American International Group Inc. boosted its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 2.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 72,376 shares of the technology company’s stock after acquiring an additional 1,404 shares during the quarter. American International Group Inc.’s holdings in Tyler Technologies were worth $12,814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also bought and sold shares of the company. Zions Bancorporation acquired a new stake in Tyler Technologies during the third quarter worth $156,000. San Francisco Sentry Investment Group CA boosted its stake in Tyler Technologies by 1,334.7% during the fourth quarter. San Francisco Sentry Investment Group CA now owns 1,076 shares of the technology company’s stock worth $191,000 after buying an additional 1,001 shares in the last quarter. CIBC Asset Management Inc acquired a new stake in Tyler Technologies during the third quarter worth $218,000. Bell Bank acquired a new stake in Tyler Technologies during the third quarter worth $254,000. Finally, D.A. Davidson & CO. boosted its stake in Tyler Technologies by 26.2% during the third quarter. D.A. Davidson & CO. now owns 1,756 shares of the technology company’s stock worth $306,000 after buying an additional 365 shares in the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.
A number of equities research analysts have weighed in on the stock. Maxim Group set a $220.00 price target on shares of Tyler Technologies and gave the stock a “buy” rating in a research note on Thursday. Zacks Investment Research upgraded shares of Tyler Technologies from a “hold” rating to a “buy” rating and set a $198.00 price target on the stock in a research note on Wednesday, November 1st. B. Riley downgraded shares of Tyler Technologies from a “buy” rating to a “neutral” rating and set a $184.00 price target on the stock. in a research note on Friday, October 27th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $220.00 price target on shares of Tyler Technologies in a research note on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $200.29.
Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, February 21st. The technology company reported $1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.03. Tyler Technologies had a net margin of 19.50% and a return on equity of 12.49%. The company had revenue of $217.85 million for the quarter, compared to the consensus estimate of $220.56 million. During the same quarter in the previous year, the company earned $0.90 EPS. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. equities research analysts forecast that Tyler Technologies, Inc. will post 3.74 earnings per share for the current year.
In related news, VP Brian K. Miller sold 4,860 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $178.34, for a total transaction of $866,732.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Larry D. Leinweber sold 21,249 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $181.95, for a total transaction of $3,866,255.55. The disclosure for this sale can be found here. Insiders sold a total of 239,007 shares of company stock worth $43,497,883 in the last 90 days. 10.30% of the stock is owned by corporate insiders.
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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