Citigroup Inc. Grows Position in Tyler Technologies, Inc. (TYL)
Citigroup Inc. increased its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 9.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,482 shares of the technology company’s stock after acquiring an additional 206 shares during the quarter. Citigroup Inc.’s holdings in Tyler Technologies were worth $435,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in Tyler Technologies by 2.0% in the second quarter. BlackRock Inc. now owns 2,793,116 shares of the technology company’s stock worth $490,668,000 after acquiring an additional 55,453 shares during the period. Vanguard Group Inc. lifted its stake in Tyler Technologies by 5.3% in the first quarter. Vanguard Group Inc. now owns 2,653,514 shares of the technology company’s stock worth $410,127,000 after acquiring an additional 134,200 shares during the period. Janus Capital Management LLC lifted its stake in Tyler Technologies by 11.8% in the first quarter. Janus Capital Management LLC now owns 1,509,335 shares of the technology company’s stock worth $233,283,000 after acquiring an additional 159,345 shares during the period. JPMorgan Chase & Co. lifted its stake in Tyler Technologies by 40.2% in the second quarter. JPMorgan Chase & Co. now owns 1,027,797 shares of the technology company’s stock worth $180,554,000 after acquiring an additional 294,817 shares during the period. Finally, State Street Corp lifted its stake in Tyler Technologies by 2.8% in the first quarter. State Street Corp now owns 861,673 shares of the technology company’s stock worth $133,180,000 after acquiring an additional 23,770 shares during the period. 90.51% of the stock is owned by institutional investors.
Tyler Technologies, Inc. (TYL) opened at 179.51 on Friday. The company has a market capitalization of $6.70 billion, a P/E ratio of 53.78 and a beta of 0.93. The firm has a 50-day moving average of $172.69 and a 200-day moving average of $169.27. Tyler Technologies, Inc. has a one year low of $139.61 and a one year high of $182.49.
Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, July 26th. The technology company reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.03). The company had revenue of $209.12 million during the quarter, compared to analysts’ expectations of $210.67 million. Tyler Technologies had a net margin of 14.73% and a return on equity of 13.02%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.86 EPS. On average, analysts anticipate that Tyler Technologies, Inc. will post $3.86 earnings per share for the current year.
In other news, VP Brian K. Miller sold 1,848 shares of Tyler Technologies stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $172.58, for a total value of $318,927.84. Following the completion of the transaction, the vice president now owns 52,657 shares in the company, valued at approximately $9,087,545.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John S. Marr, Jr. sold 24,627 shares of Tyler Technologies stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $170.23, for a total value of $4,192,254.21. Following the completion of the transaction, the chief executive officer now owns 339,457 shares of the company’s stock, valued at approximately $57,785,765.11. The disclosure for this sale can be found here. Insiders sold a total of 243,357 shares of company stock valued at $41,622,109 in the last quarter. Company insiders own 10.30% of the company’s stock.
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A number of analysts recently weighed in on TYL shares. Zacks Investment Research lowered shares of Tyler Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 13th. Maxim Group set a $197.00 price objective on shares of Tyler Technologies and gave the stock a “buy” rating in a research note on Monday, July 17th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Tyler Technologies in a research note on Sunday, August 27th. Citigroup Inc. started coverage on shares of Tyler Technologies in a research note on Friday, September 22nd. They issued a “buy” rating and a $200.00 price objective for the company. Finally, BidaskClub lowered shares of Tyler Technologies from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $192.29.
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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