Mackenzie Financial Corp Increases Holdings in Tyler Technologies, Inc. (TYL)
Mackenzie Financial Corp raised its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 0.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 270,858 shares of the technology company’s stock after purchasing an additional 2,111 shares during the quarter. Mackenzie Financial Corp owned approximately 0.72% of Tyler Technologies worth $47,216,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in TYL. Lakeview Capital Partners LLC bought a new position in Tyler Technologies during the 2nd quarter worth $211,000. CIBC Asset Management Inc bought a new position in Tyler Technologies during the 3rd quarter worth $218,000. D.A. Davidson & CO. increased its position in Tyler Technologies by 13.3% during the 2nd quarter. D.A. Davidson & CO. now owns 1,391 shares of the technology company’s stock worth $244,000 after buying an additional 163 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Tyler Technologies by 8.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,412 shares of the technology company’s stock worth $248,000 after buying an additional 114 shares during the period. Finally, Fiduciary Trust Co. bought a new position in Tyler Technologies during the 2nd quarter worth $250,000. 93.34% of the stock is owned by institutional investors and hedge funds.
Several research analysts have weighed in on the company. Zacks Investment Research cut Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Saturday. BidaskClub upgraded Tyler Technologies from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 23rd. B. Riley reiterated a “neutral” rating and set a $184.00 price objective on shares of Tyler Technologies in a research report on Thursday, October 26th. Northland Securities reiterated a “buy” rating and set a $200.00 price objective on shares of Tyler Technologies in a research report on Thursday, September 21st. Finally, Maxim Group set a $197.00 price objective on Tyler Technologies and gave the stock a “buy” rating in a research report on Thursday, October 26th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $193.00.
Shares of Tyler Technologies, Inc. (TYL) traded down $0.01 during midday trading on Wednesday, hitting $183.70. The company had a trading volume of 522,700 shares, compared to its average volume of 193,576. Tyler Technologies, Inc. has a 52 week low of $139.61 and a 52 week high of $188.21. The company has a market capitalization of $6,901.64, a PE ratio of 56.35 and a beta of 0.97.
Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, October 25th. The technology company reported $1.05 EPS for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.03. Tyler Technologies had a return on equity of 12.81% and a net margin of 16.34%. The company had revenue of $214.15 million for the quarter, compared to analysts’ expectations of $216.80 million. During the same quarter last year, the business earned $0.94 earnings per share. Tyler Technologies’s revenue was up 10.1% on a year-over-year basis. sell-side analysts predict that Tyler Technologies, Inc. will post 3.28 EPS for the current year.
In related news, Director Dustin R. Womble sold 8,712 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $171.77, for a total value of $1,496,460.24. Following the sale, the director now directly owns 229,822 shares of the company’s stock, valued at $39,476,524.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Larry D. Leinweber sold 50,000 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $182.21, for a total value of $9,110,500.00. The disclosure for this sale can be found here. Insiders sold 224,781 shares of company stock worth $39,741,082 in the last 90 days. 10.30% of the stock is owned by company insiders.
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Tyler Technologies Company Profile
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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