Kentucky Retirement Systems Insurance Trust Fund Acquires Shares of 1,233 Tyler Technologies, Inc. (NYSE:TYL)

Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,233 shares of the technology company's stock, valued at approximately $717,000.

Several other hedge funds have also modified their holdings of the stock. BankPlus Trust Department purchased a new position in Tyler Technologies in the fourth quarter valued at $170,000. Amalgamated Bank increased its holdings in Tyler Technologies by 0.4% in the fourth quarter. Amalgamated Bank now owns 8,911 shares of the technology company's stock valued at $5,138,000 after buying an additional 35 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in Tyler Technologies by 2,291.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 106,118 shares of the technology company's stock valued at $61,192,000 after buying an additional 101,681 shares during the last quarter. Illinois Municipal Retirement Fund increased its holdings in Tyler Technologies by 15.7% in the fourth quarter. Illinois Municipal Retirement Fund now owns 4,323 shares of the technology company's stock valued at $2,493,000 after buying an additional 588 shares during the last quarter. Finally, Cavalier Investments LLC increased its holdings in Tyler Technologies by 3.1% in the fourth quarter. Cavalier Investments LLC now owns 1,580 shares of the technology company's stock valued at $911,000 after buying an additional 48 shares during the last quarter. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Tyler Technologies news, CFO Brian K. Miller sold 1,200 shares of Tyler Technologies stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $580.72, for a total value of $696,864.00. Following the sale, the chief financial officer now owns 13,772 shares of the company's stock, valued at approximately $7,997,675.84. The trade was a 8.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John S. Marr, Jr. sold 5,000 shares of Tyler Technologies stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $558.86, for a total value of $2,794,300.00. Following the completion of the sale, the insider now directly owns 6,983 shares in the company, valued at $3,902,519.38. This represents a 41.73% decrease in their position. 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 quarter. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on TYL shares. Wall Street Zen lowered Tyler Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Needham & Company LLC reissued a "buy" rating and issued a $750.00 target price on shares of Tyler Technologies in a report on Tuesday, May 13th. Barclays dropped their target price on Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. 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. Finally, DA Davidson dropped their price objective on Tyler Technologies from $595.00 to $570.00 and set a "neutral" 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 assigned a buy rating to the stock. According to MarketBeat, Tyler Technologies has a consensus rating of "Moderate Buy" and an average target price of $680.50.

Tyler Technologies Trading Up 0.7%

Shares of NYSE TYL traded up $4.30 during midday trading on Friday, reaching $581.50. 409,793 shares of the company were exchanged, compared to its average volume of 262,267. Tyler Technologies, Inc. has a 1 year low of $495.21 and a 1 year high of $661.31. The stock has a fifty day simple moving average of $567.18 and a 200 day simple moving average of $581.32. The stock has a market cap of $25.07 billion, a P/E ratio of 87.58, a PEG ratio of 4.54 and a beta of 0.84.

Tyler Technologies (NYSE:TYL - Get Free Report) last released 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 for the quarter, compared to analyst estimates of $556.45 million. During the same quarter last year, the company posted $2.20 earnings per share. The business's revenue was up 10.3% on a year-over-year basis. As a group, analysts forecast that Tyler Technologies, Inc. will post 8.52 earnings per share for the current 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.