Thoroughbred Financial Services LLC Boosts Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Thoroughbred Financial Services LLC grew its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 5.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,074 shares of the technology company’s stock after buying an additional 101 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Tyler Technologies were worth $1,195,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Tyler Technologies during the 4th quarter worth $528,465,000. Van ECK Associates Corp boosted its holdings in Tyler Technologies by 1,991.8% during the fourth quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock worth $317,486,000 after buying an additional 524,259 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Tyler Technologies during the fourth quarter worth about $159,947,000. JPMorgan Chase & Co. increased its holdings in Tyler Technologies by 148.2% in 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 in the last quarter. Finally, Seilern Investment Management Ltd acquired a new stake in shares of Tyler Technologies during the 4th quarter valued at approximately $105,549,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

Tyler Technologies Price Performance

Shares of NYSE:TYL opened at $539.40 on Friday. The business has a fifty day simple moving average of $598.37 and a 200-day simple moving average of $597.21. Tyler Technologies, Inc. has a 52 week low of $397.80 and a 52 week high of $661.31. The company has a market cap of $23.25 billion, a P/E ratio of 89.01, a P/E/G ratio of 4.93 and a beta of 0.84. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. Equities research analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Insider Activity

In other news, CEO H Lynn Moore, Jr. sold 6,514 shares of Tyler Technologies stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $617.59, for a total value of $4,022,981.26. Following the transaction, the chief executive officer now directly owns 75,734 shares of the company’s stock, valued at $46,772,561.06. The trade was a 7.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Brian K. Miller sold 1,550 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $613.58, for a total transaction of $951,049.00. Following the sale, the chief financial officer now directly owns 14,026 shares of the company’s stock, valued at approximately $8,606,073.08. This trade represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,064 shares of company stock valued at $8,688,030 in the last ninety days. Company insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Piper Sandler raised their price objective on Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Truist Financial reaffirmed a “buy” rating and set a $775.00 price target (up previously from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. Needham & Company LLC reissued a “buy” rating and issued a $700.00 price objective on shares of Tyler Technologies in a research note on Tuesday, January 21st. DA Davidson reiterated a “neutral” rating and issued a $575.00 price target on shares of Tyler Technologies in a research report on Thursday, January 30th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $615.00 target price (down previously from $670.00) on shares of Tyler Technologies in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $676.25.

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.