Arizona State Retirement System Increases Stake in Tyler Technologies, Inc. (TYL)

Arizona State Retirement System boosted its stake in Tyler Technologies, Inc. (NYSE:TYL) by 2.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,200 shares of the technology company’s stock after buying an additional 300 shares during the period. Arizona State Retirement System’s holdings in Tyler Technologies were worth $2,495,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Cue Financial Group Inc. increased its stake in shares of Tyler Technologies by 0.6% in the second quarter. Cue Financial Group Inc. now owns 2,690 shares of the technology company’s stock valued at $473,000 after buying an additional 15 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in shares of Tyler Technologies by 0.5% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 5,775 shares of the technology company’s stock valued at $893,000 after buying an additional 31 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Tyler Technologies by 2.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,180 shares of the technology company’s stock valued at $492,000 after buying an additional 67 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of Tyler Technologies by 0.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 32,544 shares of the technology company’s stock valued at $5,030,000 after buying an additional 84 shares during the last quarter. Finally, Tyers Asset Management LLC increased its stake in shares of Tyler Technologies by 1.3% in the first quarter. Tyers Asset Management LLC now owns 7,776 shares of the technology company’s stock valued at $1,202,000 after buying an additional 96 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Tyler Technologies, Inc. (NYSE:TYL) opened at 169.76 on Friday. The company has a market cap of $6.33 billion, a P/E ratio of 50.86 and a beta of 0.95. The company’s 50 day moving average price is $172.80 and its 200-day moving average price is $163.87. Tyler Technologies, Inc. has a one year low of $139.61 and a one year high of $182.49.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, July 26th. The technology company reported $0.91 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.94 by $0.03. Tyler Technologies had a net margin of 14.73% and a return on equity of 13.02%. The business had revenue of $209.12 million for the quarter, compared to analysts’ expectations of $210.67 million. During the same quarter in the previous year, the firm earned $0.86 EPS. Tyler Technologies’s revenue was up 10.7% compared to the same quarter last year. On average, analysts forecast that Tyler Technologies, Inc. will post $3.87 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: “[[title]]” was first reported by [[site]] and is the sole property of of [[site]]. If you are viewing this piece on another domain, it was copied illegally and reposted in violation of international copyright & trademark laws. The legal version of this piece can be accessed at [[permalink]].

Several analysts have weighed in on the company. Maxim Group set a $197.00 price objective on Tyler Technologies and gave the company a “buy” rating in a research report on Thursday, July 27th. Zacks Investment Research upgraded Tyler Technologies from a “hold” rating to a “strong-buy” rating and set a $201.00 price objective for the company in a research report on Thursday, June 29th. BidaskClub downgraded Tyler Technologies from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, B. Riley reiterated a “buy” rating and issued a $184.00 price objective on shares of Tyler Technologies in a research report on Wednesday, August 2nd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $187.17.

In related news, VP Brian K. Miller sold 1,848 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $172.58, for a total transaction of $318,927.84. Following the completion of the transaction, the vice president now owns 52,657 shares in the company, valued at approximately $9,087,545.06. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Brian K. Miller sold 1,240 shares of the business’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $174.50, for a total value of $216,380.00. Following the transaction, the vice president now owns 47,989 shares of the company’s stock, valued at approximately $8,374,080.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 228,753 shares of company stock valued at $39,149,919. 10.30% of the stock is owned by company insiders.

Tyler Technologies Company Profile

Tyler Technologies, Inc is a provider of information management solutions and services for the public sector, with a focus on local governments. The Company operates through two segments: Enterprise Software (ES) segment and The Appraisal and Tax (A&T) segment. ES segment provides municipal and county governments and schools with software systems and services for information technology and automation needs that includes back-office functions, such as financial management, courts and justice processes, public safety, planning regulatory and maintenance, and land and vital records management.