Prescott Group Capital Management L.L.C. Acquires New Position in Tyler Technologies, Inc. (NYSE:TYL)

Key Points

• Prescott Group Capital Management purchased 1,569 shares of Tyler Technologies, valued at approximately $912,000, as revealed in a 13F filing with the SEC.
• Insider John S. Marr, Jr. sold 4,000 shares worth over $2.2 million, reducing his ownership by 36.42%, while CFO Brian K. Miller sold 1,200 shares for $696,864, marking an 8.01% decrease in his stake.
• Research analysts have set price targets for Tyler Technologies, with Needham & Company maintaining a "buy" rating at a target price of $750.00, while other analysts adjusted their targets downwards, indicating an average price target of $680.50.

Prescott Group Capital Management L.L.C. bought a new stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,569 shares of the technology company's stock, valued at approximately $912,000.

Several other institutional investors also recently bought and sold shares of TYL. LPL Financial LLC boosted its stake in Tyler Technologies by 19.8% in the fourth quarter. LPL Financial LLC now owns 13,363 shares of the technology company's stock valued at $7,706,000 after acquiring an additional 2,204 shares in the last quarter. TD Asset Management Inc. boosted its stake in Tyler Technologies by 1.0% in the fourth quarter. TD Asset Management Inc. now owns 161,007 shares of the technology company's stock valued at $92,843,000 after acquiring an additional 1,592 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its stake in Tyler Technologies by 56.8% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,137 shares of the technology company's stock valued at $656,000 after acquiring an additional 412 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Tyler Technologies by 123.9% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 46,301 shares of the technology company's stock valued at $26,699,000 after acquiring an additional 25,625 shares in the last quarter. Finally, Korea Investment CORP lifted its stake in shares of Tyler Technologies by 46.9% during the fourth quarter. Korea Investment CORP now owns 25,245 shares of the technology company's stock worth $14,557,000 after buying an additional 8,055 shares during the period. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO H Lynn Moore, Jr. sold 5,250 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $585.18, for a total transaction of $3,072,195.00. Following the completion of the transaction, the chief executive officer owned 81,775 shares in the company, valued at $47,853,094.50. This represents a 6.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John S. Marr, Jr. sold 5,000 shares of the company's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $558.86, for a total transaction of $2,794,300.00. Following the transaction, the insider owned 6,983 shares of the company's stock, valued at approximately $3,902,519.38. This trade represents a 41.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,500 shares of company stock worth $15,177,230 over the last three months. Corporate insiders own 1.10% of the company's stock.

Tyler Technologies Trading Down 0.2%

TYL traded down $1.29 on Tuesday, reaching $555.17. The stock had a trading volume of 115,522 shares, compared to its average volume of 280,199. Tyler Technologies, Inc. has a 12-month low of $513.52 and a 12-month high of $661.31. The business's 50-day moving average price is $573.89 and its two-hundred day moving average price is $578.49. The company has a market cap of $23.94 billion, a P/E ratio of 83.60, a price-to-earnings-growth ratio of 4.35 and a beta of 0.84.

Analyst Ratings Changes

TYL has been the subject of several research reports. Piper Sandler lowered their price objective on shares of Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. DA Davidson decreased their target price on shares of Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. 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. Cantor Fitzgerald assumed coverage on shares of Tyler Technologies in a research report on Tuesday, June 3rd. They set a "neutral" rating and a $600.00 target price for the company. Finally, Robert W. Baird decreased their target price 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. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Tyler Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $685.09.

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.