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

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

Several other institutional investors also recently modified their holdings of TYL. Larson Financial Group LLC lifted its stake in Tyler Technologies by 221.4% during the 4th quarter. Larson Financial Group LLC now owns 45 shares of the technology company's stock valued at $26,000 after acquiring an additional 31 shares during the period. Sierra Ocean LLC bought a new position in Tyler Technologies during the fourth quarter valued at approximately $32,000. Brown Brothers Harriman & Co. boosted its holdings in Tyler Technologies by 300.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company's stock worth $32,000 after purchasing an additional 42 shares during the last quarter. Kapitalo Investimentos Ltda bought a new stake in Tyler Technologies in the 4th quarter worth approximately $40,000. Finally, OFI Invest Asset Management purchased a new stake in Tyler Technologies during the 4th quarter valued at $41,000. 93.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Tyler Technologies news, CFO Brian K. Miller sold 1,033 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $557.45, for a total transaction of $575,845.85. Following the sale, the chief financial officer now directly owns 13,028 shares in the company, valued at $7,262,458.60. This represents a 7.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $619.00, for a total value of $3,714,000.00. Following the completion of the transaction, the insider now owns 6,983 shares of the company's stock, valued at approximately $4,322,477. This trade represents a 46.21 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,462 shares of company stock worth $9,464,626. 1.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Needham & Company LLC restated a "buy" rating and issued a $750.00 price target on shares of Tyler Technologies in a research note on Thursday, April 24th. Barclays dropped their target price on Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Robert W. Baird reduced their price target on shares of Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Wells Fargo & Company dropped their price objective on shares of 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, DA Davidson reduced their target price on shares of Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating for the company in a 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 company. According to MarketBeat, Tyler Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $674.67.

Tyler Technologies Price Performance

Shares of TYL stock traded down $2.75 during mid-day trading on Friday, hitting $560.06. The company had a trading volume of 191,735 shares, compared to its average volume of 258,387. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21. The stock's 50 day moving average price is $563.43 and its 200-day moving average price is $590.90. Tyler Technologies, Inc. has a 52-week low of $458.50 and a 52-week high of $661.31. The company has a market capitalization of $24.15 billion, a P/E ratio of 92.42, a P/E/G ratio of 4.93 and a beta of 0.88.

Tyler Technologies (NYSE:TYL - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $556.45 million. Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. The business's revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.20 EPS. Equities research analysts forecast that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Tyler Technologies 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.