Cutler Group LP Takes Position in Tyler Technologies, Inc. (TYL)

Cutler Group LP purchased a new stake in shares of Tyler Technologies, Inc. (NYSE:TYL) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 200 shares of the technology company’s stock, valued at approximately $37,000.

Other institutional investors have also added to or reduced their stakes in the company. Dock Street Asset Management Inc. purchased a new stake in Tyler Technologies during the fourth quarter valued at $557,000. Retirement Systems of Alabama raised its stake in Tyler Technologies by 17.2% during the third quarter. Retirement Systems of Alabama now owns 59,922 shares of the technology company’s stock valued at $14,684,000 after purchasing an additional 8,814 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in Tyler Technologies by 37.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 30,793 shares of the technology company’s stock valued at $7,547,000 after purchasing an additional 8,421 shares in the last quarter. Eagle Asset Management Inc. raised its stake in Tyler Technologies by 11.3% during the third quarter. Eagle Asset Management Inc. now owns 293,854 shares of the technology company’s stock valued at $72,011,000 after purchasing an additional 29,774 shares in the last quarter. Finally, First Hawaiian Bank purchased a new stake in Tyler Technologies during the third quarter valued at $898,000. 98.53% of the stock is currently owned by institutional investors.

TYL stock opened at $209.64 on Wednesday. Tyler Technologies, Inc. has a twelve month low of $173.26 and a twelve month high of $252.47. The firm has a market cap of $8.05 billion, a price-to-earnings ratio of 65.92, a PEG ratio of 4.58 and a beta of 0.81.

A number of research firms recently issued reports on TYL. ValuEngine raised shares of Tyler Technologies from a “hold” rating to a “buy” rating in a research note on Friday, February 8th. DA Davidson upgraded shares of Tyler Technologies from a “neutral” rating to a “buy” rating in a research report on Friday, December 21st. Zacks Investment Research upgraded shares of Tyler Technologies from a “sell” rating to a “hold” rating in a research report on Friday, December 7th. TheStreet cut shares of Tyler Technologies from a “b” rating to a “c+” rating in a research report on Thursday, November 1st. Finally, Robert W. Baird cut their price objective on shares of Tyler Technologies from $260.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, November 2nd. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $233.36.

In other news, Director Dustin R. Womble sold 20,000 shares of the company’s stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $190.66, for a total value of $3,813,200.00. Following the transaction, the director now directly owns 198,122 shares in the company, valued at $37,773,940.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Dustin R. Womble sold 7,500 shares of the company’s stock in a transaction dated Friday, December 14th. The stock was sold at an average price of $186.26, for a total transaction of $1,396,950.00. Following the completion of the transaction, the director now owns 185,622 shares in the company, valued at $34,573,953.72. The disclosure for this sale can be found here. Insiders own 4.70% of the company’s stock.

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About Tyler Technologies

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.

Featured Article: Asset Allocation

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

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