Timpani Capital Management buys $5.6 Million stake in Tyler Technologies (TYL)

Tyler Technologies (TYL) : Timpani Capital Management scooped up 2,815 additional shares in Tyler Technologies during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 37,172 shares of Tyler Technologies which is valued at $5.6 Million.Tyler Technologies makes up approximately 2.39% of Timpani Capital Management’s portfolio.

Other Hedge Funds, Including , Marco Investment Management sold out all of its stake in TYL during the most recent quarter. The investment firm sold 1,255 shares of TYL which is valued $187,409.Waratah Capital Advisors Ltd. reduced its stake in TYL by selling 66,106 shares or 52.58% in the most recent quarter. The Hedge Fund company now holds 59,630 shares of TYL which is valued at $8.5 Million. Tyler Technologies makes up approx 1.66% of Waratah Capital Advisors Ltd.’s portfolio.

Tyler Technologies closed down -2.4 points or -1.58% at $149.67 with 2,98,830 shares getting traded on Wednesday. Post opening the session at $152.63, the shares hit an intraday low of $149.06 and an intraday high of $152.63 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Tyler Technologies reported $0.81 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.77. The company had revenue of $179.29 million for the quarter, compared to analysts expectations of $177.88 million. The company’s revenue was up 32.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 EPS.

Many Wall Street Analysts have commented on Tyler Technologies. Shares were Reiterated by Maxim Group on Apr 28, 2016 to “Buy” and Lowered the Price Target to $ 196 from a previous price target of $201 .Tyler Technologies was Initiated by Avondale to “Mkt Perform” on Apr 15, 2016. Shares were Reiterated by Needham on Feb 19, 2016 to “Buy” and Lowered the Price Target to $ 160 from a previous price target of $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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