Neuberger Berman Group LLC reduced its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 2.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,527,084 shares of the technology company’s stock after selling 46,021 shares during the quarter. Neuberger Berman Group LLC owned 4.06% of Tyler Technologies worth $266,201,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in shares of Tyler Technologies by 40.2% in the second quarter. JPMorgan Chase & Co. now owns 1,027,797 shares of the technology company’s stock valued at $180,554,000 after purchasing an additional 294,817 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Tyler Technologies by 25.2% in the second quarter. Legal & General Group Plc now owns 26,654 shares of the technology company’s stock valued at $4,682,000 after acquiring an additional 5,361 shares in the last quarter. Howard Hughes Medical Institute acquired a new position in shares of Tyler Technologies in the second quarter valued at about $1,048,000. Shelton Capital Management acquired a new position in shares of Tyler Technologies in the second quarter valued at about $460,000. Finally, State Board of Administration of Florida Retirement System grew its stake in shares of Tyler Technologies by 1.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 43,016 shares of the technology company’s stock valued at $7,557,000 after acquiring an additional 680 shares in the last quarter. 93.34% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently commented on the stock. Zacks Investment Research downgraded shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, December 2nd. BidaskClub upgraded shares of Tyler Technologies from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 23rd. B. Riley restated a “neutral” rating and issued a $184.00 price target on shares of Tyler Technologies in a research note on Thursday, October 26th. Northland Securities restated a “buy” rating and issued a $200.00 price target on shares of Tyler Technologies in a research note on Thursday, September 21st. Finally, Maxim Group set a $197.00 price target on shares of Tyler Technologies and gave the company a “buy” rating in a research note on Thursday, October 26th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $193.00.
Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, October 25th. The technology company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.03. The firm had revenue of $214.15 million for the quarter, compared to the consensus estimate of $216.80 million. Tyler Technologies had a net margin of 16.34% and a return on equity of 12.81%. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.94 earnings per share. analysts expect that Tyler Technologies, Inc. will post 3.28 earnings per share for the current year.
In other Tyler Technologies news, Director Luther King, Jr. sold 1,500 shares of the stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $176.95, for a total transaction of $265,425.00. Following the sale, the director now directly owns 72,864 shares in the company, valued at $12,893,284.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Larry D. Leinweber sold 13,171 shares of the stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $183.57, for a total transaction of $2,417,800.47. The disclosure for this sale can be found here. Insiders have sold 251,138 shares of company stock worth $44,926,022 over the last quarter. Corporate insiders own 10.30% of the company’s stock.
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Tyler Technologies 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.
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