Taylor Wealth Management Partners Cuts Stake in Tyler Technologies, Inc. (TYL)
Taylor Wealth Management Partners decreased its position in Tyler Technologies, Inc. (NYSE:TYL) by 1.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,423 shares of the technology company’s stock after selling 1,180 shares during the period. Tyler Technologies accounts for 5.3% of Taylor Wealth Management Partners’ holdings, making the stock its largest position. Taylor Wealth Management Partners owned 0.18% of Tyler Technologies worth $11,669,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Tyler Technologies by 16,997.6% in the first quarter. BlackRock Inc. now owns 2,737,663 shares of the technology company’s stock worth $423,133,000 after buying an additional 2,721,651 shares during the period. Vanguard Group Inc. raised its position in shares of Tyler Technologies by 5.3% in the first quarter. Vanguard Group Inc. now owns 2,653,514 shares of the technology company’s stock worth $410,127,000 after buying an additional 134,200 shares during the period. Brown Capital Management LLC raised its position in shares of Tyler Technologies by 2.3% in the first quarter. Brown Capital Management LLC now owns 2,236,904 shares of the technology company’s stock worth $345,736,000 after buying an additional 49,484 shares during the period. Janus Capital Management LLC raised its position in shares of Tyler Technologies by 11.8% in the first quarter. Janus Capital Management LLC now owns 1,509,335 shares of the technology company’s stock worth $233,283,000 after buying an additional 159,345 shares during the period. Finally, TimesSquare Capital Management LLC raised its position in shares of Tyler Technologies by 8.0% in the first quarter. TimesSquare Capital Management LLC now owns 880,630 shares of the technology company’s stock worth $136,110,000 after buying an additional 65,170 shares during the period. Institutional investors own 89.96% of the company’s stock.
Tyler Technologies, Inc. (TYL) traded up 0.56% during trading on Tuesday, reaching $181.07. The company’s stock had a trading volume of 54,458 shares. Tyler Technologies, Inc. has a 12 month low of $139.61 and a 12 month high of $181.87. The stock’s 50 day moving average is $173.13 and its 200 day moving average is $161.14. The company has a market cap of $6.71 billion, a price-to-earnings ratio of 56.92 and a beta of 0.96.
Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, April 26th. The technology company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. Tyler Technologies had a net margin of 13.48% and a return on equity of 13.12%. The business had revenue of $199.54 million for the quarter, compared to analysts’ expectations of $199.76 million. During the same quarter in the previous year, the firm posted $0.81 EPS. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities analysts expect that Tyler Technologies, Inc. will post $3.88 EPS for the current fiscal year.
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TYL has been the topic of a number of recent research reports. B. Riley reiterated a “buy” rating and set a $184.00 target price on shares of Tyler Technologies in a research note on Tuesday, May 9th. Zacks Investment Research upgraded Tyler Technologies from a “hold” rating to a “strong-buy” rating and set a $201.00 target price on the stock in a research note on Thursday, June 29th. Finally, Maxim Group set a $197.00 target price on Tyler Technologies and gave the stock a “buy” rating in a research note on Monday, July 17th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Tyler Technologies currently has an average rating of “Buy” and an average price target of $187.00.
In other news, President H Lynn Moore, Jr. sold 1,848 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $167.81, for a total value of $310,112.88. Following the transaction, the president now owns 51,029 shares of the company’s stock, valued at $8,563,176.49. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Larry D. Leinweber sold 36,000 shares of the company’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $163.55, for a total transaction of $5,887,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 391,147 shares of company stock worth $65,619,550 in the last three months. Insiders own 10.30% of the company’s stock.
Tyler Technologies Company Profile
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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