Kornitzer Capital Management Inc. KS reduced its stake in shares of Tyler Technologies, Inc. (NYSE:TYL – Free Report) by 11.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,598 shares of the technology company’s stock after selling 3,545 shares during the quarter. Kornitzer Capital Management Inc. KS owned 0.06% of Tyler Technologies worth $15,526,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of TYL. QRG Capital Management Inc. grew its holdings in shares of Tyler Technologies by 21.1% in the third quarter. QRG Capital Management Inc. now owns 940 shares of the technology company’s stock worth $549,000 after purchasing an additional 164 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Tyler Technologies by 626.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 42,450 shares of the technology company’s stock valued at $24,779,000 after buying an additional 36,605 shares during the period. Americana Partners LLC bought a new stake in Tyler Technologies in the 3rd quarter worth $385,000. Conestoga Capital Advisors LLC grew its holdings in Tyler Technologies by 0.8% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 88,031 shares of the technology company’s stock worth $51,385,000 after acquiring an additional 690 shares during the last quarter. Finally, Stephens Inc. AR increased its position in shares of Tyler Technologies by 1.5% in the third quarter. Stephens Inc. AR now owns 3,196 shares of the technology company’s stock valued at $1,866,000 after acquiring an additional 47 shares during the period. 93.30% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on TYL. DA Davidson increased their target price on shares of Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Barclays increased their price objective on Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. The Goldman Sachs Group reissued a “buy” rating and set a $627.00 target price on shares of Tyler Technologies in a research note on Friday, September 13th. Piper Sandler raised their price target on Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, Wells Fargo & Company boosted their price objective on shares of Tyler Technologies from $580.00 to $600.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Tyler Technologies presently has an average rating of “Moderate Buy” and an average price target of $642.62.
Tyler Technologies Stock Up 1.4 %
Shares of TYL stock traded up $8.61 during mid-day trading on Thursday, reaching $611.81. 26,613 shares of the company’s stock traded hands, compared to its average volume of 227,774. Tyler Technologies, Inc. has a 12 month low of $397.80 and a 12 month high of $631.43. The company has a market cap of $26.19 billion, a P/E ratio of 110.07, a P/E/G ratio of 5.42 and a beta of 0.77. The company’s 50-day moving average price is $589.67 and its 200-day moving average price is $538.62. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18.
Tyler Technologies (NYSE:TYL – Get Free Report) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.43 by $0.09. The business had revenue of $543.34 million for the quarter, compared to the consensus estimate of $547.34 million. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.66 earnings per share. On average, equities analysts expect that Tyler Technologies, Inc. will post 7.39 earnings per share for the current fiscal year.
Insider Buying and Selling at Tyler Technologies
In other news, insider John S. Marr, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $578.94, for a total transaction of $2,894,700.00. Following the sale, the insider now owns 6,983 shares of the company’s stock, valued at $4,042,738.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Glenn A. Carter sold 3,350 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $582.57, for a total value of $1,951,609.50. Following the completion of the sale, the director now directly owns 2,654 shares of the company’s stock, valued at $1,546,140.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John S. Marr, Jr. sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $578.94, for a total transaction of $2,894,700.00. Following the transaction, the insider now owns 6,983 shares in the company, valued at approximately $4,042,738.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,850 shares of company stock worth $12,151,735. Insiders own 1.50% of the company’s stock.
Tyler Technologies Company 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.
Featured Stories
- Five stocks we like better than Tyler Technologies
- What is the Nikkei 225 index?
- Breakout Alert: Qualcomm Just Hit The Rally Button
- Stock Splits, Do They Really Impact Investors?
- Mercado Libre Shares Go on Sale: Is Now the Time to Buy?
- P/E Ratio Calculation: How to Assess Stocks
- Atlassian Is Up +60% in Three Months—What’s Causing the Rally?
Want to see what other hedge funds are holding TYL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tyler Technologies, Inc. (NYSE:TYL – Free Report).
Receive News & Ratings for Tyler Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tyler Technologies and related companies with MarketBeat.com's FREE daily email newsletter.