Nationwide Fund Advisors Trims Holdings in Tyler Technologies, Inc. (TYL)
Nationwide Fund Advisors decreased its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 0.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 366,881 shares of the technology company’s stock after selling 543 shares during the quarter. Nationwide Fund Advisors owned approximately 0.98% of Tyler Technologies worth $64,450,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of TYL. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Tyler Technologies by 32.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,298 shares of the technology company’s stock valued at $201,000 after acquiring an additional 317 shares during the last quarter. YHB Investment Advisors Inc. bought a new stake in shares of Tyler Technologies during the 2nd quarter valued at $209,000. Lakeview Capital Partners LLC bought a new stake in shares of Tyler Technologies during the 2nd quarter valued at $211,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Tyler Technologies during the 1st quarter valued at $242,000. Finally, Fiduciary Trust Co. bought a new stake in shares of Tyler Technologies during the 2nd quarter valued at $250,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have commented on TYL shares. BidaskClub upgraded shares of Tyler Technologies from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 23rd. Zacks Investment Research upgraded shares of Tyler Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Piper Jaffray Companies reiterated a “buy” rating and set a $200.00 target price on shares of Tyler Technologies in a research report on Sunday, August 27th. Maxim Group set a $197.00 target price on shares of Tyler Technologies and gave the company a “buy” rating in a research report on Monday, July 17th. Finally, B. Riley reiterated a “buy” rating and set a $184.00 target price on shares of Tyler Technologies in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $193.40.
In other news, Director Larry D. Leinweber sold 36,000 shares of Tyler Technologies stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $170.98, for a total transaction of $6,155,280.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President H Lynn Moore, Jr. sold 12,000 shares of Tyler Technologies stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $170.13, for a total transaction of $2,041,560.00. Following the transaction, the president now owns 67,257 shares in the company, valued at approximately $11,442,433.41. The disclosure for this sale can be found here. In the last quarter, insiders have sold 269,597 shares of company stock worth $46,127,851. 10.30% of the stock is owned by company insiders.
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Shares of Tyler Technologies, Inc. (NYSE:TYL) traded down 0.19% during mid-day trading on Thursday, hitting $169.25. 32,280 shares of the company’s stock traded hands. The company has a market cap of $6.31 billion, a PE ratio of 50.70 and a beta of 0.95. Tyler Technologies, Inc. has a 52 week low of $139.61 and a 52 week high of $182.49. The firm has a 50-day moving average of $171.01 and a 200 day moving average of $166.18.
Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.03). The business had revenue of $209.12 million for the quarter, compared to analyst estimates of $210.67 million. Tyler Technologies had a return on equity of 13.02% and a net margin of 14.73%. Tyler Technologies’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.86 EPS. Equities research analysts predict that Tyler Technologies, Inc. will post $3.87 EPS for the current year.
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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