Mutual of America Capital Management LLC raised its stake in Tyler Technologies, Inc. (NYSE:TYL) by 1.4% during the first quarter, Holdings Channel reports. The fund owned 26,365 shares of the technology company’s stock after buying an additional 360 shares during the period. Mutual of America Capital Management LLC’s holdings in Tyler Technologies were worth $4,075,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of TYL. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Tyler Technologies by 32.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,298 shares of the technology company’s stock valued at $201,000 after buying an additional 317 shares during the last quarter. New England Research & Management Inc. acquired a new position in shares of Tyler Technologies during the first quarter valued at approximately $201,000. Massmutual Trust Co. FSB ADV acquired a new position in shares of Tyler Technologies during the fourth quarter valued at approximately $186,000. Capital Analysts LLC increased its position in shares of Tyler Technologies by 27.3% in the fourth quarter. Capital Analysts LLC now owns 1,470 shares of the technology company’s stock valued at $210,000 after buying an additional 315 shares during the last quarter. Finally, Pennsylvania Trust Co acquired a new position in shares of Tyler Technologies during the first quarter valued at approximately $239,000. 86.37% of the stock is owned by hedge funds and other institutional investors.
Tyler Technologies, Inc. (NYSE:TYL) traded up 1.80% on Friday, hitting $169.17. The stock had a trading volume of 156,281 shares. Tyler Technologies, Inc. has a 1-year low of $139.61 and a 1-year high of $175.77. The company has a 50-day moving average price of $160.74 and a 200-day moving average price of $153.44. The stock has a market capitalization of $6.27 billion, a price-to-earnings ratio of 53.18 and a beta of 1.00.
Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, April 26th. The technology company reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.01. The company had revenue of $199.54 million during the quarter, compared to the consensus estimate of $199.76 million. Tyler Technologies had a return on equity of 13.50% and a net margin of 11.83%. Tyler Technologies’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 EPS. Equities analysts predict that Tyler Technologies, Inc. will post $3.88 earnings per share for the current year.
Several brokerages have commented on TYL. B. Riley reissued a “buy” rating and set a $184.00 target price on shares of Tyler Technologies in a research note on Tuesday, May 9th. Needham & Company LLC reissued a “buy” rating and set a $185.00 target price on shares of Tyler Technologies in a research note on Thursday, February 9th. Maxim Group lowered their target price on Tyler Technologies from $210.00 to $197.00 and set a “buy” rating for the company in a research note on Thursday, February 9th. Finally, Zacks Investment Research raised Tyler Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, April 13th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $184.60.
In related news, CEO John S. Marr, Jr. sold 23,960 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $167.69, for a total value of $4,017,852.40. Following the completion of the sale, the chief executive officer now owns 355,437 shares in the company, valued at approximately $59,603,230.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Larry D. Leinweber sold 28,056 shares of the business’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $155.82, for a total value of $4,371,685.92. The disclosure for this sale can be found here. Insiders sold a total of 653,315 shares of company stock valued at $103,985,957 in the last 90 days. 12.00% of the stock is currently owned by corporate insiders.
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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