BlackRock Inc. Raises Stake in Tyler Technologies, Inc. (TYL)

BlackRock Inc. lifted its position in Tyler Technologies, Inc. (NYSE:TYL) by 6.8% during the 3rd quarter, Holdings Channel reports. The firm owned 3,412,924 shares of the technology company’s stock after acquiring an additional 217,184 shares during the quarter. BlackRock Inc. owned 0.09% of Tyler Technologies worth $836,373,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in shares of Tyler Technologies by 5.6% in the third quarter. JPMorgan Chase & Co. now owns 1,248,274 shares of the technology company’s stock worth $305,901,000 after purchasing an additional 65,928 shares during the last quarter. Morgan Stanley grew its position in Tyler Technologies by 949.5% in the second quarter. Morgan Stanley now owns 940,517 shares of the technology company’s stock worth $208,889,000 after acquiring an additional 850,905 shares in the last quarter. Bank of New York Mellon Corp grew its position in Tyler Technologies by 3.7% in the third quarter. Bank of New York Mellon Corp now owns 476,999 shares of the technology company’s stock worth $116,894,000 after acquiring an additional 17,190 shares in the last quarter. Federated Investors Inc. PA grew its position in Tyler Technologies by 3.8% in the second quarter. Federated Investors Inc. PA now owns 469,342 shares of the technology company’s stock worth $104,241,000 after acquiring an additional 17,026 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its position in Tyler Technologies by 2.2% in the second quarter. CIBC Private Wealth Group LLC now owns 443,270 shares of the technology company’s stock worth $98,450,000 after acquiring an additional 9,355 shares in the last quarter. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

In other Tyler Technologies news, Director Luther King, Jr. sold 275 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $193.29, for a total transaction of $53,154.75. Following the completion of the transaction, the director now owns 72,864 shares in the company, valued at $14,083,882.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brenda A. Cline sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $250.39, for a total value of $1,001,560.00. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $1,251,950. The disclosure for this sale can be found here. Insiders have sold 29,927 shares of company stock valued at $7,408,680 in the last 90 days. Company insiders own 4.70% of the company’s stock.

TYL has been the subject of several recent research reports. TheStreet lowered Tyler Technologies from a “b” rating to a “c+” rating in a research report on Thursday, November 1st. JMP Securities dropped their price target on Tyler Technologies from $250.00 to $245.00 and set a “market outperform” rating for the company in a research report on Thursday, November 1st. Robert W. Baird dropped their price target on Tyler Technologies from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, November 2nd. KeyCorp reiterated a “hold” rating on shares of Tyler Technologies in a research report on Friday, November 2nd. Finally, Zacks Investment Research upgraded Tyler Technologies from a “hold” rating to a “buy” rating and set a $236.00 price target for the company in a research report on Saturday, October 27th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $233.36.

TYL opened at $192.76 on Friday. Tyler Technologies, Inc. has a 12 month low of $176.36 and a 12 month high of $252.47. The stock has a market capitalization of $7.42 billion, a P/E ratio of 60.62, a P/E/G ratio of 5.07 and a beta of 0.92.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, October 31st. The technology company reported $1.23 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.23. Tyler Technologies had a return on equity of 11.19% and a net margin of 19.47%. The business had revenue of $236.10 million during the quarter, compared to analyst estimates of $240.98 million. During the same quarter in the previous year, the business earned $1.05 earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, analysts expect that Tyler Technologies, Inc. will post 3.77 EPS for the current year.

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Tyler Technologies Company Profile

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. It operates through two segments, Enterprise Software, and Appraisal and Tax. The company's financial management solutions include modular fund accounting systems for government agencies or not-for-profit entities; and utility billing systems for the billing and collection of metered and non-metered services.

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

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