Tyler Technologies, Inc. (TYL) Shares Bought by Fred Alger Management Inc.
Fred Alger Management Inc. raised its stake in Tyler Technologies, Inc. (NYSE:TYL) by 16.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 169,931 shares of the company’s stock after buying an additional 23,476 shares during the period. Fred Alger Management Inc. owned approximately 0.46% of Tyler Technologies worth $24,261,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. A.R.T. Advisors LLC purchased a new stake in shares of Tyler Technologies during the fourth quarter valued at approximately $528,000. Envestnet Asset Management Inc. boosted its stake in shares of Tyler Technologies by 18.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 18,482 shares of the company’s stock valued at $2,642,000 after buying an additional 2,902 shares during the last quarter. Tyers Asset Management LLC purchased a new stake in shares of Tyler Technologies during the fourth quarter valued at approximately $1,097,000. Capstone Investment Advisors LLC purchased a new stake in shares of Tyler Technologies during the fourth quarter valued at approximately $1,275,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Tyler Technologies by 22.0% in the fourth quarter. Renaissance Technologies LLC now owns 73,700 shares of the company’s stock valued at $10,522,000 after buying an additional 13,300 shares during the last quarter. 86.37% of the stock is owned by institutional investors and hedge funds.
Shares of Tyler Technologies, Inc. (NYSE:TYL) traded down 1.23% during mid-day trading on Thursday, reaching $153.74. The company’s stock had a trading volume of 261,924 shares. The company’s 50-day moving average is $149.34 and its 200 day moving average is $157.62. Tyler Technologies, Inc. has a 1-year low of $118.16 and a 1-year high of $175.77. The firm has a market capitalization of $5.63 billion, a P/E ratio of 54.52 and a beta of 1.00.
Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, February 8th. The company reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.02. Tyler Technologies had a return on equity of 13.50% and a net margin of 11.83%. The firm had revenue of $195.10 million for the quarter, compared to the consensus estimate of $197.78 million. During the same period in the previous year, the business earned $0.59 earnings per share. The company’s revenue for the quarter was up 21.6% compared to the same quarter last year. On average, analysts expect that Tyler Technologies, Inc. will post $3.88 earnings per share for the current year.
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Several analysts recently commented on the company. Pacific Crest reiterated a “buy” rating on shares of Tyler Technologies in a research report on Sunday, October 30th. B. Riley reiterated a “buy” rating and set a $184.00 price target on shares of Tyler Technologies in a research report on Friday, February 10th. Needham & Company LLC reiterated a “buy” rating and set a $185.00 price target on shares of Tyler Technologies in a research report on Thursday, February 9th. Finally, Maxim Group boosted their price target on Tyler Technologies from $206.00 to $213.00 and gave the stock a “buy” rating in a research report on Tuesday, October 25th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Tyler Technologies presently has a consensus rating of “Buy” and a consensus target price of $177.83.
In related news, Director Larry D. Leinweber sold 37,656 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, December 14th. The stock was sold at an average price of $146.92, for a total value of $5,532,419.52. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Larry D. Leinweber sold 70,147 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $155.80, for a total value of $10,928,902.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 244,255 shares of company stock worth $36,745,849. Company 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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