Quantinno Capital Management LP Increases Stake in Tyler Technologies, Inc. (NYSE:TYL)

Quantinno Capital Management LP grew its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 40.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,378 shares of the technology company’s stock after buying an additional 399 shares during the period. Quantinno Capital Management LP’s holdings in Tyler Technologies were worth $804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in shares of Tyler Technologies in the third quarter worth about $27,000. Independence Bank of Kentucky purchased a new position in Tyler Technologies during the second quarter worth approximately $25,000. Blue Trust Inc. grew its holdings in Tyler Technologies by 329.4% in the second quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock valued at $37,000 after purchasing an additional 56 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Tyler Technologies during the 2nd quarter worth approximately $61,000. Finally, Quarry LP purchased a new position in shares of Tyler Technologies during the 3rd quarter valued at approximately $78,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Tyler Technologies Stock Down 2.7 %

NYSE TYL opened at $611.12 on Friday. The business’s fifty day simple moving average is $608.72 and its 200-day simple moving average is $565.52. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18. The firm has a market cap of $26.16 billion, a PE ratio of 111.52, a P/E/G ratio of 5.66 and a beta of 0.76. Tyler Technologies, Inc. has a 52 week low of $397.80 and a 52 week high of $638.56.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.09. The company had revenue of $543.34 million for the quarter, compared to analyst estimates of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. Tyler Technologies’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.66 EPS. As a group, equities analysts anticipate that Tyler Technologies, Inc. will post 7.36 earnings per share for the current year.

Insider Buying and Selling

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,250 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $605.82, for a total value of $3,786,375.00. Following the transaction, the chief executive officer now owns 75,000 shares of the company’s stock, valued at $45,436,500. This represents a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Brian K. Miller sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $624.41, for a total transaction of $1,561,025.00. Following the completion of the sale, the chief financial officer now directly owns 11,950 shares in the company, valued at $7,461,699.50. This trade represents a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,500 shares of company stock worth $21,952,888. Company insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on TYL shares. Piper Sandler increased their price objective on shares of Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a report on Friday, October 25th. The Goldman Sachs Group reiterated a “buy” rating and issued a $627.00 price objective on shares of Tyler Technologies in a report on Friday, September 13th. StockNews.com cut Tyler Technologies from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Truist Financial reaffirmed a “buy” rating and issued a $685.00 price target (up from $600.00) on shares of Tyler Technologies in a research note on Friday, October 25th. Finally, Needham & Company LLC increased their price objective on Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Tyler Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $642.62.

About Tyler Technologies

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.