Municipal Employees Retirement System of Michigan lessened its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 19.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,490 shares of the technology company’s stock after selling 2,540 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Tyler Technologies were worth $1,829,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of Tyler Technologies by 40.2% during the second quarter. JPMorgan Chase & Co. now owns 1,027,797 shares of the technology company’s stock valued at $180,554,000 after acquiring an additional 294,817 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Tyler Technologies by 3.5% during the second quarter. Louisiana State Employees Retirement System now owns 8,800 shares of the technology company’s stock valued at $1,546,000 after acquiring an additional 300 shares during the period. Morgan Stanley increased its stake in shares of Tyler Technologies by 24.5% during the first quarter. Morgan Stanley now owns 71,848 shares of the technology company’s stock valued at $11,105,000 after acquiring an additional 14,119 shares during the period. Legal & General Group Plc increased its stake in shares of Tyler Technologies by 25.2% during the second quarter. Legal & General Group Plc now owns 26,654 shares of the technology company’s stock valued at $4,682,000 after acquiring an additional 5,361 shares during the period. Finally, Howard Hughes Medical Institute acquired a new position in shares of Tyler Technologies during the second quarter valued at approximately $1,048,000. Institutional investors and hedge funds own 90.79% of the company’s stock.

Shares of Tyler Technologies, Inc. (TYL) opened at $170.32 on Thursday. The firm has a market cap of $6,458.34, a P/E ratio of 52.73 and a beta of 0.99. Tyler Technologies, Inc. has a 1-year low of $139.61 and a 1-year high of $183.98.

Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, October 25th. The technology company reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.03. The firm had revenue of $214.15 million during the quarter, compared to analysts’ expectations of $216.80 million. Tyler Technologies had a net margin of 16.34% and a return on equity of 12.81%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period last year, the firm posted $0.94 earnings per share. sell-side analysts forecast that Tyler Technologies, Inc. will post 3.27 EPS for the current fiscal year.

A number of research firms recently commented on TYL. B. Riley reiterated a “buy” rating and set a $184.00 price objective on shares of Tyler Technologies in a research note on Friday, July 28th. Maxim Group set a $197.00 price objective on shares of Tyler Technologies and gave the company a “buy” rating in a research note on Thursday, July 27th. Zacks Investment Research upgraded shares of Tyler Technologies from a “hold” rating to a “buy” rating and set a $198.00 price objective on the stock in a research note on Wednesday, November 1st. KeyCorp reiterated a “buy” rating and set a $180.00 price objective on shares of Tyler Technologies in a research note on Friday, October 6th. Finally, Citigroup Inc. began coverage on shares of Tyler Technologies in a research note on Friday, September 22nd. They set a “buy” rating and a $200.00 price objective on the stock. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $193.00.

In related news, CEO John S. Marr, Jr. sold 24,627 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $170.23, for a total transaction of $4,192,254.21. Following the completion of the sale, the chief executive officer now directly owns 339,457 shares in the company, valued at $57,785,765.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Brian K. Miller sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $170.38, for a total transaction of $1,022,280.00. Following the completion of the transaction, the vice president now directly owns 56,694 shares of the company’s stock, valued at approximately $9,659,523.72. The disclosure for this sale can be found here. Insiders have sold 237,876 shares of company stock valued at $40,953,429 over the last 90 days. 10.30% of the stock is currently owned by 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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Institutional Ownership by Quarter for Tyler Technologies (NYSE:TYL)

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