JPMorgan Chase & Co. Purchases 14,219 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Key Points

• JPMorgan Chase & Co. increased its stake in Tyler Technologies by 3.1% in the 1st quarter, owning approximately 1.11% of the company, valued at $279 million.
• Multiple hedge funds have modified their investments in Tyler Technologies, leading to more than 93% of the stock being held by institutional investors.
• Analysts have adjusted their ratings and price targets for Tyler Technologies, with a consensus rating of "Moderate Buy" and an average price target of $688.27.

JPMorgan Chase & Co. boosted its holdings in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 480,085 shares of the technology company's stock after acquiring an additional 14,219 shares during the quarter. JPMorgan Chase & Co. owned 1.11% of Tyler Technologies worth $279,117,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TYL. Cerity Partners LLC increased its position in Tyler Technologies by 13.1% in the 4th quarter. Cerity Partners LLC now owns 4,350 shares of the technology company's stock valued at $2,528,000 after acquiring an additional 503 shares during the period. Advisory Services Network LLC bought a new stake in shares of Tyler Technologies during the 4th quarter worth $338,000. Sterling Capital Management LLC boosted its stake in shares of Tyler Technologies by 7.0% during the 4th quarter. Sterling Capital Management LLC now owns 962 shares of the technology company's stock worth $555,000 after acquiring an additional 63 shares in the last quarter. Synovus Financial Corp boosted its stake in shares of Tyler Technologies by 2.0% during the 4th quarter. Synovus Financial Corp now owns 6,192 shares of the technology company's stock worth $3,571,000 after acquiring an additional 121 shares in the last quarter. Finally, XTX Topco Ltd boosted its stake in shares of Tyler Technologies by 50.9% during the 4th quarter. XTX Topco Ltd now owns 1,059 shares of the technology company's stock worth $611,000 after acquiring an additional 357 shares in the last quarter. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tyler Technologies

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 5,250 shares of Tyler Technologies stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $588.89, for a total transaction of $3,091,672.50. Following the sale, the chief executive officer directly owned 81,775 shares of the company's stock, valued at approximately $48,156,479.75. The trade was a 6.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John S. Marr, Jr. sold 4,000 shares of Tyler Technologies stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $568.66, for a total value of $2,274,640.00. Following the sale, the insider directly owned 6,983 shares in the company, valued at $3,970,952.78. The trade was a 36.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,602 shares of company stock valued at $17,747,049 in the last ninety days. 1.10% of the stock is owned by corporate insiders.

Tyler Technologies Trading Down 1.3%

NYSE TYL traded down $7.41 during trading on Thursday, hitting $572.89. 223,916 shares of the company traded hands, compared to its average volume of 391,850. Tyler Technologies, Inc. has a 12 month low of $513.52 and a 12 month high of $661.31. The business has a fifty day simple moving average of $577.13 and a 200 day simple moving average of $578.87. The company has a market capitalization of $24.78 billion, a P/E ratio of 81.84, a PEG ratio of 4.46 and a beta of 0.85.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its earnings results on Wednesday, July 30th. The technology company reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.78 by $0.13. The company 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%. The business's revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company earned $2.40 earnings per share. Equities research analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on TYL. Cantor Fitzgerald began coverage on Tyler Technologies in a research note on Tuesday, June 3rd. They set a "neutral" rating and a $600.00 price objective for the company. DA Davidson set a $585.00 target price on Tyler Technologies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Barclays raised their target price on Tyler Technologies from $695.00 to $715.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Needham & Company LLC reaffirmed a "buy" rating and issued a $750.00 target price on shares of Tyler Technologies in a research report on Tuesday, May 13th. Finally, Wall Street Zen lowered Tyler Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Tyler Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $688.27.

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.