Abacus Wealth Partners LLC Invests $338,000 in Tyler Technologies, Inc. (NYSE:TYL)

Key Points

• Abacus Wealth Partners LLC has invested approximately $338,000 in Tyler Technologies, purchasing 582 shares, as reported in its recent 13F filing.
• Several institutional investors, including HighPoint Advisor Group and Cambridge Investment Research Advisors, have increased their holdings in Tyler Technologies during the first quarter.
• Analysts have recently lowered their price targets for Tyler Technologies, with Barclays now setting it at $695.00 while maintaining an "overweight" rating.

Abacus Wealth Partners LLC 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 Form 13F filing with the SEC. The fund purchased 582 shares of the technology company's stock, valued at approximately $338,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Retirement Wealth Solutions LLC acquired a new position in Tyler Technologies in the first quarter valued at about $26,000. Mowery & Schoenfeld Wealth Management LLC lifted its position in Tyler Technologies by 820.0% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company's stock valued at $27,000 after buying an additional 41 shares during the last quarter. Brown Brothers Harriman & Co. lifted its position in Tyler Technologies by 300.0% in the fourth 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 last quarter. Cornerstone Planning Group LLC lifted its position in Tyler Technologies by 221.1% in the first quarter. Cornerstone Planning Group LLC now owns 61 shares of the technology company's stock valued at $35,000 after buying an additional 42 shares during the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in Tyler Technologies in the fourth quarter valued at about $40,000. Institutional investors and hedge funds own 93.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. 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 research report on Friday, April 25th. Barclays boosted their price target on shares of Tyler Technologies from $695.00 to $715.00 and gave the stock an "overweight" rating in a research note on Thursday. Wall Street Zen lowered shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Needham & Company LLC reiterated a "buy" rating and set a $750.00 price target on shares of Tyler Technologies in a research note on Tuesday, May 13th. Finally, Robert W. Baird cut their price target on shares of Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $686.91.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, Director Brenda A. Cline sold 2,500 shares of the stock in a transaction that occurred on 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 transaction, the director directly owned 2,519 shares in the company, valued at $1,454,495.79. This represents a 49.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO H Lynn Moore, Jr. sold 5,250 shares of the 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,135 shares of company stock valued at $14,976,480. Company insiders own 1.10% of the company's stock.

Tyler Technologies Trading Down 0.1%

NYSE:TYL traded down $0.67 during mid-day trading on Friday, hitting $583.89. The stock had a trading volume of 594,905 shares, compared to its average volume of 342,914. The stock has a 50-day simple moving average of $573.84 and a two-hundred day simple moving average of $578.39. The company has a market capitalization of $25.18 billion, a PE ratio of 83.41, a PEG ratio of 4.56 and a beta of 0.84. Tyler Technologies, Inc. has a twelve month low of $513.52 and a twelve month high of $661.31.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its earnings results on Wednesday, July 30th. The technology company reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.78 by $0.13. The firm had revenue of $584.01 million for the quarter, compared to analysts' expectations of $587.59 million. Tyler Technologies had a net margin of 13.66% and a return on equity of 10.34%. The firm's revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.40 earnings per share. Sell-side analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

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.