Tyler Technologies, Inc. (NYSE:TYL) was the recipient of a significant decrease in short interest during the month of April. As of April 15th, there was short interest totalling 857,500 shares, a decrease of 15.1% from the March 31st total of 1,010,000 shares. Based on an average daily volume of 288,500 shares, the short-interest ratio is currently 3.0 days.
A number of research analysts have commented on TYL shares. JMP Securities increased their target price on Tyler Technologies from $435.00 to $480.00 and gave the stock a "market outperform" rating in a report on Thursday, February 11th. Zacks Investment Research raised Tyler Technologies from a "strong sell" rating to a "hold" rating and set a $459.00 target price on the stock in a report on Tuesday, April 13th. Needham & Company LLC dropped their price target on Tyler Technologies from $510.00 to $480.00 and set a "buy" rating on the stock in a research report on Thursday, April 1st. DA Davidson increased their price target on Tyler Technologies from $370.00 to $395.00 and gave the stock a "neutral" rating in a research report on Friday, February 12th. They noted that the move was a valuation call. Finally, Northcoast Research upgraded Tyler Technologies from a "neutral" rating to a "buy" rating and set a $500.00 price target on the stock in a research report on Wednesday, March 17th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. The company presently has a consensus rating of "Buy" and a consensus price target of $434.67.
TYL opened at $428.65 on Tuesday. Tyler Technologies has a 12 month low of $308.92 and a 12 month high of $479.79. The stock has a market cap of $17.45 billion, a P/E ratio of 94.21, a P/E/G ratio of 6.48 and a beta of 0.67. The stock's 50 day moving average price is $433.04 and its 200 day moving average price is $429.06.
Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, April 28th. The technology company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.48. Tyler Technologies had a return on equity of 9.91% and a net margin of 16.71%. The company had revenue of $294.80 million for the quarter, compared to analysts' expectations of $289.70 million. During the same period last year, the firm earned $1.25 EPS. The firm's revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities analysts predict that Tyler Technologies will post 4.14 EPS for the current fiscal year.
In other Tyler Technologies news, Director Daniel M. Pope sold 705 shares of the stock in a transaction that occurred on Wednesday, February 17th. The stock was sold at an average price of $464.57, for a total transaction of $327,521.85. Following the transaction, the director now owns 3,375 shares of the company's stock, valued at approximately $1,567,923.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Donald R. Brattain sold 3,000 shares of the stock in a transaction that occurred on Monday, March 1st. The stock was sold at an average price of $477.58, for a total value of $1,432,740.00. Following the transaction, the director now directly owns 4,150 shares in the company, valued at approximately $1,981,957. The disclosure for this sale can be found here. Insiders 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 company insiders.
Large investors have recently made changes to their positions in the stock. Wealth Alliance bought a new position in Tyler Technologies during the third quarter valued at about $203,000. Great West Life Assurance Co. Can raised its holdings in Tyler Technologies by 10.0% during the third quarter. Great West Life Assurance Co. Can now owns 40,567 shares of the technology company's stock valued at $14,115,000 after buying an additional 3,699 shares in the last quarter. Brinker Capital Investments LLC bought a new position in Tyler Technologies during the third quarter valued at about $750,000. Van ECK Associates Corp raised its holdings in Tyler Technologies by 80.9% during the third quarter. Van ECK Associates Corp now owns 465 shares of the technology company's stock valued at $162,000 after buying an additional 208 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in Tyler Technologies by 17.5% during the third quarter. Sei Investments Co. now owns 38,517 shares of the technology company's stock valued at $13,392,000 after buying an additional 5,745 shares in the last quarter. Institutional investors and hedge funds own 91.99% of the company's stock.
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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