Bridgefront Capital LLC Acquires Shares of 695 Tyler Technologies, Inc. (NYSE:TYL)

Bridgefront Capital LLC acquired a new position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 695 shares of the technology company's stock, valued at approximately $401,000.

Several other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Tyler Technologies during the fourth quarter valued at $528,465,000. Van ECK Associates Corp boosted its holdings in shares of 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 purchasing an additional 524,259 shares during the period. Raymond James Financial Inc. purchased a new position in Tyler Technologies during the fourth quarter valued at approximately $159,947,000. JPMorgan Chase & Co. increased its stake in Tyler Technologies by 148.2% in the 3rd 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. Finally, Seilern Investment Management Ltd purchased a new stake in Tyler Technologies in the 4th quarter worth approximately $105,549,000. 93.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TYL. Robert W. Baird cut their price objective on Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Needham & Company LLC reaffirmed a "buy" rating and set a $750.00 price target on shares of Tyler Technologies in a research note on Thursday, April 24th. The Goldman Sachs Group boosted their price target on Tyler Technologies from $660.00 to $728.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. Wells Fargo & Company dropped their price objective on Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Finally, Barclays decreased their target price on shares of Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $674.67.

Insider Activity at Tyler Technologies

In related news, Director Daniel M. Pope sold 365 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $550.00, for a total value of $200,750.00. Following the completion of the transaction, the director now directly owns 2,853 shares of the company's stock, valued at $1,569,150. This trade represents a 11.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian K. Miller sold 1,033 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $557.45, for a total transaction of $575,845.85. Following the completion of the sale, the chief financial officer now directly owns 13,028 shares in the company, valued at $7,262,458.60. This trade represents a 7.35% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,462 shares of company stock worth $9,464,626. Company insiders own 1.10% of the company's stock.

Tyler Technologies Stock Performance

TYL traded up $3.27 during trading on Monday, hitting $563.52. The stock had a trading volume of 109,845 shares, compared to its average volume of 258,056. The firm has a market cap of $24.30 billion, a PE ratio of 92.98, a P/E/G ratio of 4.93 and a beta of 0.88. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies, Inc. has a 12 month low of $458.50 and a 12 month high of $661.31. The company has a 50 day simple moving average of $563.43 and a 200-day simple moving average of $590.82.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.22. The business had revenue of $562.43 million during the quarter, compared to analysts' expectations of $556.45 million. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. The firm's revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.20 EPS. Analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

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.