Axecap Investments LLC Has $2.78 Million Position in Tyler Technologies, Inc. (NYSE:TYL)

Axecap Investments LLC grew its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 45.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,825 shares of the technology company’s stock after purchasing an additional 1,497 shares during the period. Tyler Technologies accounts for approximately 2.1% of Axecap Investments LLC’s holdings, making the stock its 22nd biggest position. Axecap Investments LLC’s holdings in Tyler Technologies were worth $2,782,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Empowered Funds LLC raised its position in shares of Tyler Technologies by 54.6% during the fourth quarter. Empowered Funds LLC now owns 3,588 shares of the technology company’s stock valued at $2,069,000 after buying an additional 1,267 shares during the last quarter. Apollon Wealth Management LLC acquired a new position in shares of Tyler Technologies during the fourth quarter valued at about $221,000. EULAV Asset Management raised its position in Tyler Technologies by 7.3% in the fourth quarter. EULAV Asset Management now owns 245,684 shares of the technology company’s stock worth $141,671,000 after purchasing an additional 16,700 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Tyler Technologies in the fourth quarter worth about $159,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Tyler Technologies by 19.3% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,231 shares of the technology company’s stock worth $3,016,000 after purchasing an additional 847 shares in the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

Insider Activity

In other news, CEO H Lynn Moore, Jr. sold 3,250 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $631.41, for a total transaction of $2,052,082.50. Following the sale, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at $47,355,750. This represents a 4.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John S. Marr, Jr. sold 12,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the sale, the insider now directly owns 6,983 shares in the company, valued at $4,285,187.78. This trade represents a 63.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock valued at $18,941,368 over the last three months. 2.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TYL. Oppenheimer increased their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Barclays increased their price target on shares of Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Truist Financial reissued a “buy” rating and issued a $685.00 price target (up previously from $600.00) on shares of Tyler Technologies in a research report on Friday, October 25th. JMP Securities increased 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 report on Friday, October 25th. Finally, StockNews.com lowered shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $645.69.

Tyler Technologies Price Performance

TYL opened at $612.18 on Tuesday. Tyler Technologies, Inc. has a one year low of $397.80 and a one year high of $638.56. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. The company’s 50 day simple moving average is $596.22 and its 200-day simple moving average is $593.06. The stock has a market capitalization of $26.20 billion, a P/E ratio of 111.71, a price-to-earnings-growth ratio of 4.78 and a beta of 0.78.

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.