Eagle Asset Management Inc. Sells 6,334 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Eagle Asset Management Inc. cut its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 1.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 430,839 shares of the technology company’s stock after selling 6,334 shares during the quarter. Eagle Asset Management Inc. owned approximately 1.12% of Tyler Technologies worth $113,095,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Janney Montgomery Scott LLC raised its holdings in Tyler Technologies by 1.0% during the third quarter. Janney Montgomery Scott LLC now owns 3,742 shares of the technology company’s stock valued at $982,000 after acquiring an additional 38 shares during the period. BB&T Securities LLC raised its holdings in Tyler Technologies by 1.5% during the third quarter. BB&T Securities LLC now owns 3,079 shares of the technology company’s stock valued at $815,000 after acquiring an additional 46 shares during the period. Cerebellum GP LLC raised its holdings in Tyler Technologies by 25.0% during the third quarter. Cerebellum GP LLC now owns 250 shares of the technology company’s stock valued at $66,000 after acquiring an additional 50 shares during the period. Zions Bancorporation N.A. raised its holdings in Tyler Technologies by 6.2% during the second quarter. Zions Bancorporation N.A. now owns 971 shares of the technology company’s stock valued at $210,000 after acquiring an additional 57 shares during the period. Finally, Stephens Inc. AR raised its holdings in Tyler Technologies by 1.4% during the second quarter. Stephens Inc. AR now owns 4,153 shares of the technology company’s stock valued at $897,000 after acquiring an additional 58 shares during the period. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently issued reports on TYL. Zacks Investment Research cut Tyler Technologies from a “buy” rating to a “sell” rating in a report on Friday. Benchmark lifted their target price on Tyler Technologies from $235.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. KeyCorp reaffirmed a “hold” rating on shares of Tyler Technologies in a report on Thursday, August 1st. Needham & Company LLC reaffirmed a “buy” rating on shares of Tyler Technologies in a report on Thursday, October 31st. Finally, Northland Securities reaffirmed a “buy” rating on shares of Tyler Technologies in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. Tyler Technologies has an average rating of “Buy” and a consensus price target of $271.25.

In related news, Director Dustin R. Womble sold 2,303 shares of Tyler Technologies stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $252.05, for a total value of $580,471.15. Following the completion of the transaction, the director now owns 180,425 shares in the company, valued at $45,476,121.25. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brian K. Miller sold 2,500 shares of Tyler Technologies stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $258.84, for a total value of $647,100.00. Following the completion of the transaction, the chief financial officer now owns 49,716 shares of the company’s stock, valued at approximately $12,868,489.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,003 shares of company stock valued at $20,604,301. 4.40% of the stock is currently owned by company insiders.

Shares of TYL stock traded up $3.57 during trading hours on Friday, hitting $277.72. The stock had a trading volume of 281,992 shares, compared to its average volume of 236,255. Tyler Technologies, Inc. has a one year low of $173.26 and a one year high of $278.89. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.20 and a quick ratio of 1.20. The stock’s 50-day moving average price is $263.82 and its two-hundred day moving average price is $239.35. The stock has a market capitalization of $10.69 billion, a price-to-earnings ratio of 74.26 and a beta of 0.86.

Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, October 30th. The technology company reported $1.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.36 by ($0.01). Tyler Technologies had a return on equity of 11.51% and a net margin of 12.63%. The firm had revenue of $275.40 million during the quarter, compared to the consensus estimate of $281.03 million. During the same period last year, the firm posted $1.23 earnings per share. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, equities research analysts predict that Tyler Technologies, Inc. will post 4.15 earnings per share for the current fiscal year.

Tyler Technologies 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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Institutional Ownership by Quarter for Tyler Technologies (NYSE:TYL)

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