Amalgamated Bank Buys 1,670 Shares of Tyler Technologies, Inc. (TYL)
Amalgamated Bank grew its stake in Tyler Technologies, Inc. (NYSE:TYL) by 31.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,989 shares of the technology company’s stock after buying an additional 1,670 shares during the period. Amalgamated Bank’s holdings in Tyler Technologies were worth $1,228,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Tyler Technologies by 2.0% in the second quarter. BlackRock Inc. now owns 2,793,116 shares of the technology company’s stock valued at $490,668,000 after buying an additional 55,453 shares during the period. Vanguard Group Inc. increased its stake 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 valued at $410,127,000 after buying an additional 134,200 shares during the period. Janus Capital Management LLC increased its stake 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 valued at $233,283,000 after buying an additional 159,345 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Tyler Technologies by 40.2% in the second quarter. JPMorgan Chase & Co. now owns 1,027,797 shares of the technology company’s stock valued at $180,554,000 after buying an additional 294,817 shares during the period. Finally, TimesSquare Capital Management LLC increased its stake 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 valued at $136,110,000 after buying an additional 65,170 shares during the period. 90.51% of the stock is owned by institutional investors.
TYL has been the subject of several recent analyst reports. B. Riley reaffirmed a “buy” rating and set a $184.00 target price on shares of Tyler Technologies in a research note on Wednesday, August 2nd. Northland Securities reaffirmed a “buy” rating and set a $200.00 target price on shares of Tyler Technologies in a research note on Thursday. Citigroup Inc. initiated coverage on Tyler Technologies in a research note on Friday. They set a “buy” rating and a $200.00 target price for the company. BidaskClub raised Tyler Technologies from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 23rd. Finally, Zacks Investment Research raised Tyler Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Tyler Technologies currently has an average rating of “Buy” and a consensus target price of $195.29.
Shares of Tyler Technologies, Inc. (NYSE TYL) opened at 173.40 on Monday. The company’s 50-day moving average price is $170.29 and its 200 day moving average price is $166.78. Tyler Technologies, Inc. has a 1-year low of $139.61 and a 1-year high of $182.49. The firm has a market cap of $6.47 billion, a PE ratio of 51.95 and a beta of 0.95.
Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.03). Tyler Technologies had a net margin of 14.73% and a return on equity of 13.02%. The business had revenue of $209.12 million for the quarter, compared to analysts’ expectations of $210.67 million. During the same quarter in the prior year, the firm earned $0.86 EPS. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, analysts predict that Tyler Technologies, Inc. will post $3.87 EPS for the current year.
In other Tyler Technologies news, Director Larry D. Leinweber sold 36,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $170.98, for a total transaction of $6,155,280.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Brian K. Miller sold 9,760 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $169.01, for a total value of $1,649,537.60. Following the transaction, the vice president now owns 53,194 shares in the company, valued at approximately $8,990,317.94. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 279,357 shares of company stock worth $47,777,389. 10.30% of the stock is owned by company insiders.
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Tyler Technologies 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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