Strategic Investment Advisors MI Makes New Investment in Tyler Technologies, Inc. (NYSE:TYL)

Strategic Investment Advisors MI bought a new position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,215 shares of the technology company's stock, valued at approximately $1,288,000.

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

Tyler Technologies Stock Down 1.1%

TYL traded down $6.68 during trading on Wednesday, reaching $581.95. The stock had a trading volume of 297,347 shares, compared to its average volume of 262,519. The stock has a 50 day moving average of $566.55 and a two-hundred day moving average of $582.16. The firm has a market capitalization of $25.10 billion, a price-to-earnings ratio of 87.64, a price-to-earnings-growth ratio of 4.53 and a beta of 0.85. Tyler Technologies, Inc. has a 1-year low of $484.05 and a 1-year high of $661.31.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 earnings per share 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 analyst estimates of $556.45 million. Tyler Technologies had a return on equity of 10.29% and a net margin of 13.23%. The company's revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.20 earnings per share. On average, research analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Insider Transactions at Tyler Technologies

In related news, CEO H Lynn Moore, Jr. sold 5,250 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 81,775 shares in the company, valued at approximately $47,853,094.50. This trade represents a 6.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $573.60, for a total value of $215,100.00. Following the completion of the transaction, the insider now directly owns 247 shares in the company, valued at $141,679.20. This represents a 60.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,500 shares of company stock valued at $15,177,230 in the last quarter. Insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

TYL has been the subject of several analyst reports. Wall Street Zen downgraded shares of Tyler Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Barclays cut their price objective on shares of Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating on the stock in a research 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 for the company in a research report on Friday, April 25th. Robert W. Baird cut their price target on Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Finally, Cantor Fitzgerald initiated coverage on Tyler Technologies in a research report on Tuesday, June 3rd. They set a "neutral" rating and a $600.00 price objective for the company. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $680.50.

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.