Park Place Capital Corp Trims Stock Position in Tyler Technologies, Inc. (NYSE:TYL)

Park Place Capital Corp decreased its stake in Tyler Technologies, Inc. (NYSE:TYL) by 10.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 347 shares of the technology company’s stock after selling 41 shares during the quarter. Park Place Capital Corp’s holdings in Tyler Technologies were worth $200,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. APG Asset Management N.V. lifted its holdings in Tyler Technologies by 1.4% in the second quarter. APG Asset Management N.V. now owns 1,507,062 shares of the technology company’s stock valued at $706,994,000 after acquiring an additional 20,842 shares during the period. Geode Capital Management LLC lifted its stake in shares of Tyler Technologies by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,108,908 shares of the technology company’s stock valued at $645,585,000 after purchasing an additional 24,284 shares during the period. Franklin Resources Inc. lifted its stake in shares of Tyler Technologies by 2.0% in the 3rd quarter. Franklin Resources Inc. now owns 912,746 shares of the technology company’s stock valued at $547,354,000 after purchasing an additional 17,943 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Tyler Technologies by 4.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 904,175 shares of the technology company’s stock worth $527,785,000 after buying an additional 36,066 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Tyler Technologies by 148.2% during the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock valued at $269,369,000 after buying an additional 275,511 shares during the period. 93.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TYL has been the subject of a number of analyst reports. Piper Sandler upped their price objective on shares of Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. DA Davidson increased their price target on Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Truist Financial reissued a “buy” rating and issued a $685.00 price objective (up from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. JMP Securities upped their target price on Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a research note on Friday, October 25th. Finally, StockNews.com cut shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Tyler Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $643.77.

Tyler Technologies Stock Performance

TYL opened at $586.43 on Thursday. The firm has a market capitalization of $25.10 billion, a PE ratio of 107.01, a PEG ratio of 4.54 and a beta of 0.78. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies, Inc. has a twelve month low of $397.80 and a twelve month high of $638.56. The firm’s 50-day moving average price is $598.42 and its 200 day moving average price is $585.06.

Tyler Technologies (NYSE:TYL) last issued its 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. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The business had revenue of $543.34 million for the quarter, compared to analysts’ expectations of $547.34 million. During the same period in the previous year, the firm posted $1.66 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, sell-side analysts expect that Tyler Technologies, Inc. will post 7.36 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO H Lynn Moore, Jr. sold 6,250 shares of Tyler Technologies stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $605.82, for a total transaction of $3,786,375.00. Following the transaction, the chief executive officer now owns 75,000 shares in the company, valued at $45,436,500. The trade was a 7.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John S. Marr, Jr. sold 6,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $633.55, for a total transaction of $3,801,300.00. Following the transaction, the insider now directly owns 6,983 shares in the company, valued at approximately $4,424,079.65. The trade was a 46.21 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,252 shares of company stock worth $26,096,928. 2.20% of the stock is owned by corporate insiders.

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.