Research analysts at Needham & Company LLC started coverage on shares of GTY Technology (NASDAQ:GTYH) in a research note issued on Tuesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $10.00 price target on the stock. Needham & Company LLC’s price objective points to a potential upside of 48.59% from the company’s previous close.

Separately, ValuEngine lowered Universal Electronics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 6th.

GTY Technology stock traded down $0.05 during trading on Tuesday, hitting $6.73. 2,605 shares of the company were exchanged, compared to its average volume of 168,629. The firm has a 50 day simple moving average of $7.80. GTY Technology has a 52 week low of $6.16 and a 52 week high of $12.24. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.01.

GTY Technology (NASDAQ:GTYH) last issued its quarterly earnings results on Monday, May 13th. The company reported ($0.83) EPS for the quarter. The firm had revenue of $3.03 million during the quarter.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GTYH. Janus Henderson Group PLC lifted its stake in shares of GTY Technology by 101.5% in the 1st quarter. Janus Henderson Group PLC now owns 3,301,916 shares of the company’s stock valued at $29,057,000 after purchasing an additional 1,663,444 shares during the period. Keeley Teton Advisors LLC bought a new stake in shares of GTY Technology in the first quarter worth $5,365,000. Finally, Stifel Financial Corp purchased a new position in GTY Technology during the fourth quarter valued at $779,000. Institutional investors and hedge funds own 22.92% of the company’s stock.

GTY Technology Company Profile

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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