Northwestern Mutual Investment Management Company LLC lessened its position in Tyler Technologies, Inc. (NYSE:TYL) by 2.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 5,613 shares of the technology company’s stock after selling 162 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Tyler Technologies were worth $936,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its position in shares of Tyler Technologies by 42.2% during the first quarter. Goldman Sachs Group Inc. now owns 756,703 shares of the technology company’s stock valued at $116,957,000 after buying an additional 224,642 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Tyler Technologies by 40.2% during the second quarter. JPMorgan Chase & Co. now owns 1,027,797 shares of the technology company’s stock worth $180,554,000 after acquiring an additional 294,817 shares during the period. Louisiana State Employees Retirement System lifted its holdings in Tyler Technologies by 3.5% during the second quarter. Louisiana State Employees Retirement System now owns 8,800 shares of the technology company’s stock worth $1,546,000 after acquiring an additional 300 shares during the period. Morgan Stanley lifted its holdings in Tyler Technologies by 24.5% during the first quarter. Morgan Stanley now owns 71,848 shares of the technology company’s stock worth $11,105,000 after acquiring an additional 14,119 shares during the period. Finally, Sei Investments Co. lifted its holdings in Tyler Technologies by 19.7% during the first quarter. Sei Investments Co. now owns 71,165 shares of the technology company’s stock worth $10,999,000 after acquiring an additional 11,708 shares during the period. 90.51% of the stock is currently owned by institutional investors.
Shares of Tyler Technologies, Inc. (NYSE:TYL) opened at 173.40 on Friday. The company’s 50 day moving average price is $170.29 and its 200-day moving average price is $166.78. The company has a market capitalization of $6.47 billion, a price-to-earnings ratio of 51.95 and a beta of 0.95. Tyler Technologies, Inc. has a 1-year low of $139.61 and a 1-year high of $182.49.
Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.91 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.03). Tyler Technologies had a net margin of 14.73% and a return on equity of 13.02%. The business had revenue of $209.12 million during the quarter, compared to analysts’ expectations of $210.67 million. During the same period in the prior year, the business earned $0.86 EPS. The business’s quarterly revenue was up 10.7% on a year-over-year basis. On average, equities analysts forecast that Tyler Technologies, Inc. will post $3.87 earnings per share for the current year.
A number of brokerages recently commented on TYL. B. Riley reiterated a “buy” rating and set a $184.00 price target on shares of Tyler Technologies in a report on Friday, July 28th. Citigroup Inc. assumed coverage on Tyler Technologies in a report on Friday. They set a “buy” rating and a $200.00 price target on the stock. BidaskClub lowered Tyler Technologies from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Northland Securities restated a “buy” rating and issued a $200.00 target price on shares of Tyler Technologies in a research note on Thursday. Finally, Zacks Investment Research lowered Tyler Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 13th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Tyler Technologies has a consensus rating of “Buy” and an average price target of $195.29.
In related news, Director Larry D. Leinweber sold 36,000 shares of Tyler Technologies stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $171.82, for a total transaction of $6,185,520.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Brian K. Miller sold 1,848 shares of Tyler Technologies stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $172.58, for a total transaction of $318,927.84. Following the sale, the vice president now owns 52,657 shares in the company, valued at $9,087,545.06. The disclosure for this sale can be found here. Insiders sold a total of 279,357 shares of company stock worth $47,777,389 over the last 90 days. Company insiders own 10.30% of the company’s stock.
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About Tyler Technologies
Tyler Technologies, Inc is a provider of information management solutions and services for the public sector, with a focus on local governments. The Company operates through two segments: Enterprise Software (ES) segment and The Appraisal and Tax (A&T) segment. ES segment provides municipal and county governments and schools with software systems and services for information technology and automation needs that includes back-office functions, such as financial management, courts and justice processes, public safety, planning regulatory and maintenance, and land and vital records management.
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