Spence Asset Management grew its stake in Tyler Technologies, Inc. (NYSE:TYL) by 63.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,356 shares of the technology company’s stock after acquiring an additional 22,619 shares during the period. Tyler Technologies accounts for about 7.0% of Spence Asset Management’s investment portfolio, making the stock its 4th biggest position. Spence Asset Management owned approximately 0.15% of Tyler Technologies worth $11,928,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Quantamental Technologies LLC acquired a new position in Tyler Technologies during the fourth quarter worth $33,000. Cutler Group LP bought a new stake in Tyler Technologies in the 4th quarter worth approximately $37,000. Captrust Financial Advisors increased its stake in Tyler Technologies by 22.9% in the 4th quarter. Captrust Financial Advisors now owns 403 shares of the technology company’s stock worth $75,000 after acquiring an additional 75 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Tyler Technologies in the 4th quarter worth approximately $79,000. Finally, Bronfman E.L. Rothschild L.P. increased its position in shares of Tyler Technologies by 15.6% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 629 shares of the technology company’s stock valued at $117,000 after purchasing an additional 85 shares during the last quarter. 90.58% of the stock is owned by institutional investors.
In related news, Director Dustin R. Womble sold 3,676 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $206.87, for a total transaction of $760,454.12. Following the transaction, the director now directly owns 181,798 shares of the company’s stock, valued at approximately $37,608,552.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John S. Marr, Jr. sold 30,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $200.84, for a total value of $6,025,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 43,676 shares of company stock worth $8,798,254 over the last ninety days. 4.40% of the stock is currently owned by corporate insiders.
Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, February 20th. The technology company reported $1.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.29. The business had revenue of $242.00 million during the quarter, compared to analysts’ expectations of $244.65 million. Tyler Technologies had a return on equity of 11.28% and a net margin of 15.74%. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.07 EPS. Sell-side analysts anticipate that Tyler Technologies, Inc. will post 4.17 EPS for the current fiscal year.
Several equities analysts have recently weighed in on TYL shares. Northland Securities reissued a “buy” rating and set a $240.00 target price on shares of Tyler Technologies in a research report on Friday, March 22nd. DA Davidson downgraded Tyler Technologies from a “buy” rating to a “neutral” rating and set a $210.00 target price on the stock. in a research report on Friday, February 22nd. ValuEngine downgraded Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Friday, January 11th. KeyCorp reissued a “hold” rating on shares of Tyler Technologies in a research report on Thursday, February 21st. Finally, Zacks Investment Research downgraded Tyler Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, February 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $239.70.
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Tyler Technologies Profile
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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