Summit Creek Advisors LLC decreased its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 0.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 50,644 shares of the technology company’s stock after selling 90 shares during the period. Tyler Technologies comprises about 1.8% of Summit Creek Advisors LLC’s investment portfolio, making the stock its 26th biggest holding. Summit Creek Advisors LLC owned about 0.13% of Tyler Technologies worth $10,352,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of TYL. Dock Street Asset Management Inc. bought a new position in Tyler Technologies in the fourth quarter worth about $557,000. Rhumbline Advisers raised its holdings in shares of Tyler Technologies by 32.8% during the fourth quarter. Rhumbline Advisers now owns 113,901 shares of the technology company’s stock valued at $21,165,000 after buying an additional 28,132 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Tyler Technologies by 28.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 211,568 shares of the technology company’s stock valued at $39,313,000 after buying an additional 46,379 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Tyler Technologies by 2.1% during the fourth quarter. State of Alaska Department of Revenue now owns 4,709 shares of the technology company’s stock valued at $875,000 after buying an additional 97 shares during the last quarter. Finally, Texas Permanent School Fund raised its holdings in shares of Tyler Technologies by 4.5% during the fourth quarter. Texas Permanent School Fund now owns 25,405 shares of the technology company’s stock valued at $4,721,000 after buying an additional 1,086 shares during the last quarter. 90.55% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE TYL traded up $0.15 during mid-day trading on Monday, reaching $217.15. 32,738 shares of the company traded hands, compared to its average volume of 241,652. Tyler Technologies, Inc. has a fifty-two week low of $173.26 and a fifty-two week high of $252.47. The firm has a market capitalization of $8.32 billion, a PE ratio of 58.06, a P/E/G ratio of 5.12 and a beta of 0.91.
A number of equities research analysts have recently weighed in on the company. TheStreet raised Tyler Technologies from a “c+” rating to a “b-” rating in a report on Friday, February 15th. DA Davidson cut Tyler Technologies from a “buy” rating to a “neutral” rating and set a $210.00 price target on the stock. in a report on Friday, February 22nd. ValuEngine cut Tyler Technologies from a “buy” rating to a “hold” rating in a report on Friday, February 22nd. Northland Securities reaffirmed a “buy” rating and set a $240.00 price target on shares of Tyler Technologies in a report on Friday, February 22nd. Finally, KeyCorp reaffirmed a “hold” rating on shares of Tyler Technologies in a report on Thursday, February 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Tyler Technologies has an average rating of “Hold” and an average target price of $239.70.
In other Tyler Technologies news, Director Dustin R. Womble sold 3,676 shares of Tyler Technologies stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $206.87, for a total value of $760,454.12. Following the transaction, the director now owns 181,798 shares in the company, valued at $37,608,552.26. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider John S. Marr, Jr. sold 30,000 shares of Tyler Technologies stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $200.84, for a total transaction of $6,025,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,676 shares of company stock worth $8,798,254. 4.40% of the stock is currently owned by company insiders.
Tyler Technologies 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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