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State Board of Administration of Florida Retirement System Has $23.05 Million Position in Tyler Technologies, Inc. (NYSE:TYL)

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State Board of Administration of Florida Retirement System reduced its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 52,811 shares of the technology company’s stock after selling 378 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Tyler Technologies were worth $23,053,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in TYL. Louisiana State Employees Retirement System raised its stake in shares of Tyler Technologies by 17.6% in the third quarter. Louisiana State Employees Retirement System now owns 2,000 shares of the technology company’s stock worth $697,000 after acquiring an additional 300 shares during the last quarter. Candriam Luxembourg S.C.A. raised its stake in shares of Tyler Technologies by 2.6% in the third quarter. Candriam Luxembourg S.C.A. now owns 2,608 shares of the technology company’s stock worth $909,000 after acquiring an additional 67 shares during the last quarter. Standard Life Aberdeen plc raised its stake in shares of Tyler Technologies by 9.6% in the third quarter. Standard Life Aberdeen plc now owns 12,332 shares of the technology company’s stock worth $4,298,000 after acquiring an additional 1,078 shares during the last quarter. NEXT Financial Group Inc raised its stake in shares of Tyler Technologies by 11.9% in the third quarter. NEXT Financial Group Inc now owns 1,135 shares of the technology company’s stock worth $396,000 after acquiring an additional 121 shares during the last quarter. Finally, Prestige Wealth Management Group LLC raised its stake in shares of Tyler Technologies by 48.3% in the third quarter. Prestige Wealth Management Group LLC now owns 89 shares of the technology company’s stock worth $31,000 after acquiring an additional 29 shares during the last quarter. 91.99% of the stock is owned by institutional investors.

A number of equities research analysts recently weighed in on TYL shares. DA Davidson boosted their price target on shares of 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. Royal Bank of Canada boosted their price target on shares of Tyler Technologies from $375.00 to $405.00 and gave the stock an “outperform” rating in a research note on Friday, October 30th. JMP Securities boosted their price target on shares of Tyler Technologies from $435.00 to $480.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 11th. Finally, Needham & Company LLC dropped their price target on shares of Tyler Technologies from $380.00 to $280.00 and set a “buy” rating for the company in a research note on Thursday, November 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $377.22.

Shares of TYL opened at $459.62 on Tuesday. Tyler Technologies, Inc. has a 12 month low of $247.22 and a 12 month high of $479.61. The firm has a fifty day simple moving average of $437.50 and a 200 day simple moving average of $398.60. The stock has a market capitalization of $18.54 billion, a price-to-earnings ratio of 101.02, a PEG ratio of 6.48 and a beta of 0.67.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, February 10th. The technology company reported $1.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.42 by ($0.03). Tyler Technologies had a return on equity of 9.91% and a net margin of 16.71%. The business had revenue of $283.30 million for the quarter, compared to analyst estimates of $291.39 million. During the same quarter in the previous year, the company posted $1.43 EPS. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. On average, equities research analysts predict that Tyler Technologies, Inc. will post 4.14 EPS for the current year.

In other Tyler Technologies news, Chairman John S. Marr, Jr. sold 10,000 shares of the stock in a transaction on Tuesday, December 1st. The shares were sold at an average price of $429.99, for a total value of $4,299,900.00. Following the completion of the sale, the chairman now owns 128,761 shares in the company, valued at $55,365,942.39. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Brian K. Miller sold 6,417 shares of the stock in a transaction on Wednesday, December 9th. The shares were sold at an average price of $445.01, for a total transaction of $2,855,629.17. Following the completion of the sale, the chief financial officer now owns 47,836 shares of the company’s stock, valued at approximately $21,287,498.36. The disclosure for this sale can be found here. Insiders have sold 68,046 shares of company stock valued at $30,519,651 in the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

Tyler Technologies Company Profile

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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