Old Port Advisors reduced its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 11.4% in the first quarter, Holdings Channel reports. The institutional investor owned 15,652 shares of the technology company’s stock after selling 2,012 shares during the period. Tyler Technologies comprises about 2.6% of Old Port Advisors’ portfolio, making the stock its 2nd biggest holding. Old Port Advisors’ holdings in Tyler Technologies were worth $6,645,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the business. Pinnacle Financial Partners Inc. increased its holdings in Tyler Technologies by 3.2% during the fourth quarter. Pinnacle Financial Partners Inc. now owns 764 shares of the technology company’s stock valued at $333,000 after buying an additional 24 shares during the last quarter. Bell Bank increased its holdings in Tyler Technologies by 0.6% during the fourth quarter. Bell Bank now owns 4,292 shares of the technology company’s stock valued at $1,874,000 after buying an additional 24 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in Tyler Technologies by 3.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 759 shares of the technology company’s stock valued at $331,000 after buying an additional 27 shares during the last quarter. Keybank National Association OH increased its holdings in Tyler Technologies by 4.8% during the fourth quarter. Keybank National Association OH now owns 629 shares of the technology company’s stock valued at $275,000 after buying an additional 29 shares during the last quarter. Finally, Sawtooth Solutions LLC increased its holdings in Tyler Technologies by 3.7% during the fourth quarter. Sawtooth Solutions LLC now owns 890 shares of the technology company’s stock valued at $389,000 after buying an additional 32 shares during the last quarter. 91.99% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently weighed in on TYL. Northcoast Research upgraded shares of Tyler Technologies from a “neutral” rating to a “buy” rating and set a $500.00 target price on the stock in a research note on Wednesday, March 17th. Needham & Company LLC lowered their price objective on Tyler Technologies from $510.00 to $480.00 and set a “buy” rating on the stock in a research report on Thursday, April 1st. DA Davidson upped their price objective on Tyler Technologies from $370.00 to $395.00 and gave the stock a “neutral” rating in a research note on Friday, February 12th. They noted that the move was a valuation call. Finally, JMP Securities upped their price objective on Tyler Technologies from $435.00 to $480.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $409.50.
In related news, Director Daniel M. Pope sold 705 shares of the stock in a transaction that occurred on Wednesday, February 17th. The stock was sold at an average price of $464.57, for a total transaction of $327,521.85. Following the completion of the transaction, the director now directly owns 3,375 shares of the company’s stock, valued at $1,567,923.75. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Donald R. Brattain sold 3,000 shares of the stock in a transaction that occurred on Monday, March 1st. The shares were sold at an average price of $477.58, for a total value of $1,432,740.00. Following the transaction, the director now directly owns 4,150 shares of the company’s stock, valued at $1,981,957. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,211 shares of company stock valued at $26,287,848. 3.60% of the stock is owned by corporate insiders.
Shares of NYSE TYL traded up $3.00 during mid-day trading on Friday, reaching $440.01. The company’s stock had a trading volume of 717 shares, compared to its average volume of 295,860. The firm has a market capitalization of $17.85 billion, a PE ratio of 96.05, a P/E/G ratio of 6.48 and a beta of 0.67. The stock has a fifty day moving average of $431.68 and a two-hundred day moving average of $418.95. Tyler Technologies, Inc. has a 52 week low of $304.51 and a 52 week high of $479.79.
Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, February 10th. The technology company reported $1.39 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.03). Tyler Technologies had a net margin of 16.71% and a return on equity of 9.91%. The firm had revenue of $283.30 million for the quarter, compared to the consensus estimate of $291.39 million. During the same period in the previous year, the company posted $1.43 earnings per share. Tyler Technologies’s quarterly revenue was down 1.9% on a year-over-year basis. As a group, equities research analysts anticipate that Tyler Technologies, Inc. will post 4.14 EPS for the current fiscal year.
Tyler Technologies Profile
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.
Further Reading: Options Trading
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