Mackenzie Financial Corp continued to hold its stake in Tyler Technologies, Inc. (NYSE:TYL) during the third quarter, Holdings Channel reports. The institutional investor owned 19,847 shares of the company’s stock at the end of the third quarter. Mackenzie Financial Corp owned 0.05% of Tyler Technologies worth $3,398,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in TYL. EULAV Asset Management boosted its position in Tyler Technologies by 4.2% in the third quarter. EULAV Asset Management now owns 101,158 shares of the company’s stock valued at $17,321,000 after buying an additional 4,100 shares during the last quarter. Rhumbline Advisers boosted its position in Tyler Technologies by 6.7% in the third quarter. Rhumbline Advisers now owns 68,325 shares of the company’s stock valued at $11,699,000 after buying an additional 4,306 shares during the last quarter. Peregrine Capital Management LLC acquired a new position in Tyler Technologies during the third quarter valued at approximately $15,203,000. First Trust Advisors LP acquired a new position in Tyler Technologies during the third quarter valued at approximately $10,514,000. Finally, Kalmar Investments Inc. DE acquired a new position in Tyler Technologies during the second quarter valued at approximately $24,270,000. Institutional investors own 88.40% of the company’s stock.
Shares of Tyler Technologies, Inc. (NYSE:TYL) traded down 0.80% during midday trading on Wednesday, reaching $145.99. The company had a trading volume of 276,885 shares. The stock has a 50-day moving average of $147.23 and a 200 day moving average of $157.94. The firm has a market capitalization of $5.35 billion, a price-to-earnings ratio of 84.19 and a beta of 1.00. Tyler Technologies, Inc. has a 52 week low of $118.16 and a 52 week high of $175.77.
Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, February 8th. The company reported $0.90 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.02. The business had revenue of $195.10 million for the quarter, compared to analysts’ expectations of $197.78 million. Tyler Technologies had a return on equity of 12.34% and a net margin of 9.26%. The business’s quarterly revenue was up 21.6% on a year-over-year basis. During the same period last year, the firm earned $0.59 earnings per share. On average, analysts anticipate that Tyler Technologies, Inc. will post $3.50 earnings per share for the current year.
TYL has been the subject of several recent analyst reports. Maxim Group boosted their target price on Tyler Technologies from $206.00 to $213.00 and gave the stock a “buy” rating in a research report on Tuesday, October 25th. Needham & Company LLC restated a “buy” rating and set a $185.00 target price on shares of Tyler Technologies in a research report on Thursday, December 15th. B. Riley restated a “buy” rating and set a $174.00 target price on shares of Tyler Technologies in a research report on Saturday, December 24th. Finally, Pacific Crest restated a “buy” rating on shares of Tyler Technologies in a research report on Sunday, October 30th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $178.33.
In other Tyler Technologies news, CFO Brian K. Miller sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $155.36, for a total transaction of $776,800.00. Following the sale, the chief financial officer now directly owns 47,775 shares of the company’s stock, valued at $7,422,324. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Luther King, Jr. sold 15,000 shares of the firm’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $148.13, for a total value of $2,221,950.00. Following the sale, the director now directly owns 72,864 shares in the company, valued at $10,793,344.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 176,225 shares of company stock worth $25,929,714. Insiders own 12.00% of the company’s stock.
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 provides professional information technology (IT) services to its clients, including software and hardware installation, data conversion, training and product modifications.
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