First Mercantile Trust Co Lowers stake in Tyler Technologies (TYL)

Tyler Technologies (TYL) : First Mercantile Trust Co reduced its stake in Tyler Technologies by 11.13% during the most recent quarter end. The investment management company now holds a total of 9,730 shares of Tyler Technologies which is valued at $1,651,473 after selling 1,218 shares in Tyler Technologies , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Tyler Technologies makes up approximately 0.22% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Simplex Trading added TYL to its portfolio by purchasing 2 company shares during the most recent quarter which is valued at $339.New England Research Management reduced its stake in TYL by selling 1,426 shares or 47.92% in the most recent quarter. The Hedge Fund company now holds 1,550 shares of TYL which is valued at $264,802. Tyler Technologies makes up approx 0.22% of New England Research Management’s portfolio.Eqis Capital Management reduced its stake in TYL by selling 390 shares or 6.14% in the most recent quarter. The Hedge Fund company now holds 5,961 shares of TYL which is valued at $1,018,377. Tyler Technologies makes up approx 0.06% of Eqis Capital Management’s portfolio. Washington Trust Bank sold out all of its stake in TYL during the most recent quarter. The investment firm sold 30 shares of TYL which is valued $5,125. West Oak Capital added TYL to its portfolio by purchasing 100 company shares during the most recent quarter which is valued at $17,084. Tyler Technologies makes up approx 0.01% of West Oak Capital’s portfolio.

Tyler Technologies closed down -1.42 points or -0.83% at $169.73 with 2,41,634 shares getting traded on Friday. Post opening the session at $170.85, the shares hit an intraday low of $169.072 and an intraday high of $171 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Tyler Technologies reported $0.87 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.83. The company had revenue of $188.97 million for the quarter, compared to analysts expectations of $190.63 million. The company’s revenue was up 29.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS.

Many Wall Street Analysts have commented on Tyler Technologies. Company shares were Reiterated by The Benchmark Company on Jul 29, 2016 to “Buy”, Firm has raised the Price Target to $ 190 from a previous price target of $160 .Company shares were Reiterated by Maxim Group on Jul 28, 2016 to “Buy”, Firm has raised the Price Target to $ 206 from a previous price target of $196 .Piper Jaffray Initiated Tyler Technologies on Jul 26, 2016 to “Overweight”, Price Target of the shares are set at $200.

Tyler Technologies Inc. (Tyler) is a provider of information management solutions and services for the public sector with a focus on local governments. The Company provides professional information technology (IT) services to its clients. The Company operates through two segments: The Enterprise Software Solutions segment which 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 planning regulatory and maintenance and land and vital records management and The Appraisal and Tax Software Solutions and Services segment which provides systems and software that automate the appraisal and assessment of real and personal property as well as property appraisal outsourcing services for local governments and taxing authorities.

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