HB Wealth Management LLC Grows Stock Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Key Points

• HB Wealth Management LLC significantly increased its holdings in Tyler Technologies by 284.7%, owning 4,374 shares worth approximately $2.54 million following additional purchases in the first quarter.
• Tyler Technologies shares have experienced a 0.8% decline in trading, with a current price of $555.52 and a market capitalization of $23.95 billion.
• Analysts have mixed views on Tyler Technologies, with ratings ranging from "buy" to "hold," and an average target price set at $685.09.

HB Wealth Management LLC raised its position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 284.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,374 shares of the technology company's stock after acquiring an additional 3,237 shares during the quarter. HB Wealth Management LLC's holdings in Tyler Technologies were worth $2,543,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Integrated Wealth Concepts LLC increased its stake in shares of Tyler Technologies by 2.3% during the fourth quarter. Integrated Wealth Concepts LLC now owns 786 shares of the technology company's stock valued at $453,000 after purchasing an additional 18 shares in the last quarter. AdvisorNet Financial Inc increased its stake in shares of Tyler Technologies by 7.0% during the first quarter. AdvisorNet Financial Inc now owns 291 shares of the technology company's stock valued at $169,000 after purchasing an additional 19 shares in the last quarter. Leelyn Smith LLC increased its stake in shares of Tyler Technologies by 0.9% during the first quarter. Leelyn Smith LLC now owns 2,122 shares of the technology company's stock valued at $1,234,000 after purchasing an additional 19 shares in the last quarter. Benjamin Edwards Inc. increased its stake in shares of Tyler Technologies by 1.5% during the fourth quarter. Benjamin Edwards Inc. now owns 1,526 shares of the technology company's stock valued at $880,000 after purchasing an additional 22 shares in the last quarter. Finally, MV Capital Management Inc. increased its stake in shares of Tyler Technologies by 42.9% during the first quarter. MV Capital Management Inc. now owns 80 shares of the technology company's stock valued at $47,000 after purchasing an additional 24 shares in the last quarter. 93.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

TYL has been the subject of a number of analyst reports. Robert W. Baird decreased their target price on shares of Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Barclays lowered their price objective on Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Piper Sandler lowered their price objective on Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Wall Street Zen cut Tyler Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Finally, Wells Fargo & Company lowered their price objective on Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $685.09.

Insider Buying and Selling at Tyler Technologies

In other news, CFO Brian K. Miller sold 3,333 shares of Tyler Technologies stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $568.46, for a total transaction of $1,894,677.18. Following the transaction, the chief financial officer 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 legal filing with the SEC, which is available through this hyperlink. Also, Director Brenda A. Cline sold 2,500 shares of Tyler Technologies stock in a transaction on Friday, May 16th. The stock was sold at an average price of $577.41, for a total transaction of $1,443,525.00. Following the transaction, the director owned 2,519 shares in the company, valued at $1,454,495.79. This represents a 49.81% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,500 shares of company stock worth $15,177,230. 1.10% of the stock is owned by insiders.

Tyler Technologies Trading Up 4.2%

TYL stock traded up $23.21 on Thursday, hitting $577.88. The company had a trading volume of 531,323 shares, compared to its average volume of 285,707. Tyler Technologies, Inc. has a 12-month low of $513.52 and a 12-month high of $661.31. The stock's 50-day simple moving average is $573.44 and its 200 day simple moving average is $578.31. The stock has a market cap of $24.92 billion, a price-to-earnings ratio of 86.93, a P/E/G ratio of 4.31 and a beta of 0.84.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its earnings results on Wednesday, July 30th. The technology company reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.78 by $0.13. Tyler Technologies had a net margin of 13.23% and a return on equity of 10.29%. The company had revenue of $584.01 million for the quarter, compared to analysts' expectations of $587.59 million. During the same quarter last year, the company posted $2.40 earnings per share. The firm's quarterly revenue was up 10.2% on a year-over-year basis. Research analysts forecast that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

About Tyler Technologies

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.