American International Group Inc. lowered its stake in shares of Tyler Technologies, Inc. (NYSE:TYL – Free Report) by 1.2% during the first quarter, Holdings Channel reports. The fund owned 12,720 shares of the technology company’s stock after selling 155 shares during the period. American International Group Inc.’s holdings in Tyler Technologies were worth $5,406,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of TYL. Bessemer Group Inc. boosted its stake in shares of Tyler Technologies by 39.4% in the 1st quarter. Bessemer Group Inc. now owns 6,840 shares of the technology company’s stock valued at $2,906,000 after buying an additional 1,935 shares during the period. UniSuper Management Pty Ltd lifted its stake in Tyler Technologies by 47.1% in the first quarter. UniSuper Management Pty Ltd now owns 7,596 shares of the technology company’s stock worth $3,228,000 after acquiring an additional 2,431 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in Tyler Technologies by 143.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,794 shares of the technology company’s stock worth $762,000 after acquiring an additional 1,058 shares in the last quarter. Davis R M Inc. increased its position in shares of Tyler Technologies by 85.8% in the 1st quarter. Davis R M Inc. now owns 2,165 shares of the technology company’s stock valued at $920,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Covestor Ltd grew its stake in shares of Tyler Technologies by 153.6% during the first quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after purchasing an additional 43 shares in the last quarter. 93.30% of the stock is currently owned by hedge funds and other institutional investors.
Tyler Technologies Price Performance
Shares of NYSE TYL opened at $590.65 on Friday. The stock has a fifty day moving average price of $499.37 and a 200 day moving average price of $456.77. Tyler Technologies, Inc. has a 1-year low of $361.16 and a 1-year high of $593.50. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.06 and a quick ratio of 0.94. The company has a market cap of $25.08 billion, a PE ratio of 133.63, a P/E/G ratio of 5.30 and a beta of 0.76.
Tyler Technologies (NYSE:TYL – Get Free Report) last issued its earnings results on Wednesday, July 24th. The technology company reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.06. The business had revenue of $540.98 million for the quarter, compared to the consensus estimate of $541.01 million. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.53 earnings per share. Sell-side analysts forecast that Tyler Technologies, Inc. will post 7.1 EPS for the current year.
Analysts Set New Price Targets
A number of brokerages have issued reports on TYL. JMP Securities lifted their price target on Tyler Technologies from $490.00 to $580.00 and gave the stock a “market outperform” rating in a report on Monday, July 22nd. Oppenheimer increased their price target on shares of Tyler Technologies from $550.00 to $625.00 and gave the company an “outperform” rating in a research note on Friday. Robert W. Baird upped their target price on shares of Tyler Technologies from $500.00 to $525.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Needham & Company LLC reissued a “buy” rating and issued a $600.00 price target on shares of Tyler Technologies in a research report on Thursday. Finally, Truist Financial reaffirmed a “buy” rating and set a $600.00 price objective (up previously from $560.00) on shares of Tyler Technologies in a report on Friday. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $582.31.
View Our Latest Stock Analysis on TYL
Insider Transactions at Tyler Technologies
In related news, Director Brenda A. Cline sold 5,000 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $458.83, for a total transaction of $2,294,150.00. Following the transaction, the director now owns 1,358 shares of the company’s stock, valued at $623,091.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Brenda A. Cline sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $458.83, for a total transaction of $2,294,150.00. Following the sale, the director now owns 1,358 shares of the company’s stock, valued at approximately $623,091.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $483.21, for a total value of $2,899,260.00. Following the completion of the transaction, the insider now directly owns 6,983 shares of the company’s stock, valued at $3,374,255.43. The disclosure for this sale can be found here. In the last three months, insiders sold 26,241 shares of company stock valued at $12,495,890. Corporate insiders own 2.20% of the company’s stock.
Tyler Technologies Profile
Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. It operates in two segments, Enterprise Software and Platform Technologies. The company offers platform and transformative technology solutions, including cybersecurity for government agencies; data and insights solutions; digital solutions that helps workers and policymakers to share, communicate, and leverage data; payments solutions, such as billing, presentment, merchant onboarding, collections, reconciliation, and disbursements; platform technologies, an application development platform that enables government workers to build solutions and applications; and outdoor recreation solutions, including campsite reservations, activity registrations, licensing sales and renewals, and real-time data for conservation and park management.
See Also
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