Cambridge Investment Research Advisors Inc. lifted its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 6.4% in the 3rd quarter, Holdings Channel reports. The fund owned 3,852 shares of the technology company’s stock after acquiring an additional 230 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Tyler Technologies were worth $1,767,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of TYL. Global Retirement Partners LLC increased its position in shares of Tyler Technologies by 62.2% during the third quarter. Global Retirement Partners LLC now owns 60 shares of the technology company’s stock worth $28,000 after acquiring an additional 23 shares in the last quarter. JJJ Advisors Inc. increased its position in shares of Tyler Technologies by 89.4% during the third quarter. JJJ Advisors Inc. now owns 89 shares of the technology company’s stock worth $41,000 after acquiring an additional 42 shares in the last quarter. Cribstone Capital Management LLC bought a new stake in shares of Tyler Technologies during the second quarter worth $45,000. Advisory Services Network LLC bought a new stake in shares of Tyler Technologies during the second quarter worth $56,000. Finally, Penserra Capital Management LLC increased its position in shares of Tyler Technologies by 31.0% during the second quarter. Penserra Capital Management LLC now owns 131 shares of the technology company’s stock worth $59,000 after acquiring an additional 31 shares in the last quarter. 90.55% of the stock is owned by institutional investors.
Shares of TYL stock opened at $537.95 on Monday. The stock has a market cap of $22.04 billion, a P/E ratio of 140.82 and a beta of 0.69. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.08 and a quick ratio of 1.08. The company has a fifty day moving average price of $527.32 and a two-hundred day moving average price of $494.12. Tyler Technologies, Inc. has a one year low of $372.80 and a one year high of $557.55.
Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, October 27th. The technology company reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.24. The firm had revenue of $459.87 million during the quarter, compared to analysts’ expectations of $426.30 million. Tyler Technologies had a net margin of 11.15% and a return on equity of 10.44%. The company’s revenue for the quarter was up 60.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.17 earnings per share. As a group, equities research analysts anticipate that Tyler Technologies, Inc. will post 5.09 EPS for the current fiscal year.
TYL has been the subject of several recent research reports. Zacks Investment Research cut shares of Tyler Technologies from a “buy” rating to a “hold” rating and set a $492.00 target price for the company. in a report on Tuesday, September 28th. Wolfe Research initiated coverage on shares of Tyler Technologies in a report on Monday, September 13th. They set an “outperform” rating and a $550.00 target price for the company. TheStreet upgraded shares of Tyler Technologies from a “c” rating to a “b-” rating in a report on Wednesday, October 27th. JMP Securities increased their target price on shares of Tyler Technologies from $525.00 to $580.00 and gave the stock a “market outperform” rating in a report on Monday, November 1st. Finally, Piper Sandler increased their target price on shares of Tyler Technologies from $525.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, October 29th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $549.95.
In other news, Chairman John S. Marr, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Thursday, November 4th. The shares were sold at an average price of $547.80, for a total transaction of $5,478,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brian K. Miller sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 2nd. The stock was sold at an average price of $540.13, for a total transaction of $2,700,650.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,421 shares of company stock valued at $34,852,502. Corporate insiders own 2.70% of the company’s stock.
About Tyler Technologies
Tyler Technologies, Inc engages in the provision of integrated technology and management solutions and services for public sector with a focus on local governments. It operates through the following segments: Enterprise Software and Appraisal and Tax. The Enterprise Software segment provides municipal and county governments and schools with software systems to meet their information technology and automation needs for mission-critical back-office functions such as financial management, courts and justice processes.
Further Reading: What is Depreciation?
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).
Want More Great Investing Ideas?