LMR Partners LLP acquired a new position in Tyler Technologies Inc. (NYSE:TYL) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 23,089 shares of the company’s stock, valued at approximately $3,849,000. Tyler Technologies comprises 0.6% of LMR Partners LLP’s holdings, making the stock its 25th largest position.
Other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of Tyler Technologies by 96.5% in the first quarter. JPMorgan Chase & Co. now owns 384,327 shares of the company’s stock worth $49,429,000 after buying an additional 188,696 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Tyler Technologies by 66.4% in the first quarter. Goldman Sachs Group Inc. now owns 378,280 shares of the company’s stock worth $48,651,000 after buying an additional 150,951 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Tyler Technologies by 33.0% in the first quarter. Franklin Resources Inc. now owns 563,004 shares of the company’s stock worth $72,408,000 after buying an additional 139,651 shares in the last quarter. RGM Capital LLC raised its position in shares of Tyler Technologies by 48.5% in the first quarter. RGM Capital LLC now owns 308,582 shares of the company’s stock worth $39,687,000 after buying an additional 100,841 shares in the last quarter. Finally, Strs Ohio raised its position in shares of Tyler Technologies by 46.1% in the second quarter. Strs Ohio now owns 176,100 shares of the company’s stock worth $29,357,000 after buying an additional 55,600 shares in the last quarter. 90.95% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Tyler Technologies Inc. (NYSE:TYL) traded down 0.0472% during mid-day trading on Tuesday, reaching $170.4395. The company’s stock had a trading volume of 139,644 shares. The company has a market capitalization of $6.19 billion, a PE ratio of 99.3237 and a beta of 1.28. Tyler Technologies Inc. has a 52-week low of $118.16 and a 52-week high of $184.01. The firm’s 50 day moving average is $168.29 and its 200-day moving average is $155.22.
Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.03. Tyler Technologies had a return on equity of 13.07% and a net margin of 9.54%. The company earned $188.97 million during the quarter, compared to analyst estimates of $192.12 million. During the same quarter in the previous year, the firm posted $0.65 EPS. The firm’s quarterly revenue was up 29.2% on a year-over-year basis. Analysts forecast that Tyler Technologies Inc. will post $3.48 EPS for the current year.
TYL has been the topic of a number of recent analyst reports. Evercore Partners Inc. raised Tyler Technologies to a “buy” rating in a report on Monday, June 27th. Maxim Group upped their target price on Tyler Technologies from $196.00 to $206.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Piper Jaffray Cos. began coverage on Tyler Technologies in a report on Monday, July 25th. They issued an “overweight” rating and a $200.00 target price on the stock. Zacks Investment Research raised Tyler Technologies from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a report on Thursday, August 4th. Finally, Pacific Crest reissued a “buy” rating on shares of Tyler Technologies in a report on Thursday, June 23rd. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $179.16.
In other news, CFO Brian K. Miller sold 6,485 shares of the business’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $173.01, for a total value of $1,121,969.85. Following the sale, the chief financial officer now owns 52,775 shares of the company’s stock, valued at approximately $9,130,602.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Luther King, Jr. sold 1,800 shares of the business’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $160.76, for a total value of $289,368.00. Following the completion of the sale, the director now directly owns 72,864 shares in the company, valued at approximately $11,713,616.64. The disclosure for this sale can be found here. Company insiders own 12.00% of the company’s stock.
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 provides professional information technology (IT) services to its clients, including software and hardware installation, data conversion, training and product modifications.
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