Axecap Investments LLC Boosts Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Axecap Investments LLC raised its stake in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 17.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,677 shares of the technology company's stock after purchasing an additional 852 shares during the period. Tyler Technologies accounts for 2.8% of Axecap Investments LLC's portfolio, making the stock its 10th largest position. Axecap Investments LLC's holdings in Tyler Technologies were worth $3,301,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of TYL. Choreo LLC lifted its position in shares of Tyler Technologies by 3.9% during the fourth quarter. Choreo LLC now owns 647 shares of the technology company's stock worth $374,000 after purchasing an additional 24 shares in the last quarter. Apollon Wealth Management LLC bought a new position in shares of Tyler Technologies in the 4th quarter worth about $221,000. Empowered Funds LLC lifted its position in Tyler Technologies by 54.6% in the 4th quarter. Empowered Funds LLC now owns 3,588 shares of the technology company's stock valued at $2,069,000 after purchasing an additional 1,267 shares during the last quarter. Portfolio Design Labs LLC bought a new stake in Tyler Technologies in the 4th quarter valued at about $315,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Tyler Technologies by 49.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 149,562 shares of the technology company's stock valued at $85,953,000 after purchasing an additional 49,508 shares during the last quarter. Institutional investors and hedge funds own 93.30% of the company's stock.

Wall Street Analysts Forecast Growth

TYL has been the topic of a number of recent analyst reports. Robert W. Baird dropped 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 report on Friday, April 25th. Needham & Company LLC reiterated a "buy" rating and set a $750.00 price objective on shares of Tyler Technologies in a research report on Tuesday, May 13th. DA Davidson reduced their price target 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. Truist Financial reissued a "buy" rating and set a $775.00 price objective (up previously from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Finally, Wells Fargo & Company reduced their target price on shares of Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $680.50.

Tyler Technologies Stock Performance

Shares of Tyler Technologies stock traded up $3.21 on Thursday, reaching $587.25. The stock had a trading volume of 186,724 shares, compared to its average volume of 263,615. Tyler Technologies, Inc. has a fifty-two week low of $458.50 and a fifty-two week high of $661.31. The business's 50-day moving average price is $563.00 and its two-hundred day moving average price is $585.29. The stock has a market cap of $25.32 billion, a P/E ratio of 96.91, a price-to-earnings-growth ratio of 4.93 and a beta of 0.84. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $556.45 million. During the same quarter in the previous year, the firm posted $2.20 earnings per share. Tyler Technologies's revenue was up 10.3% compared to the same quarter last year. On average, sell-side analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Insider Buying and Selling

In other Tyler Technologies news, Director Daniel M. Pope sold 365 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $550.00, for a total value of $200,750.00. Following the sale, the director now owns 2,853 shares of the company's stock, valued at $1,569,150. The trade was a 11.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO H Lynn Moore, Jr. sold 5,250 shares of the business's stock in a transaction 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 $47,853,094.50. This trade represents a 6.03% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,256 shares of company stock valued at $13,867,329. 1.10% of the stock is owned by company insiders.

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.