Amalgamated Bank lifted its stake in Tyler Technologies, Inc. (NYSE:TYL – Get Rating) by 3.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 11,337 shares of the technology company's stock after buying an additional 331 shares during the quarter. Amalgamated Bank's holdings in Tyler Technologies were worth $5,044,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. GHP Investment Advisors Inc. purchased a new position in shares of Tyler Technologies in the 1st quarter worth about $30,000. Standard Family Office LLC purchased a new position in shares of Tyler Technologies in the 1st quarter worth about $49,000. Prospera Financial Services Inc purchased a new position in shares of Tyler Technologies in the 1st quarter worth about $58,000. FourThought Financial LLC raised its position in shares of Tyler Technologies by 28.3% in the 1st quarter. FourThought Financial LLC now owns 186 shares of the technology company's stock worth $83,000 after purchasing an additional 41 shares during the last quarter. Finally, Tobam raised its position in shares of Tyler Technologies by 106.3% in the 1st quarter. Tobam now owns 196 shares of the technology company's stock worth $87,000 after purchasing an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 89.42% of the company's stock.
Get Tyler Technologies alerts:Tyler Technologies Trading Up 0.3 %
Tyler Technologies stock opened at $362.20 on Tuesday. The business has a 50-day simple moving average of $380.07 and a two-hundred day simple moving average of $377.95. The company has a market cap of $15.06 billion, a P/E ratio of 86.03 and a beta of 0.91. Tyler Technologies, Inc. has a 52-week low of $300.85 and a 52-week high of $557.55. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.50.
Tyler Technologies (NYSE:TYL – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The technology company reported $1.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.05. The company had revenue of $468.70 million during the quarter, compared to the consensus estimate of $458.50 million. Tyler Technologies had a return on equity of 10.26% and a net margin of 9.84%. The firm's revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.42 EPS. Analysts predict that Tyler Technologies, Inc. will post 5.53 EPS for the current year.Insider Activity at Tyler Technologies
In related news, COO Jeffrey David Puckett sold 3,906 shares of the business's stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $390.15, for a total transaction of $1,523,925.90. Following the completion of the transaction, the chief operating officer now directly owns 3,569 shares in the company, valued at approximately $1,392,445.35. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.00% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
TYL has been the subject of several research analyst reports. Wells Fargo & Company upgraded Tyler Technologies from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $425.00 to $435.00 in a report on Tuesday, June 7th. Needham & Company LLC reduced their price objective on Tyler Technologies from $575.00 to $475.00 and set a "buy" rating for the company in a report on Thursday, July 28th. Barclays reduced their price objective on Tyler Technologies from $445.00 to $370.00 and set an "equal weight" rating for the company in a report on Tuesday, July 12th. Wolfe Research lifted their price objective on Tyler Technologies from $400.00 to $460.00 and gave the stock an "outperform" rating in a report on Monday, August 1st. Finally, Robert W. Baird reduced their price objective on Tyler Technologies from $600.00 to $500.00 in a report on Friday, July 29th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Tyler Technologies currently has an average rating of "Moderate Buy" and an average price target of $470.55.
Tyler Technologies Profile
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Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. The company operates in three segments: Enterprise Software; Appraisal and Tax; and NIC. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools.
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