Gibraltar Capital Management Inc. Invests $2.24 Million in Tyler Technologies, Inc. (NYSE:TYL)

Gibraltar Capital Management Inc. acquired a new stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,850 shares of the technology company's stock, valued at approximately $2,238,000.

Several other large investors also recently modified their holdings of TYL. Norges Bank bought a new position in Tyler Technologies during the fourth quarter worth about $528,465,000. GAMMA Investing LLC raised its stake in Tyler Technologies by 57,694.7% in the 1st quarter. GAMMA Investing LLC now owns 878,480 shares of the technology company's stock worth $510,739,000 after purchasing an additional 876,960 shares in the last quarter. Wealthfront Advisers LLC raised its stake in Tyler Technologies by 8,973.6% in the 4th quarter. Wealthfront Advisers LLC now owns 154,433 shares of the technology company's stock worth $89,052,000 after purchasing an additional 152,731 shares in the last quarter. Marshall Wace LLP raised its stake in Tyler Technologies by 897.6% in the 4th quarter. Marshall Wace LLP now owns 112,210 shares of the technology company's stock worth $64,705,000 after purchasing an additional 100,962 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Tyler Technologies by 52.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 283,449 shares of the technology company's stock worth $163,448,000 after purchasing an additional 97,718 shares in the last quarter. 93.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on TYL shares. Needham & Company LLC reiterated a "buy" rating and issued a $750.00 price objective on shares of Tyler Technologies in a research note on Tuesday, May 13th. Robert W. Baird dropped their price objective on shares of Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating for the company in a research note 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. Wall Street Zen lowered shares of Tyler Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Finally, Cantor Fitzgerald initiated coverage on shares of Tyler Technologies in a report on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Tyler Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $680.50.

Insider Buying and Selling at Tyler Technologies

In related news, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of Tyler Technologies stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $573.60, for a total transaction of $215,100.00. Following the sale, the insider directly owned 247 shares in the company, valued at $141,679.20. This trade represents a 60.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO H Lynn Moore, Jr. sold 5,250 shares of Tyler Technologies stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $585.18, for a total transaction of $3,072,195.00. Following the sale, the chief executive officer owned 81,775 shares in the company, valued at approximately $47,853,094.50. This represents a 6.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,500 shares of company stock worth $15,177,230 over the last quarter. Insiders own 1.10% of the company's stock.

Tyler Technologies Stock Performance

Shares of Tyler Technologies stock traded down $4.39 during midday trading on Wednesday, hitting $580.66. 83,325 shares of the company traded hands, compared to its average volume of 263,392. The stock has a market cap of $25.04 billion, a price-to-earnings ratio of 87.53, a PEG ratio of 4.60 and a beta of 0.84. The firm's fifty day moving average price is $573.64 and its 200-day moving average price is $580.43. Tyler Technologies, Inc. has a 12 month low of $503.54 and a 12 month high of $661.31.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.22. Tyler Technologies had a net margin of 13.23% and a return on equity of 10.29%. The company had revenue of $562.43 million for the quarter, compared to analyst estimates of $556.45 million. During the same period in the previous year, the firm posted $2.20 EPS. The firm's revenue was up 10.3% on a year-over-year basis. Equities research analysts forecast that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

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.