Cookson Peirce & Co. Inc. Boosts Stock Position in Tyler Technologies, Inc. (NYSE:TYL)

Key Points

• Cookson Peirce & Co. Inc. increased its stake in Tyler Technologies, Inc. by 22.7% during the first quarter, now holding approximately 22,065 shares valued at $12.8 million.
• Insider transactions included CFO Brian K. Miller selling 3,333 shares valued at about $1.89 million, representing a 22.89% decrease in his position.
• Analysts have mixed ratings and price targets for Tyler Technologies, with Barclays raising their target to $715 while Wells Fargo lowered it to $610, reflecting a consensus price target of approximately $688.27.

Cookson Peirce & Co. Inc. increased its stake in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 22.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,065 shares of the technology company's stock after purchasing an additional 4,086 shares during the quarter. Cookson Peirce & Co. Inc. owned approximately 0.05% of Tyler Technologies worth $12,828,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TYL. Retirement Wealth Solutions LLC purchased a new stake in Tyler Technologies in the 1st quarter valued at about $26,000. Mowery & Schoenfeld Wealth Management LLC grew its holdings in Tyler Technologies by 820.0% in the 1st 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 period. Cornerstone Planning Group LLC grew its holdings in Tyler Technologies by 221.1% in the 1st 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 period. Zions Bancorporation National Association UT purchased a new stake in Tyler Technologies in the 1st quarter valued at about $38,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in Tyler Technologies in the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 93.30% of the company's stock.

Insider Buying and Selling

In related news, CFO Brian K. Miller sold 3,333 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $568.46, for a total transaction of $1,894,677.18. Following the transaction, the chief financial officer directly owned 11,231 shares of the company's stock, valued at approximately $6,384,374.26. The trade was a 22.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Brenda A. Cline sold 2,500 shares of the business's 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 directly owned 2,519 shares in the company, valued at $1,454,495.79. This trade represents a 49.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,602 shares of company stock valued at $17,747,049. Insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

TYL has been the subject of several recent analyst reports. Barclays lifted their price target on Tyler Technologies from $695.00 to $715.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Cantor Fitzgerald initiated coverage on Tyler Technologies in a report on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 price target for the company. Wells Fargo & Company lowered their price target on Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Needham & Company LLC restated a "buy" rating and issued a $750.00 price target on shares of Tyler Technologies in a report on Tuesday, May 13th. Finally, Robert W. Baird reduced their price objective on 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 research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Tyler Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $688.27.

Tyler Technologies Price Performance

NYSE TYL opened at $580.24 on Thursday. The firm has a market capitalization of $25.10 billion, a P/E ratio of 82.89, a P/E/G ratio of 4.33 and a beta of 0.85. Tyler Technologies, Inc. has a 1-year low of $513.52 and a 1-year high of $661.31. The business's 50-day simple moving average is $577.14 and its 200-day simple moving average is $579.11.

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

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.

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