Granite Investment Partners LLC Has $4.36 Million Position in Tyler Technologies, Inc. (TYL)
Granite Investment Partners LLC boosted its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 33.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,827 shares of the technology company’s stock after buying an additional 6,170 shares during the period. Granite Investment Partners LLC’s holdings in Tyler Technologies were worth $4,361,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Assetmark Inc. raised its stake in Tyler Technologies by 15.1% in the first quarter. Assetmark Inc. now owns 761 shares of the technology company’s stock valued at $118,000 after buying an additional 100 shares during the last quarter. YHB Investment Advisors Inc. purchased a new stake in Tyler Technologies during the second quarter valued at approximately $209,000. Lakeview Capital Partners LLC purchased a new stake in Tyler Technologies during the second quarter valued at approximately $211,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Tyler Technologies by 32.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,298 shares of the technology company’s stock valued at $201,000 after buying an additional 317 shares during the last quarter. Finally, Pennsylvania Trust Co purchased a new stake in Tyler Technologies during the first quarter valued at approximately $239,000. 89.77% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Tyler Technologies, Inc. (TYL) opened at 167.74 on Friday. The firm has a market cap of $6.26 billion, a P/E ratio of 50.25 and a beta of 0.95. Tyler Technologies, Inc. has a 12-month low of $139.61 and a 12-month high of $182.49. The company has a 50-day moving average of $173.66 and a 200 day moving average of $162.89.
Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.91 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.94 by $0.03. The company had revenue of $209.12 million for the quarter, compared to analysts’ expectations of $210.67 million. Tyler Technologies had a return on equity of 12.77% and a net margin of 15.10%. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.86 EPS. Equities research analysts anticipate that Tyler Technologies, Inc. will post $3.87 earnings per share for the current fiscal year.
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Several research firms have recently commented on TYL. B. Riley reaffirmed a “buy” rating and set a $184.00 price target on shares of Tyler Technologies in a research report on Tuesday, May 9th. Zacks Investment Research downgraded shares of Tyler Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. BidaskClub downgraded shares of Tyler Technologies from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, Maxim Group set a $197.00 target price on shares of Tyler Technologies and gave the company a “buy” rating in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. Tyler Technologies currently has an average rating of “Buy” and an average target price of $187.17.
In other Tyler Technologies news, Director Larry D. Leinweber sold 19,021 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $170.18, for a total transaction of $3,236,993.78. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Brian K. Miller sold 1,240 shares of the stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $174.50, for a total transaction of $216,380.00. Following the transaction, the vice president now directly owns 47,989 shares in the company, valued at approximately $8,374,080.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 234,753 shares of company stock worth $40,089,621. 10.30% of the stock is currently owned by insiders.
About Tyler Technologies
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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