake in GTY Technology by 101.5% in the first quarter. Janus Henderson Group PLC now owns 3,301,916 shares of the company’s stock valued at $29,057,000 after acquiring an additional 1,663,444 shares during the period. 22.92% of the stock is owned by hedge funds and other institutional investors.
About GTY Technology
GTY Technology Holdings Inc provides cloud-based suite of solutions for state and local governments in North America. The company develops software technologies for the procurement and vendor or supplier sourcing industry in government, public sector, and various highly-regulated commercial vertical markets; content, digital, and integrated payment services via a software-as-a-service platform for government agencies and utility companies.
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