Cambridge Investment Research Advisors Inc. lifted its position in Tyler Technologies, Inc. (NYSE:TYL – Get Rating) by 39.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 17,523 shares of the technology company's stock after acquiring an additional 4,914 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Tyler Technologies were worth $5,826,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Handelsinvest Investeringsforvaltning lifted its stake in shares of Tyler Technologies by 15.0% in the second quarter. Handelsinvest Investeringsforvaltning now owns 23,000 shares of the technology company's stock worth $7,647,000 after buying an additional 3,000 shares in the last quarter. NuWave Investment Management LLC bought a new position in shares of Tyler Technologies in the second quarter worth approximately $73,000. Spence Asset Management lifted its stake in shares of Tyler Technologies by 0.9% in the second quarter. Spence Asset Management now owns 48,130 shares of the technology company's stock worth $16,002,000 after buying an additional 428 shares in the last quarter. Amalgamated Bank lifted its stake in shares of Tyler Technologies by 3.0% in the first quarter. Amalgamated Bank now owns 11,337 shares of the technology company's stock worth $5,044,000 after buying an additional 331 shares in the last quarter. Finally, Walleye Capital LLC bought a new position in shares of Tyler Technologies in the first quarter worth approximately $293,000. Institutional investors own 89.42% of the company's stock.
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Shares of TYL stock opened at $341.12 on Friday. Tyler Technologies, Inc. has a 12 month low of $300.85 and a 12 month high of $557.55. The stock has a market cap of $14.18 billion, a P/E ratio of 81.03 and a beta of 0.91. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.50. The company has a 50 day simple moving average of $381.60 and a two-hundred day simple moving average of $376.41.
Tyler Technologies (NYSE:TYL – Get Rating) last posted its quarterly earnings results on Wednesday, July 27th. The technology company reported $1.88 earnings per share for the quarter, topping analysts' consensus estimates of $1.83 by $0.05. The business had revenue of $468.70 million during the quarter, compared to analyst estimates of $458.50 million. Tyler Technologies had a net margin of 9.84% and a return on equity of 10.26%. The company's revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.42 earnings per share. On average, research analysts expect that Tyler Technologies, Inc. will post 5.52 earnings per share for the current year.Insiders Place Their Bets
In related news, COO Jeffrey David Puckett sold 3,906 shares of the company's stock in a transaction on Thursday, August 25th. The shares were 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 owns 3,569 shares in the company, valued at $1,392,445.35. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.00% of the company's stock.
Analyst Ratings Changes
Several brokerages have recently issued reports on TYL. Barclays dropped their target price on shares of Tyler Technologies from $445.00 to $370.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 12th. Truist Financial decreased their price objective on shares of Tyler Technologies from $550.00 to $500.00 and set a "buy" rating for the company in a report on Tuesday, July 5th. DA Davidson boosted their price objective on shares of Tyler Technologies to $460.00 in a report on Tuesday, August 9th. Wolfe Research boosted their price objective on shares of Tyler Technologies from $400.00 to $460.00 and gave the company an "outperform" rating in a report on Monday, August 1st. Finally, Robert W. Baird decreased their price objective on shares of Tyler Technologies from $600.00 to $500.00 in a report on Friday, July 29th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, Tyler Technologies has a consensus 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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