Northern Trust Corp Has $52.93 Million Stake in Tyler Technologies, Inc. (TYL)
Northern Trust Corp lessened its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 1.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 301,320 shares of the technology company’s stock after selling 4,688 shares during the quarter. Northern Trust Corp owned about 0.81% of Tyler Technologies worth $52,933,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. YHB Investment Advisors Inc. purchased a new stake in shares of Tyler Technologies during the second quarter worth approximately $209,000. Lakeview Capital Partners LLC purchased a new stake in shares of Tyler Technologies during the second quarter worth approximately $211,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Tyler Technologies during the first quarter worth approximately $242,000. D.A. Davidson & CO. raised its stake in shares of Tyler Technologies by 13.3% during the second quarter. D.A. Davidson & CO. now owns 1,391 shares of the technology company’s stock worth $244,000 after purchasing an additional 163 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Tyler Technologies by 8.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,412 shares of the technology company’s stock worth $248,000 after purchasing an additional 114 shares during the last quarter. Institutional investors and hedge funds own 90.51% of the company’s stock.
TYL has been the subject of several analyst reports. B. Riley restated a “buy” rating and set a $184.00 price target on shares of Tyler Technologies in a research note on Wednesday, August 2nd. KeyCorp reiterated a “buy” rating and issued a $180.00 price objective on shares of Tyler Technologies in a research report on Friday. Citigroup Inc. began coverage on Tyler Technologies in a research report on Friday, September 22nd. They issued a “buy” rating and a $200.00 price objective for the company. Northland Securities reiterated a “buy” rating and issued a $200.00 price objective on shares of Tyler Technologies in a research report on Thursday, September 21st. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $200.00 price objective on shares of Tyler Technologies in a research report on Sunday, August 27th. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $192.29.
In other news, Director Larry D. Leinweber sold 36,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $171.82, for a total value of $6,185,520.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John S. Marr, Jr. sold 24,627 shares of the business’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $170.23, for a total value of $4,192,254.21. Following the completion of the sale, the chief executive officer now directly owns 339,457 shares in the company, valued at approximately $57,785,765.11. The disclosure for this sale can be found here. Insiders have sold a total of 243,357 shares of company stock worth $41,622,109 in the last ninety days. 10.30% of the stock is owned by company insiders.
Tyler Technologies, Inc. (TYL) opened at 177.46 on Friday. The firm has a 50-day moving average price of $171.52 and a 200 day moving average price of $168.32. Tyler Technologies, Inc. has a 52-week low of $139.61 and a 52-week high of $182.49. The stock has a market cap of $6.62 billion, a PE ratio of 53.16 and a beta of 0.93.
Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, July 26th. The technology company reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.03). The business had revenue of $209.12 million for the quarter, compared to the consensus estimate of $210.67 million. Tyler Technologies had a net margin of 14.73% and a return on equity of 13.02%. The firm’s revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.86 EPS. Equities analysts anticipate that Tyler Technologies, Inc. will post $3.86 earnings per share for the current year.
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Tyler Technologies 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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