Parr Mcknight Wealth Management Group LLC Invests $1.20 Million in Tyler Technologies, Inc. (NYSE:TYL)

Parr Mcknight Wealth Management Group LLC purchased a new position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,084 shares of the technology company's stock, valued at approximately $1,202,000.

A number of other hedge funds have also bought and sold shares of TYL. Larson Financial Group LLC increased its holdings in Tyler Technologies by 221.4% in the 4th quarter. Larson Financial Group LLC now owns 45 shares of the technology company's stock valued at $26,000 after buying an additional 31 shares during the period. Sierra Ocean LLC bought a new position in Tyler Technologies in the 4th quarter valued at about $32,000. Brown Brothers Harriman & Co. increased its holdings in Tyler Technologies by 300.0% in 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 position in Tyler Technologies in the 4th quarter valued at about $40,000. Finally, OFI Invest Asset Management bought a new position in Tyler Technologies in the 4th quarter valued at about $41,000. 93.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TYL has been the topic of several recent analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $750.00 target price on shares of Tyler Technologies in a report on Tuesday, May 13th. Barclays decreased their target price on shares of Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Piper Sandler decreased their target price on shares of Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating on the stock in a report 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 on the stock in a report on Friday, April 25th. Finally, Wall Street Zen lowered shares of Tyler Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $687.82.

Insider Buying and Selling

In related news, Director Daniel M. Pope sold 365 shares of Tyler Technologies stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $550.00, for a total transaction of $200,750.00. Following the sale, the director now directly owns 2,853 shares in the company, valued at $1,569,150. This trade represents a 11.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John S. Marr, Jr. sold 4,000 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $568.66, for a total transaction of $2,274,640.00. Following the completion of the transaction, the insider now owns 6,983 shares in the company, valued at $3,970,952.78. This trade represents a 36.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,962 shares of company stock worth $15,977,091 in the last ninety days. Company insiders own 1.10% of the company's stock.

Tyler Technologies Price Performance

Shares of TYL traded up $10.74 during mid-day trading on Tuesday, reaching $576.76. The company had a trading volume of 206,313 shares, compared to its average volume of 261,371. The company's 50 day simple moving average is $561.29 and its 200 day simple moving average is $587.80. Tyler Technologies, Inc. has a 1-year low of $458.50 and a 1-year high of $661.31. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. The company has a market capitalization of $24.87 billion, a price-to-earnings ratio of 95.18, a P/E/G ratio of 4.93 and a beta of 0.88.

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

About Tyler Technologies

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.