Municipal Employees Retirement System of Michigan Acquires 80 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Municipal Employees Retirement System of Michigan lifted its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 1.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,080 shares of the technology company’s stock after buying an additional 80 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Tyler Technologies were worth $1,529,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TYL. Howe & Rusling Inc. raised its holdings in Tyler Technologies by 0.6% during the 1st quarter. Howe & Rusling Inc. now owns 9,707 shares of the technology company’s stock worth $1,984,000 after purchasing an additional 55 shares during the last quarter. Zions Bancorporation N.A. raised its holdings in Tyler Technologies by 6.2% during the 2nd quarter. Zions Bancorporation N.A. now owns 971 shares of the technology company’s stock worth $210,000 after purchasing an additional 57 shares during the last quarter. Bessemer Group Inc. raised its holdings in Tyler Technologies by 3.4% during the 2nd quarter. Bessemer Group Inc. now owns 2,067 shares of the technology company’s stock worth $446,000 after purchasing an additional 67 shares during the last quarter. Tompkins Financial Corp raised its holdings in Tyler Technologies by 42.0% during the 2nd quarter. Tompkins Financial Corp now owns 291 shares of the technology company’s stock worth $63,000 after purchasing an additional 86 shares during the last quarter. Finally, Granite Investment Partners LLC raised its holdings in Tyler Technologies by 0.5% during the 1st quarter. Granite Investment Partners LLC now owns 20,807 shares of the technology company’s stock worth $4,253,000 after purchasing an additional 98 shares during the last quarter. 88.35% of the stock is owned by institutional investors and hedge funds.

Several analysts have weighed in on TYL shares. Benchmark boosted their price objective on Tyler Technologies from $235.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. KeyCorp reissued a “hold” rating on shares of Tyler Technologies in a report on Thursday, August 1st. ValuEngine raised Tyler Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd. Needham & Company LLC boosted their price objective on Tyler Technologies to $280.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Northland Securities reissued a “buy” rating on shares of Tyler Technologies in a report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Tyler Technologies currently has an average rating of “Buy” and a consensus price target of $249.50.

In other news, insider H Lynn Moore, Jr. sold 15,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $256.06, for a total transaction of $3,840,900.00. Following the completion of the transaction, the insider now directly owns 78,675 shares in the company, valued at approximately $20,145,520.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Brian K. Miller sold 4,000 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $220.65, for a total value of $882,600.00. Following the transaction, the vice president now owns 47,932 shares of the company’s stock, valued at $10,576,195.80. The disclosure for this sale can be found here. Insiders have sold a total of 104,585 shares of company stock valued at $24,546,546 over the last 90 days. Corporate insiders own 4.40% of the company’s stock.

Shares of Tyler Technologies stock traded up $4.01 during trading on Tuesday, hitting $255.76. 75,647 shares of the company were exchanged, compared to its average volume of 257,276. The company has a market capitalization of $9.81 billion, a price-to-earnings ratio of 68.39 and a beta of 0.92. Tyler Technologies, Inc. has a 1-year low of $173.26 and a 1-year high of $257.51. The stock has a fifty day moving average price of $229.81. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.00 and a quick ratio of 1.00.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, July 31st. The technology company reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.05. The company had revenue of $275.10 million during the quarter, compared to analyst estimates of $274.88 million. Tyler Technologies had a return on equity of 11.44% and a net margin of 12.96%. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.18 EPS. Sell-side analysts predict that Tyler Technologies, Inc. will post 4.16 EPS for the current year.

Tyler Technologies Company 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.

Further Reading: Quiet Period

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

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