Norris Perne & French LLP MI Buys New Position in Tyler Technologies, Inc. (NYSE:TYL)

Norris Perne & French LLP MI acquired a new stake in Tyler Technologies, Inc. (NYSE:TYL) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,481 shares of the technology company’s stock, valued at approximately $8,705,000.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Tyler Technologies by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 4,969,048 shares of the technology company’s stock valued at $2,077,658,000 after purchasing an additional 55,629 shares during the period. Norges Bank acquired a new position in shares of Tyler Technologies in the fourth quarter valued at about $459,691,000. Franklin Resources Inc. increased its holdings in shares of Tyler Technologies by 6.7% in the fourth quarter. Franklin Resources Inc. now owns 1,040,341 shares of the technology company’s stock valued at $434,987,000 after purchasing an additional 64,889 shares during the period. Morgan Stanley increased its holdings in shares of Tyler Technologies by 21.1% in the third quarter. Morgan Stanley now owns 1,015,713 shares of the technology company’s stock valued at $392,208,000 after purchasing an additional 177,242 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Tyler Technologies by 5.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 872,960 shares of the technology company’s stock valued at $365,002,000 after purchasing an additional 49,008 shares during the period. 93.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Daniel M. Pope sold 520 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $491.18, for a total value of $255,413.60. Following the transaction, the director now owns 3,493 shares in the company, valued at $1,715,691.74. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Daniel M. Pope sold 520 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $491.18, for a total value of $255,413.60. Following the completion of the sale, the director now owns 3,493 shares of the company’s stock, valued at $1,715,691.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Brian K. Miller sold 800 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $479.28, for a total value of $383,424.00. Following the completion of the sale, the chief financial officer now directly owns 12,736 shares of the company’s stock, valued at approximately $6,104,110.08. The disclosure for this sale can be found here. Insiders have sold a total of 26,241 shares of company stock worth $12,495,890 over the last quarter. 2.20% of the stock is currently owned by corporate insiders.

Tyler Technologies Price Performance

Shares of NYSE TYL traded up $8.97 during midday trading on Friday, hitting $502.78. The stock had a trading volume of 665,137 shares, compared to its average volume of 251,870. The company has a market capitalization of $21.35 billion, a PE ratio of 113.75, a P/E/G ratio of 4.64 and a beta of 0.74. The stock has a 50 day simple moving average of $476.60 and a 200-day simple moving average of $441.36. Tyler Technologies, Inc. has a 1 year low of $361.16 and a 1 year high of $506.07. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.20.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, April 24th. The technology company reported $1.74 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.26. The business had revenue of $512.36 million for the quarter, compared to the consensus estimate of $507.79 million. Tyler Technologies had a return on equity of 9.35% and a net margin of 9.50%. On average, sell-side analysts expect that Tyler Technologies, Inc. will post 7.1 EPS for the current fiscal year.

Analyst Ratings Changes

TYL has been the topic of a number of recent research reports. Truist Financial restated a “buy” rating and issued a $560.00 target price (up previously from $510.00) on shares of Tyler Technologies in a research note on Thursday, May 23rd. Robert W. Baird upped their target price on Tyler Technologies from $500.00 to $525.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Oppenheimer upped their target price on Tyler Technologies from $500.00 to $550.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 22nd. Piper Sandler restated an “overweight” rating and issued a $520.00 target price on shares of Tyler Technologies in a research note on Wednesday, April 24th. Finally, Needham & Company LLC upped their target price on Tyler Technologies from $500.00 to $600.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $519.09.

Tyler Technologies Company Profile

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. It operates in two segments, Enterprise Software and Platform Technologies. The company offers platform and transformative technology solutions, including cybersecurity for government agencies; data and insights solutions; digital solutions that helps workers and policymakers to share, communicate, and leverage data; payments solutions, such as billing, presentment, merchant onboarding, collections, reconciliation, and disbursements; platform technologies, an application development platform that enables government workers to build solutions and applications; and outdoor recreation solutions, including campsite reservations, activity registrations, licensing sales and renewals, and real-time data for conservation and park management.