Vanguard Group Inc. decreased its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 0.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,406,704 shares of the technology company’s stock after selling 1,988 shares during the quarter. Vanguard Group Inc. owned 0.09% of Tyler Technologies worth $735,915,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also added to or reduced their stakes in the business. Envestnet Asset Management Inc. increased its stake in shares of Tyler Technologies by 29.3% during the second quarter. Envestnet Asset Management Inc. now owns 59,202 shares of the technology company’s stock worth $12,789,000 after purchasing an additional 13,400 shares during the period. Waratah Capital Advisors Ltd. bought a new position in shares of Tyler Technologies during the second quarter worth approximately $3,792,000. Capital Investment Services of America Inc. increased its stake in shares of Tyler Technologies by 13.5% during the second quarter. Capital Investment Services of America Inc. now owns 57,864 shares of the technology company’s stock worth $12,500,000 after purchasing an additional 6,895 shares during the period. M&T Bank Corp increased its stake in shares of Tyler Technologies by 23.9% during the second quarter. M&T Bank Corp now owns 1,484 shares of the technology company’s stock worth $320,000 after purchasing an additional 286 shares during the period. Finally, California State Teachers Retirement System increased its stake in shares of Tyler Technologies by 0.4% during the first quarter. California State Teachers Retirement System now owns 60,436 shares of the technology company’s stock worth $12,353,000 after purchasing an additional 237 shares during the period. Hedge funds and other institutional investors own 87.69% of the company’s stock.
A number of brokerages have recently weighed in on TYL. Northland Securities reiterated a “buy” rating on shares of Tyler Technologies in a research note on Thursday, August 1st. KeyCorp reissued a “hold” rating on shares of Tyler Technologies in a research report on Thursday, August 1st. ValuEngine raised Tyler Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, July 2nd. Needham & Company LLC increased their price target on Tyler Technologies to $280.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Benchmark increased their price target on Tyler Technologies from $235.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Tyler Technologies has a consensus rating of “Buy” and an average target price of $249.50.
NYSE:TYL traded up $6.02 during trading hours on Wednesday, reaching $262.68. 5,427 shares of the company were exchanged, compared to its average volume of 201,413. The company has a market capitalization of $9.97 billion, a P/E ratio of 70.04 and a beta of 0.91. Tyler Technologies, Inc. has a 1-year low of $173.26 and a 1-year high of $263.88. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.00 and a quick ratio of 1.00. The business has a 50 day moving average of $255.52 and a 200 day moving average of $226.63.
Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.05. The business had revenue of $275.10 million for the quarter, compared to the consensus estimate of $274.88 million. Tyler Technologies had a return on equity of 11.44% and a net margin of 12.96%. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.18 earnings per share. As a group, equities research analysts anticipate that Tyler Technologies, Inc. will post 4.19 earnings per share for the current fiscal year.
Tyler Technologies Company Profile
Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. The company operates in two segments, Enterprise Software, and Appraisal and Tax. It 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; and student information and transportation solutions for K-12 schools.
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