According to Zacks, “GTY Technology Holdings Inc. is a SaaS company which offers a cloud-based suite of solutions primarily for North American state and local governments. GTY Technology Holdings Inc., formerly known as GTY Govtech Inc., is based in Las Vegas, Nevada. “
Other equities research analysts have also recently issued reports about the company. DA Davidson cut GTY Technology from a “buy” rating to a “neutral” rating in a research report on Friday, April 29th. Needham & Company LLC dropped their target price on GTY Technology from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, February 18th. Finally, Craig Hallum cut GTY Technology from a “buy” rating to a “hold” rating in a research report on Monday, May 9th.
GTY Technology (NASDAQ:GTYH – Get Rating) last released its quarterly earnings data on Monday, May 9th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. GTY Technology had a negative return on equity of 9.61% and a negative net margin of 64.12%. During the same quarter last year, the company posted ($0.32) earnings per share. As a group, research analysts expect that GTY Technology will post -0.24 EPS for the current year.
In related news, CEO Tj Parass bought 6,400 shares of the stock in a transaction dated Wednesday, February 23rd. The shares were acquired at an average cost of $4.49 per share, for a total transaction of $28,736.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 33.20% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Portolan Capital Management LLC raised its position in shares of GTY Technology by 37.8% during the 1st quarter. Portolan Capital Management LLC now owns 1,397,039 shares of the company’s stock valued at $4,512,000 after buying an additional 383,036 shares during the period. Samjo Capital LLC raised its position in GTY Technology by 34.8% in the first quarter. Samjo Capital LLC now owns 1,645,000 shares of the company’s stock valued at $5,313,000 after purchasing an additional 425,000 shares during the period. State Street Corp raised its position in GTY Technology by 1.0% in the first quarter. State Street Corp now owns 675,738 shares of the company’s stock valued at $2,183,000 after purchasing an additional 6,451 shares during the period. Renaissance Technologies LLC raised its position in GTY Technology by 298.7% in the first quarter. Renaissance Technologies LLC now owns 155,500 shares of the company’s stock valued at $502,000 after purchasing an additional 116,500 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in GTY Technology by 24.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 105,602 shares of the company’s stock valued at $342,000 after purchasing an additional 20,732 shares during the period. 44.54% of the stock is currently owned by hedge funds and other institutional investors.
About GTY Technology (Get Rating)
GTY Technology Holdings Inc operates as a software-as-a-service (SaaS) company that offers a cloud-based suite of solutions for the public sector in North America. The company develops software technologies for the procurement and vendor or supplier sourcing industry in government, public sector, and various highly-regulated commercial vertical markets; and content, digital, and integrated payment services via a SaaS platform for government agencies and utility companies.
- Get a free copy of the StockNews.com research report on GTY Technology (GTYH)
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