Azzad Asset Management Inc. ADV Takes Position in Tyler Technologies, Inc. (NYSE:TYL)

Azzad Asset Management Inc. ADV purchased a new position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,601 shares of the technology company's stock, valued at approximately $3,257,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Elevation Point Wealth Partners LLC bought a new stake in shares of Tyler Technologies in the 1st quarter valued at approximately $221,000. Fifth Third Bancorp raised its stake in shares of Tyler Technologies by 27.0% in the first quarter. Fifth Third Bancorp now owns 1,468 shares of the technology company's stock valued at $853,000 after purchasing an additional 312 shares in the last quarter. Simon Quick Advisors LLC acquired a new position in shares of Tyler Technologies in the first quarter valued at $234,000. Axecap Investments LLC raised its stake in shares of Tyler Technologies by 17.7% in the first quarter. Axecap Investments LLC now owns 5,677 shares of the technology company's stock valued at $3,301,000 after purchasing an additional 852 shares in the last quarter. Finally, Curbstone Financial Management Corp raised its stake in shares of Tyler Technologies by 2.2% in the first quarter. Curbstone Financial Management Corp now owns 1,104 shares of the technology company's stock valued at $642,000 after purchasing an additional 24 shares in the last quarter. 93.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on TYL shares. The Goldman Sachs Group upped their target price on Tyler Technologies from $660.00 to $728.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. DA Davidson lowered their price target on Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Wall Street Zen cut Tyler Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Needham & Company LLC reiterated a "buy" rating and issued a $750.00 price target on shares of Tyler Technologies in a research report on Tuesday, May 13th. Finally, Robert W. Baird lowered their price target on Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $680.50.

Tyler Technologies Stock Down 1.3%

Tyler Technologies stock traded down $7.68 during midday trading on Friday, reaching $580.06. The stock had a trading volume of 350,724 shares, compared to its average volume of 264,500. The stock has a market capitalization of $25.01 billion, a P/E ratio of 95.72, a price-to-earnings-growth ratio of 4.93 and a beta of 0.84. Tyler Technologies, Inc. has a 1-year low of $458.50 and a 1-year high of $661.31. The firm's fifty day simple moving average is $564.19 and its 200-day simple moving average is $584.59. 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 issued its earnings results on Wednesday, April 23rd. The technology company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.56 by $0.22. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. The company had revenue of $562.43 million during the quarter, compared to the consensus estimate of $556.45 million. During the same period in the previous year, the company posted $2.20 EPS. The firm's revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Insider Transactions at Tyler Technologies

In related news, Director Daniel M. Pope sold 365 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $550.00, for a total transaction of $200,750.00. Following the transaction, the director now directly owns 2,853 shares of the company's stock, valued at approximately $1,569,150. This trade represents a 11.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian K. Miller sold 1,033 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $557.45, for a total value of $575,845.85. Following the sale, the chief financial officer now owns 13,028 shares of the company's stock, valued at approximately $7,262,458.60. The trade was a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 25,300 shares of company stock worth $14,480,366. 1.10% of the stock is owned by company insiders.

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.