Tyler Technologies, Inc. (TYL) Shares Bought by State Treasurer State of Michigan

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State Treasurer State of Michigan grew its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 9.2% during the third quarter, HoldingsChannel.com reports. The fund owned 14,300 shares of the technology company’s stock after purchasing an additional 1,200 shares during the period. State Treasurer State of Michigan’s holdings in Tyler Technologies were worth $3,504,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Alps Advisors Inc. purchased a new position in shares of Tyler Technologies during the 2nd quarter worth approximately $209,000. Welch & Forbes LLC purchased a new stake in shares of Tyler Technologies in the 2nd quarter worth approximately $222,000. Natixis purchased a new stake in shares of Tyler Technologies in the 2nd quarter worth approximately $270,000. Gideon Capital Advisors Inc. purchased a new stake in shares of Tyler Technologies in the 2nd quarter worth approximately $324,000. Finally, Ontario Teachers Pension Plan Board purchased a new stake in shares of Tyler Technologies in the 2nd quarter worth approximately $352,000. Hedge funds and other institutional investors own 91.71% of the company’s stock.

Several brokerages have commented on TYL. Zacks Investment Research downgraded Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. B. Riley increased their target price on Tyler Technologies from $200.00 to $206.00 and gave the company a “neutral” rating in a research note on Monday, July 30th. Finally, Robert W. Baird reiterated a “buy” rating and set a $260.00 target price (up from $240.00) on shares of Tyler Technologies in a research note on Friday, July 27th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Tyler Technologies has an average rating of “Buy” and an average target price of $233.20.

Shares of TYL opened at $208.21 on Wednesday. Tyler Technologies, Inc. has a 12 month low of $168.12 and a 12 month high of $252.47. The firm has a market cap of $7.97 billion, a price-to-earnings ratio of 65.47, a price-to-earnings-growth ratio of 5.42 and a beta of 0.82.

In other news, insider John S. Marr, Jr. sold 24,000 shares of the stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $231.89, for a total transaction of $5,565,360.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Brian K. Miller sold 10,000 shares of the stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $233.87, for a total value of $2,338,700.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 133,397 shares of company stock worth $32,234,944. Company insiders own 4.70% of the company’s stock.

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.

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

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