Mizuho Securities USA LLC Grows Stake in Tyler Technologies, Inc. (NYSE:TYL)

Mizuho Securities USA LLC boosted its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 466.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,534 shares of the technology company’s stock after purchasing an additional 15,262 shares during the quarter. Mizuho Securities USA LLC’s holdings in Tyler Technologies were worth $10,819,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Independence Bank of Kentucky purchased a new position in shares of Tyler Technologies during the second quarter valued at about $25,000. Ashton Thomas Securities LLC bought a new position in Tyler Technologies during the third quarter valued at approximately $27,000. Covestor Ltd increased its stake in Tyler Technologies by 153.6% in the 1st quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after acquiring an additional 43 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Tyler Technologies by 329.4% during the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after acquiring an additional 56 shares in the last quarter. Finally, Lynx Investment Advisory bought a new position in shares of Tyler Technologies during the 2nd quarter valued at approximately $38,000. 93.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 2,500 shares of Tyler Technologies stock in a transaction on Friday, November 8th. The shares were sold at an average price of $624.41, for a total value of $1,561,025.00. Following the completion of the transaction, the chief financial officer now owns 11,950 shares of the company’s stock, valued at approximately $7,461,699.50. The trade was a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Glenn A. Carter sold 3,350 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $582.57, for a total transaction of $1,951,609.50. Following the sale, the director now directly owns 2,654 shares in the company, valued at approximately $1,546,140.78. The trade was a 55.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,600 shares of company stock worth $19,307,295 in the last three months. Company insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Piper Sandler boosted their target price on shares of Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. DA Davidson boosted their target price on Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Robert W. Baird lifted their price objective on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Needham & Company LLC increased their target price on shares of Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, JMP Securities lifted their price target on shares of Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a research note on Friday, October 25th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $642.62.

Tyler Technologies Stock Down 2.8 %

Shares of TYL stock opened at $597.10 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21. Tyler Technologies, Inc. has a fifty-two week low of $397.80 and a fifty-two week high of $631.43. The firm has a market capitalization of $25.56 billion, a PE ratio of 108.96, a P/E/G ratio of 5.39 and a beta of 0.77. The stock’s 50-day simple moving average is $593.78 and its 200-day simple moving average is $547.05.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.09. The company had revenue of $543.34 million for the quarter, compared to the consensus estimate of $547.34 million. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the firm earned $1.66 EPS. Equities analysts expect that Tyler Technologies, Inc. will post 7.39 earnings per share for the current year.

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.