Squarepoint Ops LLC grew its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 307.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,365 shares of the technology company’s stock after purchasing an additional 16,877 shares during the period. Squarepoint Ops LLC owned about 0.06% of Tyler Technologies worth $5,871,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Van ECK Associates Corp purchased a new position in Tyler Technologies in the 2nd quarter worth about $40,000. Quadrant Capital Group LLC grew its stake in Tyler Technologies by 233.3% in the 3rd quarter. Quadrant Capital Group LLC now owns 220 shares of the technology company’s stock worth $56,000 after acquiring an additional 154 shares in the last quarter. Cerebellum GP LLC grew its stake in Tyler Technologies by 25.0% in the 3rd quarter. Cerebellum GP LLC now owns 250 shares of the technology company’s stock worth $66,000 after acquiring an additional 50 shares in the last quarter. Advisory Services Network LLC grew its stake in Tyler Technologies by 42.3% in the 2nd quarter. Advisory Services Network LLC now owns 313 shares of the technology company’s stock worth $68,000 after acquiring an additional 93 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. increased its position in shares of Tyler Technologies by 40.2% during the third quarter. Shine Investment Advisory Services Inc. now owns 366 shares of the technology company’s stock worth $96,000 after acquiring an additional 105 shares during the period. Institutional investors and hedge funds own 88.31% of the company’s stock.
Several research firms have recently weighed in on TYL. JMP Securities lifted their price target on shares of Tyler Technologies from $245.00 to $286.00 and gave the company a “market outperform” rating in a research note on Friday, September 27th. DA Davidson increased their price objective on Tyler Technologies from $216.00 to $238.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. They noted that the move was a valuation call. ValuEngine downgraded Tyler Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Needham & Company LLC reaffirmed a “buy” rating on shares of Tyler Technologies in a research report on Thursday, October 31st. Finally, Oppenheimer began coverage on Tyler Technologies in a research report on Monday, October 7th. They set an “outperform” rating and a $300.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $271.25.
Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.01). Tyler Technologies had a return on equity of 11.51% and a net margin of 12.63%. The business had revenue of $275.40 million during the quarter, compared to analysts’ expectations of $281.03 million. During the same period in the previous year, the company posted $1.23 EPS. Tyler Technologies’s revenue for the quarter was up 16.6% on a year-over-year basis. Equities analysts expect that Tyler Technologies, Inc. will post 4.15 earnings per share for the current fiscal year.
In related news, CEO H Lynn Moore, Jr. sold 10,000 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $290.02, for a total transaction of $2,900,200.00. Following the completion of the sale, the chief executive officer now directly owns 73,672 shares in the company, valued at approximately $21,366,353.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dustin R. Womble sold 4,800 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $255.75, for a total value of $1,227,600.00. Following the sale, the director now owns 182,922 shares of the company’s stock, valued at $46,782,301.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,300 shares of company stock worth $9,165,090. 4.40% of the stock is currently owned by corporate insiders.
About Tyler Technologies
Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. The company operates in two segments, Enterprise Software, and Appraisal and Tax. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools.
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