D. E. Shaw & Co. Inc. Boosts Stock Holdings in Tyler Technologies, Inc. (NYSE:TYL)

D. E. Shaw & Co. Inc. increased its position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 59.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,555 shares of the technology company's stock after acquiring an additional 12,138 shares during the period. D. E. Shaw & Co. Inc. owned about 0.08% of Tyler Technologies worth $18,773,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Truist Financial reissued a "buy" rating and issued a $775.00 target price (up from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Robert W. Baird dropped their price objective on shares of Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Barclays reduced their target price on shares of Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Needham & Company LLC reiterated a "buy" rating and issued a $750.00 price target on shares of Tyler Technologies in a research report on Thursday, April 24th. Finally, The Goldman Sachs Group boosted their price objective on shares of Tyler Technologies from $660.00 to $728.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. 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.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $674.67.

Tyler Technologies Price Performance

NYSE:TYL opened at $565.31 on Tuesday. The business's 50-day simple moving average is $562.22 and its two-hundred day simple moving average is $590.53. Tyler Technologies, Inc. has a 52 week low of $458.50 and a 52 week high of $661.31. The stock has a market cap of $24.38 billion, a PE ratio of 93.29, a P/E/G ratio of 4.93 and a beta of 0.88. 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 - Get Free Report) last released its earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.22. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. The firm had revenue of $562.43 million during the quarter, compared to analysts' expectations of $556.45 million. During the same quarter last year, the business posted $2.20 earnings per share. The firm's revenue was up 10.3% on a year-over-year basis. As a group, analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO H Lynn Moore, Jr. sold 6,514 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the sale, the chief executive officer now directly owns 75,734 shares of the company's stock, valued at $46,772,561.06. This represents a 7.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel M. Pope sold 365 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were 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 $1,569,150. This represents a 11.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,462 shares of company stock worth $9,464,626. 1.10% of the stock is owned by insiders.

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.

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