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

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

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC grew its holdings in Tyler Technologies by 2.3% in the fourth quarter. Integrated Wealth Concepts LLC now owns 786 shares of the technology company's stock valued at $453,000 after purchasing an additional 18 shares during the period. AdvisorNet Financial Inc lifted its position in shares of Tyler Technologies by 7.0% during the 1st quarter. AdvisorNet Financial Inc now owns 291 shares of the technology company's stock valued at $169,000 after buying an additional 19 shares in the last quarter. Kensington Investment Counsel LLC grew its stake in Tyler Technologies by 0.8% in the 4th quarter. Kensington Investment Counsel LLC now owns 2,496 shares of the technology company's stock valued at $1,439,000 after acquiring an additional 20 shares during the period. Benjamin Edwards Inc. increased its holdings in Tyler Technologies by 1.5% in the 4th quarter. Benjamin Edwards Inc. now owns 1,526 shares of the technology company's stock worth $880,000 after acquiring an additional 22 shares in the last quarter. Finally, MV Capital Management Inc. raised its position in Tyler Technologies by 42.9% during the first quarter. MV Capital Management Inc. now owns 80 shares of the technology company's stock worth $47,000 after acquiring an additional 24 shares during the period. Hedge funds and other institutional investors own 93.30% of the company's stock.

Tyler Technologies Price Performance

Shares of TYL stock traded down $5.37 during trading on Wednesday, hitting $579.68. 427,643 shares of the stock traded hands, compared to its average volume of 265,158. The firm has a market capitalization of $25.00 billion, a P/E ratio of 87.30, a price-to-earnings-growth ratio of 4.57 and a beta of 0.84. Tyler Technologies, Inc. has a 52-week low of $503.54 and a 52-week high of $661.31. The firm's fifty day moving average price is $574.37 and its 200-day moving average price is $580.43.

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, beating analysts' consensus estimates of $2.56 by $0.22. The company had revenue of $562.43 million for the quarter, compared to the consensus estimate 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 for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.20 earnings per share. As a group, equities research analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Insider Transactions at Tyler Technologies

In related news, CFO Brian K. Miller sold 1,200 shares of the stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $580.72, for a total transaction of $696,864.00. Following the transaction, the chief financial officer owned 13,772 shares of the company's stock, valued at approximately $7,997,675.84. This represents a 8.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brenda A. Cline sold 2,500 shares of Tyler Technologies stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $577.41, for a total value of $1,443,525.00. Following the completion of the transaction, the director directly owned 2,519 shares of the company's stock, valued at approximately $1,454,495.79. This represents a 49.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,500 shares of company stock worth $15,177,230 in the last three months. Company insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TYL. Robert W. Baird cut 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 note on Friday, April 25th. Cantor Fitzgerald began coverage on Tyler Technologies in a research report on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 target price on the stock. Barclays dropped their price target on Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Needham & Company LLC restated a "buy" rating and issued a $750.00 price objective on shares of Tyler Technologies in a report on Tuesday, May 13th. Finally, Piper Sandler lowered their target price on shares of Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $680.50.

Tyler Technologies 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.