New York State Common Retirement Fund decreased its holdings in GTY Technology Holdings Inc. (NASDAQ:GTYH) by 44.6% in the second quarter, HoldingsChannel.com reports. The firm owned 17,119 shares of the company’s stock after selling 13,781 shares during the quarter. New York State Common Retirement Fund’s holdings in GTY Technology were worth $122,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GTYH. Squarepoint Ops LLC acquired a new position in GTY Technology in the 1st quarter worth about $87,000. Dimensional Fund Advisors LP raised its holdings in GTY Technology by 38.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 20,694 shares of the company’s stock worth $107,000 after purchasing an additional 5,711 shares during the period. Cubist Systematic Strategies LLC acquired a new position in GTY Technology in the 1st quarter worth about $108,000. Citadel Advisors LLC acquired a new position in GTY Technology in the 1st quarter worth about $119,000. Finally, BNP Paribas Arbitrage SA raised its holdings in GTY Technology by 91.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 21,495 shares of the company’s stock worth $137,000 after purchasing an additional 10,244 shares during the period. 45.44% of the stock is owned by institutional investors.
Separately, DA Davidson initiated coverage on GTY Technology in a report on Thursday, August 12th. They set a “buy” rating and a $10.00 target price for the company.
Shares of GTY Technology stock opened at $7.50 on Wednesday. The business has a 50 day simple moving average of $7.14 and a two-hundred day simple moving average of $6.64. GTY Technology Holdings Inc. has a 12 month low of $2.16 and a 12 month high of $8.28. The stock has a market capitalization of $431.36 million, a P/E ratio of -8.84 and a beta of 0.15. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.98 and a quick ratio of 0.98.
GTY Technology (NASDAQ:GTYH) last announced its earnings results on Thursday, August 5th. The company reported ($0.10) EPS for the quarter. GTY Technology had a negative net margin of 82.51% and a negative return on equity of 13.88%. The firm had revenue of $14.32 million for the quarter. As a group, research analysts anticipate that GTY Technology Holdings Inc. will post -0.16 EPS for the current fiscal year.
About GTY Technology
GTY Technology Holdings, Inc is software as a service (“SaaS“) company that offers a cloud-based suite of solutions for the public sector, in North America. The company operates through six operating subsidiaries: Bonfire provides strategic sourcing and procurement software to enable confident and compliant spending decisions; CityBase provides government payment solutions to connect constituents with utilities and government agencies; eCivis offers a grants management system to maximize grant revenues and track performance; Open Counter provides government permitting software to guide applicants through complex permitting and licensing procedures; Questica offers budget preparation and management software to deliver on financial and non-financial strategic objectives; Sherpa provides public sector budgeting software and consulting services.
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