Tyler Technologies, Inc. (TYL) Shares Bought by Prudential Financial Inc.
Prudential Financial Inc. lifted its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 1.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,459 shares of the technology company’s stock after acquiring an additional 266 shares during the quarter. Prudential Financial Inc. owned 0.06% of Tyler Technologies worth $4,121,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Tyler Technologies by 32.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,298 shares of the technology company’s stock valued at $201,000 after acquiring an additional 317 shares during the last quarter. YHB Investment Advisors Inc. purchased a new stake in shares of Tyler Technologies during the second quarter valued at approximately $209,000. Lakeview Capital Partners LLC purchased a new stake in shares of Tyler Technologies during the second quarter valued at approximately $211,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Tyler Technologies during the first quarter valued at approximately $242,000. Finally, Sheets Smith Wealth Management purchased a new stake in shares of Tyler Technologies during the second quarter valued at approximately $296,000. 90.51% of the stock is owned by institutional investors.
In other news, VP Brian K. Miller sold 9,760 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $169.01, for a total transaction of $1,649,537.60. Following the transaction, the vice president now directly owns 53,194 shares of the company’s stock, valued at approximately $8,990,317.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Brian K. Miller sold 1,848 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $172.58, for a total value of $318,927.84. Following the transaction, the vice president now directly owns 52,657 shares in the company, valued at $9,087,545.06. The disclosure for this sale can be found here. Insiders have sold a total of 279,357 shares of company stock worth $47,777,389 over the last three months. Insiders own 10.30% of the company’s stock.
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TYL has been the subject of a number of research analyst reports. Zacks Investment Research downgraded Tyler Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 13th. Maxim Group set a $197.00 price target on Tyler Technologies and gave the company a “buy” rating in a research report on Monday, July 17th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $200.00 price target on shares of Tyler Technologies in a research report on Sunday, August 27th. BidaskClub downgraded Tyler Technologies from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, B. Riley reaffirmed a “buy” rating and set a $184.00 price target on shares of Tyler Technologies in a research report on Friday, July 28th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $193.40.
Shares of Tyler Technologies, Inc. (NYSE TYL) opened at 170.41 on Thursday. The stock has a market capitalization of $6.36 billion, a P/E ratio of 51.05 and a beta of 0.95. The firm has a 50-day moving average price of $170.29 and a 200-day moving average price of $166.78. Tyler Technologies, Inc. has a 52-week low of $139.61 and a 52-week high of $182.49.
Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.03). The firm had revenue of $209.12 million for the quarter, compared to the consensus estimate of $210.67 million. Tyler Technologies had a net margin of 14.73% and a return on equity of 13.02%. Tyler Technologies’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 earnings per share. On average, analysts predict that Tyler Technologies, Inc. will post $3.87 EPS for the current year.
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 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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