Covestor Ltd increased its holdings in Tyler Technologies, Inc. (NYSE:TYL – free report) by 153.6% in the first quarter, according to the latest 13F filing with the Securities and Exchange Commission. The fund acquired an additional 43 shares during the quarter, bringing its holdings to 71 shares of the technology company. Covestor Ltd’s holdings of Tyler Technologies were worth $30,000 at the end of the latest reporting period.
Other institutional investors also recently modified their holdings of the company’s stock. International Assets Investment Management LLC increased its holdings in Tyler Technologies by 41,712.0% in the fourth quarter. International Assets Investment Management LLC now holds 52,265 shares of the technology company’s stock valued at $21,853,000 after acquiring an additional 52,140 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in Tyler Technologies by 119.2% in the first quarter. Commonwealth Equity Services LLC now holds 6,517 shares of the technology company’s stock valued at $2,770,000 after acquiring an additional 3,544 shares in the last quarter. Rafferty Asset Management LLC increased its holdings in Tyler Technologies by 26.8% in the fourth quarter. Rafferty Asset Management LLC now owns 13,972 shares of the technology company’s stock valued at $5,842,000 after purchasing an additional 2,951 shares in the last quarter. APG Asset Management US Inc. purchased a new stake in Tyler Technologies in the fourth quarter valued at approximately $57,493,000. Finally, Florida Retirement System Trustees increased their holdings in Tyler Technologies by 7.3% in the first quarter. Florida Retirement System Trustees now owns 46,724 shares of the technology company’s stock valued at $19,858,000 after purchasing an additional 3,198 shares in the last quarter. Institutional investors own 93.30% of the company’s stock.
Tyler Technologies shares rose 4.7%
Tyler Technologies’ shares opened trading at $590.65 on Friday. The company’s 50-day moving average price is $497.34 and its 200-day moving average price is $455.55. The company’s quick ratio is 0.94, current ratio is 1.06 and debt-to-equity ratio is 0.19. Tyler Technologies’ 52-week low is $361.16 and 52-week high is $593.50. The company has a market cap of $25.08 billion, a P/E ratio of 133.63, a PEG ratio of 5.30 and a beta of 0.76.
Tyler Technologies (NYSE:TYL – Get free report ) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported quarterly earnings per share (EPS) of $2.40, beating analysts’ consensus estimates of $2.34 by $0.06. Tyler Technologies had net margins of 10.24% and return on equity of 9.66%. The company’s quarterly revenue was $540.98 million, beating the consensus estimate of $541.01 million. During the same period last year, the company earned earnings per share of $1.53. The company’s quarterly revenue grew 7.3% year over year. On average, sell-side analysts expect Tyler Technologies to post EPS of 7.1 for the current fiscal year.
Insider Trading at Tyler Technologies
In related news, CEO H. Lynn Moore Jr. sold 5,250 shares of Tyler Technologies stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $481.83, for a total value of $2,529,607.50. Following the completion of the sale, the CEO now directly owns 75,000 shares of the company’s stock, valued at approximately $36,137,250. The transaction was disclosed in a document filed with the Securities and Exchange Commission, which can be accessed on the SEC’s website. In related news, CEO H. Lynn Moore Jr. sold 5,250 shares of Tyler Technologies stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $481.83, for a total value of $2,529,607.50.Following the completion of the sale, the CEO now directly owns 75,000 shares of the company’s stock, valued at approximately $36,137,250. The transaction was disclosed in a document filed with the Securities and Exchange Commission, which can be accessed on the SEC’s website. Additionally, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction that took place on Tuesday, May 14th. The shares were sold at an average price of $483.21, for a total transaction value of $2,899,260.00. Following the completion of the sale, the insider now owns 6,983 shares of the company’s stock, valued at $3,374,255.43. The disclosure for this sale can be found here. Insiders have sold 26,241 shares of the company’s stock in the last 90 days, valued at $12,495,890. Insiders own 2.20% of the company’s shares.
Analyst upgrades and downgrades
A number of equity research analysts have recently issued their opinions on TYL shares. The Goldman Sachs Group raised their price target on Tyler Technologies from $515.00 to $627.00 and gave the company a “buy” rating in a report on Friday. Wells Fargo & Company raised their price target on Tyler Technologies from $580.00 to $600.00 and gave the company an “overweight” rating in a report on Friday. Robert W. Baird raised their price target on Tyler Technologies from $500.00 to $525.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Oppenheimer raised their price target on Tyler Technologies from $550.00 to $625.00 and gave the company an “outperform” rating in a report on Friday. Finally, JMP Securities increased their target price on shares of Tyler Technologies from $490.00 to $580.00 and gave the company an “outperform market” rating in a research report on Monday, July 22. Three research analysts have rated the stock with a hold rating, and eleven have given a buy rating to the company. According to MarketBeat data, Tyler Technologies has a consensus rating of “moderate buy” and an average target price of $582.31.
Get the latest report on TYL
About Tyler Technologies
(Free report)
Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. The company operates through two segments: Enterprise Software and Platform Technology. The company offers platform and transformational technology solutions such as cybersecurity for government agencies, data and insights solutions, digital solutions that help employees and policymakers share, communicate and leverage data, payments solutions such as billing, presentment, merchant onboarding, collections, reconciliation and payments, platform technology, an application development platform that enables government employees to build solutions and applications, and outdoor recreation solutions such as campground reservations, activity registration, license sales and renewals, and real-time data for conservation and park management.
References
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