Tyler Technologies, Inc. (NYSE:TYL) Shares Purchased by DAVENPORT & Co LLC

DAVENPORT & Co LLC grew its holdings in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 86.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,146 shares of the technology company's stock after purchasing an additional 532 shares during the quarter. DAVENPORT & Co LLC's holdings in Tyler Technologies were worth $666,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Jones Financial Companies Lllp boosted its holdings in shares of Tyler Technologies by 32.5% in the 4th quarter. Jones Financial Companies Lllp now owns 1,309 shares of the technology company's stock worth $755,000 after acquiring an additional 321 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Tyler Technologies during the 4th quarter worth about $61,000. Steward Partners Investment Advisory LLC grew its holdings in shares of Tyler Technologies by 43.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 541 shares of the technology company's stock valued at $312,000 after acquiring an additional 165 shares in the last quarter. Assetmark Inc. grew its holdings in Tyler Technologies by 6.3% during the fourth quarter. Assetmark Inc. now owns 10,536 shares of the technology company's stock worth $6,075,000 after purchasing an additional 626 shares during the period. Finally, Atria Investments Inc grew its position in Tyler Technologies by 22.0% in the fourth quarter. Atria Investments Inc now owns 4,295 shares of the technology company's stock valued at $2,477,000 after acquiring an additional 775 shares during the last quarter. 93.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TYL. Wells Fargo & Company dropped their price objective on Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Barclays decreased their price target on Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Wall Street Zen lowered Tyler Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. DA Davidson dropped their target price on Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. Finally, Piper Sandler dropped their target price on Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Tyler Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price of $680.50.

Insider Activity

In other Tyler Technologies news, CFO Brian K. Miller sold 1,200 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $580.72, for a total transaction of $696,864.00. Following the transaction, the chief financial officer directly owned 13,772 shares in the company, valued at $7,997,675.84. This trade represents a 8.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO H Lynn Moore, Jr. sold 5,250 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $585.18, for a total value of $3,072,195.00. Following the transaction, the chief executive officer owned 81,775 shares in the company, valued at $47,853,094.50. The trade was a 6.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,500 shares of company stock worth $15,177,230 in the last three months. Corporate insiders own 1.10% of the company's stock.

Tyler Technologies Stock Down 3.1%

Tyler Technologies stock traded down $17.69 during midday trading on Thursday, reaching $561.29. 405,326 shares of the stock traded hands, compared to its average volume of 265,717. Tyler Technologies, Inc. has a 12 month low of $503.54 and a 12 month high of $661.31. The stock has a market cap of $24.20 billion, a P/E ratio of 84.53, a PEG ratio of 4.57 and a beta of 0.84. The stock's fifty day moving average is $574.37 and its 200-day moving average is $580.43.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its quarterly 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 return on equity of 10.29% and a net margin of 13.23%. The firm had revenue of $562.43 million during the quarter, compared to analyst estimates of $556.45 million. During the same period last year, the company earned $2.20 EPS. Tyler Technologies's quarterly revenue was up 10.3% compared to the same quarter last year. On average, equities analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal 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.