Tyler Technologies, Inc. (NYSE:TYL) Shares Bought by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its holdings in Tyler Technologies, Inc. by 10.4%, now owning 12,152 shares valued at approximately $7.07 million.
• Insider transactions included John S. Marr, Jr. selling 5,000 shares for about $2.79 million, resulting in a 41.73% decrease in their position.
• Analysts have mixed ratings for Tyler Technologies, with a consensus rating of "Moderate Buy" and an average target price of $686.91.

Cetera Investment Advisers increased its stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 10.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,152 shares of the technology company's stock after acquiring an additional 1,149 shares during the period. Cetera Investment Advisers' holdings in Tyler Technologies were worth $7,065,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. LPL Financial LLC boosted its holdings in Tyler Technologies by 19.8% in the fourth quarter. LPL Financial LLC now owns 13,363 shares of the technology company's stock valued at $7,706,000 after purchasing an additional 2,204 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Tyler Technologies by 195.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 39,098 shares of the technology company's stock worth $22,545,000 after purchasing an additional 25,861 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of Tyler Technologies by 47.0% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 3,521 shares of the technology company's stock worth $2,030,000 after purchasing an additional 1,126 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Tyler Technologies by 28.4% during the fourth quarter. Wellington Management Group LLP now owns 193,246 shares of the technology company's stock worth $111,433,000 after purchasing an additional 42,771 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Tyler Technologies by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 1,136,734 shares of the technology company's stock valued at $654,406,000 after purchasing an additional 27,826 shares during the last quarter. Institutional investors and hedge funds own 93.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on TYL shares. DA Davidson lowered their target price on shares of 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 downgraded shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Piper Sandler reduced their price objective on Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Cantor Fitzgerald assumed coverage on Tyler Technologies in a report on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 target price on the stock. Finally, Wells Fargo & Company cut their price target on 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. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Tyler Technologies has an average rating of "Moderate Buy" and an average target price of $686.91.

Tyler Technologies Stock Performance

TYL stock traded up $20.61 during trading on Monday, reaching $602.26. 337,178 shares of the company were exchanged, compared to its average volume of 372,659. The stock's 50 day moving average price is $573.84 and its 200 day moving average price is $578.46. Tyler Technologies, Inc. has a 52-week low of $513.52 and a 52-week high of $661.31. The company has a market cap of $26.05 billion, a P/E ratio of 71.46, a PEG ratio of 4.50 and a beta of 0.85.

Tyler Technologies (NYSE:TYL - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The technology company reported $2.91 earnings per share for the quarter, topping analysts' consensus estimates of $2.78 by $0.13. The business had revenue of $584.01 million for the quarter, compared to analysts' expectations of $587.59 million. Tyler Technologies had a return on equity of 10.34% and a net margin of 13.66%. The company's revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.40 EPS. As a group, equities research analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Insider Buying and Selling at Tyler Technologies

In other news, insider John S. Marr, Jr. sold 5,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 6,983 shares of the company's stock, valued at $3,902,519.38. This trade represents a 41.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brenda A. Cline sold 2,500 shares of Tyler Technologies stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $577.41, for a total value of $1,443,525.00. Following the transaction, the director owned 2,519 shares of the company's stock, valued at $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. In the last three months, insiders have sold 31,385 shares of company stock worth $18,025,522. 1.10% of the stock is currently owned by 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.