DAVENPORT & Co LLC Increases Holdings in Tyler Technologies, Inc. (NYSE:TYL)

DAVENPORT & Co LLC boosted its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 86.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,146 shares of the technology company's stock after acquiring an additional 532 shares during the quarter. DAVENPORT & Co LLC's holdings in Tyler Technologies were worth $666,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new stake in Tyler Technologies during the fourth quarter valued at $528,465,000. GAMMA Investing LLC lifted its position in shares of Tyler Technologies by 57,694.7% during the 1st quarter. GAMMA Investing LLC now owns 878,480 shares of the technology company's stock worth $510,739,000 after purchasing an additional 876,960 shares during the last quarter. Wealthfront Advisers LLC raised its holdings in Tyler Technologies by 8,973.6% in the 4th quarter. Wealthfront Advisers LLC now owns 154,433 shares of the technology company's stock valued at $89,052,000 after acquiring an additional 152,731 shares in the last quarter. Marshall Wace LLP raised its holdings in Tyler Technologies by 897.6% in the 4th quarter. Marshall Wace LLP now owns 112,210 shares of the technology company's stock valued at $64,705,000 after acquiring an additional 100,962 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Tyler Technologies by 52.6% in 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 valued at $163,448,000 after acquiring an additional 97,718 shares in the last quarter. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Tyler Technologies Trading Down 0.1%

NYSE TYL traded down $0.48 during trading on Monday, hitting $589.56. 235,921 shares of the company's stock were exchanged, compared to its average volume of 263,667. The company has a market cap of $25.42 billion, a PE ratio of 88.79, a P/E/G ratio of 4.61 and a beta of 0.84. Tyler Technologies, Inc. has a fifty-two week low of $503.54 and a fifty-two week high of $661.31. The stock's 50 day moving average price is $571.25 and its two-hundred day moving average price is $580.51.

Tyler Technologies (NYSE:TYL - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.22. Tyler Technologies had a return on equity of 10.29% and a net margin of 13.23%. The company had revenue of $562.43 million during the quarter, compared to the consensus estimate of $556.45 million. During the same quarter in the prior year, the firm posted $2.20 earnings per share. The firm's revenue was up 10.3% compared to the same quarter last year. Analysts forecast that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Brian K. Miller sold 3,333 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $568.46, for a total value of $1,894,677.18. Following the transaction, the chief financial officer directly owned 11,231 shares in the company, valued at $6,384,374.26. This trade represents a 22.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO H Lynn Moore, Jr. sold 5,250 shares of the 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 completion of the transaction, the chief executive officer owned 81,775 shares in the company, valued at approximately $47,853,094.50. This represents a 6.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,500 shares of company stock valued at $15,177,230 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Needham & Company LLC reiterated a "buy" rating and issued a $750.00 price objective on shares of Tyler Technologies in a research report on Tuesday, May 13th. Wall Street Zen lowered Tyler Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Cantor Fitzgerald initiated coverage on Tyler Technologies in a research note on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 price target on the stock. Wells Fargo & Company dropped their price target on 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. Finally, Piper Sandler dropped their price target on Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating on the stock in a research note 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's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $680.50.

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.