SRS Capital Advisors Inc. bought a new position in shares of Tyler Technologies, Inc. (NYSE:TYL) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 897 shares of the technology company’s stock, valued at approximately $194,000.
A number of other institutional investors also recently bought and sold shares of TYL. Envestnet Asset Management Inc. increased its stake in Tyler Technologies by 29.3% during the second quarter. Envestnet Asset Management Inc. now owns 59,202 shares of the technology company’s stock worth $12,789,000 after acquiring an additional 13,400 shares during the last quarter. Waratah Capital Advisors Ltd. acquired a new stake in Tyler Technologies in the 2nd quarter valued at $3,792,000. Capital Investment Services of America Inc. increased its holdings in Tyler Technologies by 13.5% in the 2nd quarter. Capital Investment Services of America Inc. now owns 57,864 shares of the technology company’s stock valued at $12,500,000 after purchasing an additional 6,895 shares in the last quarter. California State Teachers Retirement System increased its holdings in Tyler Technologies by 0.4% in the 1st quarter. California State Teachers Retirement System now owns 60,436 shares of the technology company’s stock valued at $12,353,000 after purchasing an additional 237 shares in the last quarter. Finally, Twin Tree Management LP increased its holdings in Tyler Technologies by 116.7% in the 1st quarter. Twin Tree Management LP now owns 5,258 shares of the technology company’s stock valued at $1,075,000 after purchasing an additional 2,832 shares in the last quarter. 88.30% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Tyler Technologies stock traded up $2.17 during trading hours on Thursday, hitting $256.67. 4,139 shares of the company’s stock traded hands, compared to its average volume of 274,961. The stock has a 50 day simple moving average of $241.51 and a 200-day simple moving average of $220.37. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.02. The company has a market cap of $9.93 billion, a PE ratio of 68.53 and a beta of 0.92. Tyler Technologies, Inc. has a twelve month low of $173.26 and a twelve month high of $260.04.
Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, July 31st. The technology company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.05. The company had revenue of $275.10 million during the quarter, compared to the consensus estimate of $274.88 million. Tyler Technologies had a return on equity of 11.44% and a net margin of 12.96%. The company’s revenue was up 16.5% on a year-over-year basis. During the same period last year, the firm earned $1.18 earnings per share. As a group, equities research analysts predict that Tyler Technologies, Inc. will post 4.16 EPS for the current year.
In other news, VP Brian K. Miller sold 4,000 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $220.65, for a total transaction of $882,600.00. Following the transaction, the vice president now owns 47,932 shares of the company’s stock, valued at $10,576,195.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Glenn A. Carter sold 325 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $221.46, for a total transaction of $71,974.50. The disclosure for this sale can be found here. Insiders have sold 143,173 shares of company stock valued at $34,907,363 over the last 90 days. Insiders own 4.40% of the company’s stock.
Several analysts recently issued reports on the company. Zacks Investment Research upgraded Tyler Technologies from a “sell” rating to a “hold” rating in a report on Friday, July 5th. KeyCorp reiterated a “hold” rating on shares of Tyler Technologies in a report on Thursday, August 1st. Benchmark increased their price target on Tyler Technologies from $235.00 to $285.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Needham & Company LLC increased their price target on Tyler Technologies to $280.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Northland Securities reiterated a “buy” rating on shares of Tyler Technologies in a report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $249.50.
About Tyler Technologies
Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. The company operates in two segments, Enterprise Software, and Appraisal and Tax. 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.
Read More: Why do companies engage in swaps?
Want to see what other hedge funds are holding TYL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tyler Technologies, Inc. (NYSE:TYL).
Receive News & Ratings for Tyler Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tyler Technologies and related companies with MarketBeat.com's FREE daily email newsletter.