Banque Cantonale Vaudoise Purchases New Shares in Tyler Technologies, Inc. (NYSE:TYL)

Key Points

• Banque Cantonale Vaudoise has purchased a new position in Tyler Technologies, investing approximately $617,000 for 1,062 shares, as reported in its recent SEC filing.
• Insider trading activity includes CFO Brian K. Miller selling 1,200 shares for around $696,864, reducing his ownership by 8.01%.
• Tyler Technologies reported a quarterly earnings per share (EPS) of $2.91, exceeding expectations, while a number of analysts have adjusted their price targets, with a consensus rating of "Moderate Buy."

Banque Cantonale Vaudoise bought a new position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,062 shares of the technology company's stock, valued at approximately $617,000.

Several other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC grew 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 acquiring an additional 876,960 shares in the last quarter. Marshall Wace LLP grew its stake in Tyler Technologies by 897.6% in the fourth 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Tyler Technologies by 52.6% during 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 during the period. TCW Group Inc. raised its position in Tyler Technologies by 144.0% during the 1st quarter. TCW Group Inc. now owns 152,775 shares of the technology company's stock valued at $88,822,000 after purchasing an additional 90,172 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its stake in Tyler Technologies by 90.3% in the fourth quarter. Squarepoint Ops LLC now owns 138,916 shares of the technology company's stock worth $80,105,000 after acquiring an additional 65,911 shares during the period. Institutional investors own 93.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on TYL shares. Wells Fargo & Company dropped their price objective on shares of Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Barclays increased their target price on Tyler Technologies from $695.00 to $715.00 and gave the company an "overweight" rating in a research report on Thursday. Cantor Fitzgerald started coverage on Tyler Technologies in a research report on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 price target for the company. DA Davidson dropped their price objective 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. Finally, Robert W. Baird reduced their target price on shares of Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Tyler Technologies presently has an average rating of "Moderate Buy" and an average price target of $686.91.

Insider Activity

In related news, insider John S. Marr, Jr. sold 5,000 shares of the stock in a transaction on Friday, May 9th. The shares were sold at an average price of $558.86, for a total transaction of $2,794,300.00. Following the sale, the insider directly owned 6,983 shares of the company's stock, valued at approximately $3,902,519.38. This represents a 41.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Brenda A. Cline sold 2,500 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $577.41, for a total transaction of $1,443,525.00. Following the sale, the director owned 2,519 shares in the company, valued at approximately $1,454,495.79. This represents a 49.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,385 shares of company stock valued at $18,025,522 in the last quarter. Company insiders own 1.10% of the company's stock.

Tyler Technologies Stock Up 3.5%

Shares of Tyler Technologies stock traded up $20.61 on Monday, reaching $602.26. 337,178 shares of the stock were exchanged, compared to its average volume of 372,659. The business has a 50 day moving average price of $573.84 and a two-hundred day moving average price of $578.46. The firm has a market capitalization of $26.05 billion, a price-to-earnings ratio of 86.04, a PEG ratio of 4.50 and a beta of 0.85. 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 posted its quarterly earnings results on Wednesday, July 30th. The technology company reported $2.91 EPS for the quarter, beating the consensus estimate of $2.78 by $0.13. The company had revenue of $584.01 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the company earned $2.40 earnings per share. Research analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current 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.