Teacher Retirement System of Texas increased its stake in shares of Tyler Technologies Inc. (NYSE:TYL) by 21.4% during the second quarter, Holdings Channel reports. The fund owned 4,802 shares of the company’s stock after buying an additional 845 shares during the period. Teacher Retirement System of Texas’ holdings in Tyler Technologies were worth $801,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in Tyler Technologies during the fourth quarter valued at $60,842,000. Aperio Group LLC boosted its position in Tyler Technologies by 8.0% in the first quarter. Aperio Group LLC now owns 7,268 shares of the company’s stock valued at $935,000 after buying an additional 536 shares during the last quarter. Virginia Retirement System bought a new position in Tyler Technologies during the first quarter valued at $476,000. Franklin Resources Inc. boosted its position in Tyler Technologies by 33.0% in the first quarter. Franklin Resources Inc. now owns 563,004 shares of the company’s stock valued at $72,408,000 after buying an additional 139,651 shares during the last quarter. Finally, BlackRock Inc. boosted its position in Tyler Technologies by 9.3% in the first quarter. BlackRock Inc. now owns 12,766 shares of the company’s stock valued at $1,642,000 after buying an additional 1,083 shares during the last quarter. 90.95% of the stock is owned by institutional investors.
Shares of Tyler Technologies Inc. (NYSE:TYL) traded down 0.22% during midday trading on Wednesday, reaching $170.96. 31,283 shares of the company were exchanged. Tyler Technologies Inc. has a 52 week low of $118.16 and a 52 week high of $184.01. The firm has a 50-day moving average of $167.41 and a 200 day moving average of $153.89. The firm has a market capitalization of $6.21 billion, a P/E ratio of 99.63 and a beta of 1.20.
Tyler Technologies (NYSE:TYL) last released its 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 net margin of 9.54% and a return on equity of 13.07%. The business earned $188.97 million during the quarter, compared to analyst estimates of $192.12 million. During the same quarter in the prior year, the firm earned $0.65 earnings per share. The company’s revenue for the quarter was up 29.2% compared to the same quarter last year. On average, equities research analysts expect that Tyler Technologies Inc. will post $3.48 EPS for the current year.
TYL has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $160.00 target price on shares of Tyler Technologies in a research note on Friday, June 3rd. Pacific Crest initiated coverage on shares of Tyler Technologies in a research note on Monday, June 20th. They set an “overweight” rating and a $176.00 target price for the company. Evercore ISI raised shares of Tyler Technologies from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a research note on Monday, June 27th. Evercore Partners Inc. raised shares of Tyler Technologies to a “buy” rating in a research note on Monday, June 27th. Finally, Piper Jaffray Cos. assumed coverage on shares of Tyler Technologies in a research note on Monday, July 25th. They issued an “overweight” rating and a $200.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $179.16.
In other news, VP H Lynn Moore, Jr. sold 8,968 shares of the company’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $169.23, for a total transaction of $1,517,654.64. Following the completion of the sale, the vice president now owns 71,683 shares of the company’s stock, valued at $12,130,914.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Luther King, Jr. sold 500 shares of the company’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $160.40, for a total transaction of $80,200.00. Following the sale, the director now directly owns 72,864 shares of the company’s stock, valued at approximately $11,687,385.60. The disclosure for this sale can be found here. Insiders own 12.00% of the company’s stock.
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 provides professional information technology (IT) services to its clients, including software and hardware installation, data conversion, training and product modifications.
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