Pinebridge Investments L.P. Takes $2.81 Million Position in Tyler Technologies, Inc. (TYL)

Pinebridge Investments L.P. bought a new stake in Tyler Technologies, Inc. (NYSE:TYL) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 16,096 shares of the technology company’s stock, valued at approximately $2,806,000.

Several other large investors have also recently modified their holdings of TYL. Janus Henderson Group PLC boosted its stake in shares of Tyler Technologies by 327.0% in the 2nd quarter. Janus Henderson Group PLC now owns 1,865,432 shares of the technology company’s stock valued at $327,700,000 after purchasing an additional 1,428,513 shares in the last quarter. Koch Industries Inc. boosted its stake in shares of Tyler Technologies by 18,128.1% in the 2nd quarter. Koch Industries Inc. now owns 401,747 shares of the technology company’s stock valued at $399,000 after purchasing an additional 399,543 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Tyler Technologies by 40.2% in the 2nd 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 in the last quarter. Franklin Resources Inc. lifted its position in Tyler Technologies by 71.8% during the 2nd quarter. Franklin Resources Inc. now owns 536,791 shares of the technology company’s stock worth $94,299,000 after buying an additional 224,410 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Tyler Technologies by 5.7% during the 2nd quarter. Vanguard Group Inc. now owns 2,804,393 shares of the technology company’s stock worth $492,648,000 after buying an additional 150,879 shares in the last quarter. Institutional investors own 93.34% of the company’s stock.

Several brokerages recently issued reports on TYL. Northland Securities reiterated a “buy” rating and set a $200.00 price target on shares of Tyler Technologies in a research report on Thursday, September 21st. BidaskClub upgraded shares of Tyler Technologies from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 23rd. B. Riley reiterated a “neutral” rating and set a $184.00 price target on shares of Tyler Technologies in a research report on Thursday, October 26th. Needham & Company LLC reiterated a “buy” rating on shares of Tyler Technologies in a research report on Tuesday, October 24th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $200.00 price target on shares of Tyler Technologies in a research report on Friday, October 27th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $193.00.

In other Tyler Technologies news, Director Luther King, Jr. sold 1,500 shares of the business’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $176.95, for a total transaction of $265,425.00. Following the completion of the sale, the director now directly owns 72,864 shares of the company’s stock, valued at approximately $12,893,284.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John S. Marr, Jr. sold 10,000 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $173.35, for a total value of $1,733,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 224,781 shares of company stock valued at $39,741,082 over the last three months. Company insiders own 10.30% of the company’s stock.

Shares of Tyler Technologies, Inc. (NYSE:TYL) traded down $0.01 during midday trading on Wednesday, reaching $183.70. 522,700 shares of the company traded hands, compared to its average volume of 193,576. The firm has a market cap of $6,901.64, a P/E ratio of 56.35 and a beta of 0.97. Tyler Technologies, Inc. has a 1-year low of $139.61 and a 1-year high of $188.21.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, October 25th. The technology company reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.03. The business 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 firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 EPS. analysts predict that Tyler Technologies, Inc. will post 3.28 EPS for the current year.

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About Tyler Technologies

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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Institutional Ownership by Quarter for Tyler Technologies (NYSE:TYL)

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