Russell Investments Group Ltd. Buys 4,140 Shares of Tyler Technologies, Inc. (TYL)
Russell Investments Group Ltd. increased its position in Tyler Technologies, Inc. (NYSE:TYL) by 5.5% during the second quarter, Holdings Channel reports. The firm owned 78,999 shares of the technology company’s stock after buying an additional 4,140 shares during the period. Russell Investments Group Ltd.’s holdings in Tyler Technologies were worth $13,878,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in TYL. Assetmark Inc. increased its stake in Tyler Technologies by 15.1% in the first quarter. Assetmark Inc. now owns 761 shares of the technology company’s stock worth $118,000 after buying an additional 100 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased 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 worth $201,000 after buying an additional 317 shares in the last quarter. Pennsylvania Trust Co acquired a new stake in Tyler Technologies during the first quarter worth approximately $239,000. Dynamic Technology Lab Private Ltd acquired a new stake in Tyler Technologies during the first quarter worth approximately $242,000. Finally, Sheets Smith Wealth Management acquired a new stake in Tyler Technologies during the second quarter worth approximately $296,000. 89.77% of the stock is currently owned by institutional investors.
Tyler Technologies, Inc. (NYSE:TYL) traded up 1.47% during midday trading on Friday, reaching $170.21. The company’s stock had a trading volume of 133,451 shares. Tyler Technologies, Inc. has a 1-year low of $139.61 and a 1-year high of $182.49. The firm has a market cap of $6.35 billion, a price-to-earnings ratio of 50.99 and a beta of 0.95. The company has a 50 day moving average price of $173.66 and a 200 day moving average price of $162.89.
Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, July 26th. The technology company reported $0.91 EPS for the quarter, missing the consensus estimate of $0.94 by $0.03. Tyler Technologies had a net margin of 15.10% and a return on equity of 12.77%. The company had revenue of $209.12 million during the quarter, compared to analysts’ expectations of $210.67 million. During the same period last year, the business earned $0.86 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities research analysts expect that Tyler Technologies, Inc. will post $3.87 EPS for the current year.
A number of equities research analysts have commented on TYL shares. B. Riley restated a “buy” rating and issued a $184.00 target price on shares of Tyler Technologies in a research report on Tuesday, May 9th. BidaskClub downgraded Tyler Technologies from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research upgraded Tyler Technologies from a “hold” rating to a “strong-buy” rating and set a $201.00 target price on the stock in a research report on Thursday, June 29th. Finally, Maxim Group set a $197.00 target price on Tyler Technologies and gave the company a “buy” rating in a research report on Monday, July 17th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $187.17.
In other news, CEO John S. Marr, Jr. sold 23,960 shares of Tyler Technologies stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $167.69, for a total transaction of $4,017,852.40. Following the sale, the chief executive officer now directly owns 355,437 shares of the company’s stock, valued at $59,603,230.53. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Brian K. Miller sold 1,240 shares of Tyler Technologies stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $174.50, for a total value of $216,380.00. Following the sale, the vice president now directly owns 47,989 shares in the company, valued at $8,374,080.50. The disclosure for this sale can be found here. Insiders sold 237,253 shares of company stock worth $40,508,996 over the last three months. 10.30% of the stock is currently owned by corporate insiders.
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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