Franklin Resources Inc. Buys 209,004 Shares of Tyler Technologies, Inc. (TYL)
Franklin Resources Inc. lifted its stake in Tyler Technologies, Inc. (NYSE:TYL) by 35.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 796,423 shares of the technology company’s stock after buying an additional 209,004 shares during the quarter. Franklin Resources Inc.’s holdings in Tyler Technologies were worth $141,009,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of TYL. Zions Bancorporation acquired a new position in shares of Tyler Technologies in the 3rd quarter worth approximately $156,000. San Francisco Sentry Investment Group CA raised its holdings in shares of Tyler Technologies by 1,334.7% in the 4th quarter. San Francisco Sentry Investment Group CA now owns 1,076 shares of the technology company’s stock worth $191,000 after buying an additional 1,001 shares in the last quarter. CIBC Asset Management Inc acquired a new position in shares of Tyler Technologies in the 3rd quarter worth approximately $218,000. MML Investors Services LLC acquired a new position in shares of Tyler Technologies in the 4th quarter worth approximately $253,000. Finally, Bell Bank acquired a new position in shares of Tyler Technologies in the 3rd quarter worth approximately $254,000. 94.47% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on the company. Robert W. Baird assumed coverage on Tyler Technologies in a report on Tuesday. They set an “outperform” rating for the company. DA Davidson assumed coverage on Tyler Technologies in a report on Wednesday, March 7th. They set a “neutral” rating and a $190.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $235.00 price target on shares of Tyler Technologies in a report on Friday, February 23rd. Evercore ISI reaffirmed a “buy” rating and set a $210.00 price target on shares of Tyler Technologies in a report on Friday, February 23rd. Finally, Maxim Group set a $220.00 price target on Tyler Technologies and gave the company a “buy” rating in a report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $203.70.
Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, February 21st. The technology company reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.03. The firm had revenue of $217.85 million during the quarter, compared to analysts’ expectations of $220.56 million. Tyler Technologies had a return on equity of 12.49% and a net margin of 19.50%. The business’s revenue was up 12.7% on a year-over-year basis. During the same period last year, the firm posted $0.90 EPS. equities research analysts predict that Tyler Technologies, Inc. will post 3.87 EPS for the current year.
In other Tyler Technologies news, CEO John S. Marr, Jr. sold 41,000 shares of the stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $209.05, for a total value of $8,571,050.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dustin R. Womble sold 20,000 shares of the stock in a transaction on Friday, March 9th. The shares were sold at an average price of $211.12, for a total value of $4,222,400.00. Following the completion of the transaction, the director now owns 1,500 shares in the company, valued at $316,680. The disclosure for this sale can be found here. Insiders sold a total of 197,194 shares of company stock worth $38,736,004 over the last quarter. Corporate insiders own 10.30% of the company’s stock.
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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