Latitude Advisors LLC increased its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 0.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,399 shares of the technology company’s stock after buying an additional 75 shares during the quarter. Tyler Technologies accounts for 4.7% of Latitude Advisors LLC’s investment portfolio, making the stock its 4th largest holding. Latitude Advisors LLC’s holdings in Tyler Technologies were worth $5,688,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently made changes to their positions in TYL. Fieldpoint Private Securities LLC purchased a new stake in Tyler Technologies during the 4th quarter worth about $26,000. Capital Asset Advisory Services LLC bought a new position in Tyler Technologies during the 4th quarter worth approximately $28,000. JJJ Advisors Inc. lifted its stake in shares of Tyler Technologies by 840.0% in the 4th quarter. JJJ Advisors Inc. now owns 94 shares of the technology company’s stock valued at $41,000 after purchasing an additional 84 shares during the period. International Assets Investment Management LLC purchased a new position in Tyler Technologies during the fourth quarter valued at $51,000. Finally, Vantage Consulting Group Inc purchased a new position in Tyler Technologies during the fourth quarter valued at $69,000. Institutional investors and hedge funds own 91.99% of the company’s stock.
NYSE:TYL traded up $6.17 during mid-day trading on Friday, hitting $449.43. 113,812 shares of the company traded hands, compared to its average volume of 285,462. The stock’s fifty day moving average price is $427.81 and its 200-day moving average price is $422.49. Tyler Technologies, Inc. has a one year low of $305.30 and a one year high of $479.79. The firm has a market cap of $18.30 billion, a price-to-earnings ratio of 98.78, a price-to-earnings-growth ratio of 6.48 and a beta of 0.67.
A number of research analysts have issued reports on the company. JMP Securities lifted their price objective on Tyler Technologies from $435.00 to $480.00 and gave the company a “market outperform” rating in a research note on Thursday, February 11th. Needham & Company LLC decreased their price target on Tyler Technologies from $510.00 to $480.00 and set a “buy” rating for the company in a research note on Thursday, April 1st. DA Davidson boosted their price target on Tyler Technologies from $370.00 to $395.00 and gave the stock a “neutral” rating in a research note on Friday, February 12th. They noted that the move was a valuation call. Northcoast Research upgraded Tyler Technologies from a “neutral” rating to a “buy” rating and set a $500.00 price target for the company in a research note on Wednesday, March 17th. Finally, Zacks Investment Research upgraded Tyler Technologies from a “strong sell” rating to a “hold” rating and set a $459.00 price target for the company in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Tyler Technologies currently has a consensus rating of “Buy” and a consensus target price of $421.20.
In related news, Director Daniel M. Pope sold 705 shares of the business’s stock in a transaction dated Wednesday, February 17th. The stock was sold at an average price of $464.57, for a total value of $327,521.85. Following the sale, the director now directly owns 3,375 shares in the company, valued at $1,567,923.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman John S. Marr, Jr. sold 15,000 shares of the business’s stock in a transaction dated Wednesday, February 17th. The stock was sold at an average price of $466.40, for a total value of $6,996,000.00. Following the completion of the sale, the chairman now owns 107,753 shares in the company, valued at $50,255,999.20. The disclosure for this sale can be found here. Insiders have sold 56,211 shares of company stock valued at $26,287,848 in the last three months. 3.60% 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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