Tyler Technologies Inc. (TYL) Position Boosted by Brown Advisory Inc.
Brown Advisory Inc. raised its stake in shares of Tyler Technologies Inc. (NYSE:TYL) by 22.1% during the second quarter, Holdings Channel reports. The fund owned 16,501 shares of the company’s stock after buying an additional 2,987 shares during the period. Brown Advisory Inc.’s holdings in Tyler Technologies were worth $2,751,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Teacher Retirement System of Texas boosted its stake in Tyler Technologies by 21.4% in the second quarter. Teacher Retirement System of Texas now owns 4,802 shares of the company’s stock valued at $801,000 after buying an additional 845 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Tyler Technologies by 5.6% in the second quarter. Victory Capital Management Inc. now owns 7,524 shares of the company’s stock worth $1,254,000 after buying an additional 398 shares in the last quarter. Commerce Bank boosted its position in shares of Tyler Technologies by 0.4% in the second quarter. Commerce Bank now owns 6,115 shares of the company’s stock worth $1,020,000 after buying an additional 25 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of Tyler Technologies by 13.4% in the second quarter. UBS Asset Management Americas Inc. now owns 24,217 shares of the company’s stock worth $4,037,000 after buying an additional 2,867 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Tyler Technologies by 11.9% in the second quarter. JPMorgan Chase & Co. now owns 430,252 shares of the company’s stock worth $71,728,000 after buying an additional 45,925 shares in the last quarter. 90.95% of the stock is currently owned by hedge funds and other institutional investors.
Tyler Technologies Inc. (NYSE:TYL) traded up 0.96% during midday trading on Thursday, hitting $174.80. The company had a trading volume of 58,129 shares. The company has a market capitalization of $6.35 billion, a P/E ratio of 101.86 and a beta of 1.20. Tyler Technologies Inc. has a 52 week low of $118.16 and a 52 week high of $184.01. The stock has a 50 day moving average price of $166.05 and a 200 day moving average price of $152.18.
Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, July 27th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. The company had revenue of $188.97 million for the quarter, compared to the consensus estimate of $192.12 million. Tyler Technologies had a return on equity of 13.07% and a net margin of 9.54%. The firm’s revenue for the quarter was up 29.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.65 earnings per share. Equities analysts forecast that Tyler Technologies Inc. will post $3.48 earnings per share for the current fiscal year.
A number of brokerages recently weighed in on TYL. Maxim Group raised their price objective on Tyler Technologies from $196.00 to $206.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Pacific Crest reissued a “buy” rating and set a $178.00 price objective (up from $176.00) on shares of Tyler Technologies in a report on Tuesday, September 13th. Evercore Partners Inc. raised Tyler Technologies to a “buy” rating in a report on Monday, June 27th. B. Riley reissued a “buy” rating and set a $176.00 price objective on shares of Tyler Technologies in a report on Wednesday, August 3rd. Finally, KeyCorp raised their price objective on Tyler Technologies from $176.00 to $178.00 and gave the company an “overweight” rating in a report on Tuesday, September 13th. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $179.16.
In related news, VP H Lynn Moore, Jr. sold 8,968 shares of the business’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $169.23, for a total value of $1,517,654.64. Following the sale, the vice president now directly owns 71,683 shares in the company, valued at $12,130,914.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Dustin R. Womble sold 25,000 shares of the business’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $169.26, for a total value of $4,231,500.00. The disclosure for this sale can be found here. 12.00% of the stock is 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 provides professional information technology (IT) services to its clients, including software and hardware installation, data conversion, training and product modifications.
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