Concentric Capital Strategies LP Takes $11.43 Million Position in Tyler Technologies, Inc. (NYSE:TYL)

Concentric Capital Strategies LP acquired a new stake in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 19,829 shares of the technology company's stock, valued at approximately $11,434,000.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Tyler Technologies by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 5,310,401 shares of the technology company's stock valued at $3,062,190,000 after acquiring an additional 62,420 shares during the last quarter. Geode Capital Management LLC grew its holdings in Tyler Technologies by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 1,136,734 shares of the technology company's stock valued at $654,406,000 after buying an additional 27,826 shares during the last quarter. Franklin Resources Inc. grew its holdings in Tyler Technologies by 7.9% in the 4th quarter. Franklin Resources Inc. now owns 984,615 shares of the technology company's stock valued at $567,768,000 after buying an additional 71,869 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Tyler Technologies by 3.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 939,373 shares of the technology company's stock valued at $541,680,000 after buying an additional 35,198 shares during the last quarter. Finally, Norges Bank acquired a new stake in Tyler Technologies in the 4th quarter valued at approximately $528,465,000. Institutional investors and hedge funds own 93.30% of the company's stock.

Tyler Technologies Price Performance

TYL stock traded up $4.17 during trading on Monday, hitting $564.42. The company had a trading volume of 122,134 shares, compared to its average volume of 258,119. The company has a fifty day moving average price of $563.43 and a two-hundred day moving average price of $590.82. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The company has a market cap of $24.34 billion, a P/E ratio of 92.94, a P/E/G ratio of 4.93 and a beta of 0.88. Tyler Technologies, Inc. has a fifty-two week low of $458.50 and a fifty-two week high of $661.31.

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

Insider Activity at Tyler Technologies

In other Tyler Technologies news, Director Daniel M. Pope sold 365 shares of the business'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 transaction, the director now owns 2,853 shares of the company's stock, valued at approximately $1,569,150. The trade was a 11.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brian K. Miller sold 1,550 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $613.58, for a total value of $951,049.00. Following the completion of the transaction, the chief financial officer now directly owns 14,026 shares in the company, valued at approximately $8,606,073.08. This represents a 9.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,462 shares of company stock valued at $9,464,626 in the last 90 days. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. StockNews.com raised Tyler Technologies from a "hold" rating to a "buy" rating in a report on Saturday. Needham & Company LLC reaffirmed a "buy" rating and issued a $750.00 target price on shares of Tyler Technologies in a report on Thursday, April 24th. Robert W. Baird lowered their target price on Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Barclays lowered their target price on Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Finally, Wells Fargo & Company decreased 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. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $674.67.

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.