IndexIQ Advisors LLC lowered its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 1.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,708 shares of the technology company’s stock after selling 104 shares during the quarter. IndexIQ Advisors LLC’s holdings in Tyler Technologies were worth $3,077,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. Global Retirement Partners LLC grew its stake in Tyler Technologies by 62.2% during the 3rd quarter. Global Retirement Partners LLC now owns 60 shares of the technology company’s stock worth $28,000 after purchasing an additional 23 shares in the last quarter. JNBA Financial Advisors acquired a new position in Tyler Technologies during the 3rd quarter worth $28,000. O Shaughnessy Asset Management LLC grew its stake in Tyler Technologies by 34.5% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 74 shares of the technology company’s stock worth $34,000 after purchasing an additional 19 shares in the last quarter. Duncker Streett & Co. Inc. acquired a new position in shares of Tyler Technologies during the 3rd quarter worth about $39,000. Finally, JJJ Advisors Inc. boosted its position in shares of Tyler Technologies by 89.4% in the 3rd quarter. JJJ Advisors Inc. now owns 89 shares of the technology company’s stock valued at $41,000 after purchasing an additional 42 shares during the period. Institutional investors own 90.02% of the company’s stock.
In related news, CFO Brian K. Miller sold 5,000 shares of the firm’s stock in a transaction on Tuesday, November 2nd. The shares were sold at an average price of $540.13, for a total transaction of $2,700,650.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brian K. Miller sold 3,500 shares of the firm’s stock in a transaction on Wednesday, December 15th. The shares were sold at an average price of $511.57, for a total transaction of $1,790,495.00. The disclosure for this sale can be found here. Insiders have sold 65,421 shares of company stock valued at $34,852,502 in the last ninety days. 2.70% of the stock is owned by company insiders.
Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, October 27th. The technology company reported $2.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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%. Tyler Technologies’s revenue for the quarter was up 60.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.17 earnings per share. On average, research analysts forecast that Tyler Technologies, Inc. will post 5.09 EPS for the current fiscal year.
Several research firms recently weighed in on TYL. Zacks Investment Research downgraded Tyler Technologies from a “buy” rating to a “hold” rating and set a $492.00 price objective for the company. in a research note on Tuesday, September 28th. JMP Securities increased their target price on Tyler Technologies from $525.00 to $580.00 and gave the company a “market outperform” rating in a report on Monday, November 1st. Piper Sandler raised their price objective on Tyler Technologies from $525.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, October 29th. Finally, TheStreet raised Tyler Technologies from a “c” rating to a “b-” rating in a research report on Wednesday, October 27th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $549.95.
Tyler Technologies Company Profile
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.
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