Metropolitan Life Insurance Co NY Reduces Stock Position in Tyler Technologies, Inc. (NYSE:TYL)

Metropolitan Life Insurance Co NY lowered its stake in Tyler Technologies, Inc. (NYSE:TYL) by 1.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,897 shares of the technology company’s stock after selling 202 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Tyler Technologies were worth $2,636,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in TYL. Cleararc Capital Inc. purchased a new position in Tyler Technologies in the first quarter valued at about $201,000. Nordea Investment Management AB boosted its holdings in Tyler Technologies by 12.1% in the first quarter. Nordea Investment Management AB now owns 40,128 shares of the technology company’s stock valued at $8,202,000 after purchasing an additional 4,344 shares during the last quarter. Cerebellum GP LLC purchased a new position in Tyler Technologies in the first quarter valued at about $331,000. Marshall Wace LLP boosted its holdings in Tyler Technologies by 84.5% in the first quarter. Marshall Wace LLP now owns 32,351 shares of the technology company’s stock valued at $6,613,000 after purchasing an additional 14,820 shares during the last quarter. Finally, Blair William & Co. IL boosted its holdings in Tyler Technologies by 18.6% in the first quarter. Blair William & Co. IL now owns 424,804 shares of the technology company’s stock valued at $86,830,000 after purchasing an additional 66,525 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

In related news, Chairman John S. Marr, Jr. sold 30,000 shares of Tyler Technologies stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $220.17, for a total transaction of $6,605,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Glenn A. Carter sold 325 shares of Tyler Technologies stock in a transaction on Friday, June 14th. The shares were sold at an average price of $221.46, for a total value of $71,974.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,636 shares of company stock valued at $13,101,345. Insiders own 4.40% of the company’s stock.

Shares of TYL stock traded up $0.74 during mid-day trading on Friday, hitting $227.27. 104,116 shares of the stock traded hands, compared to its average volume of 140,095. The stock has a market capitalization of $8.71 billion, a price-to-earnings ratio of 60.77 and a beta of 0.92. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.08. The stock’s 50-day simple moving average is $218.67. Tyler Technologies, Inc. has a twelve month low of $173.26 and a twelve month high of $252.47.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, May 1st. The technology company reported $0.95 earnings per share for the quarter, hitting the consensus estimate of $0.95. The business had revenue of $247.10 million during the quarter, compared to analyst estimates of $251.75 million. Tyler Technologies had a return on equity of 11.28% and a net margin of 14.23%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same period last year, the company posted $1.13 EPS. Equities analysts forecast that Tyler Technologies, Inc. will post 4.17 earnings per share for the current year.

A number of brokerages recently commented on TYL. Northland Securities set a $11.00 price target on Lazydays and gave the company a “buy” rating in a report on Friday, March 22nd. KeyCorp reissued a “hold” rating on shares of Tyler Technologies in a report on Monday, March 25th. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Zacks Investment Research raised SCHNEIDER ELEC /ADR from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Friday, July 5th. Finally, Northcoast Research initiated coverage on Tyler Technologies in a report on Thursday, March 28th. They issued a “buy” rating and a $250.00 price target on the stock. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Tyler Technologies has a consensus rating of “Buy” and an average target price of $233.86.

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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Institutional Ownership by Quarter for Tyler Technologies (NYSE:TYL)

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