Local Pensions Partnership Investment Ltd Grows Stock Position in Tyler Technologies, Inc. $TYL

Key Points

• Local Pensions Partnership Investment Ltd increased its stake in Tyler Technologies by 6.2% in Q4 to 439,292 shares (about 1.02% of the company), worth roughly $199.38 million and representing the fund's 14th largest holding (3.5% of its portfolio).
• Sell-side sentiment is mixed but positive overall: 12 analysts rate TYL a Buy and three a Hold, giving a consensus rating of "Moderate Buy" with an average price target of $463.69, although several firms trimmed targets in February.
• Institutional ownership is high at 93.3%; insiders net sold 7,298 shares (~$2.66 million) over the last quarter despite one insider purchasing 610 shares, leaving insiders with 1.10% ownership.

Local Pensions Partnership Investment Ltd grew its position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 6.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 439,292 shares of the technology company's stock after acquiring an additional 25,800 shares during the quarter. Tyler Technologies comprises 3.5% of Local Pensions Partnership Investment Ltd's holdings, making the stock its 14th largest position. Local Pensions Partnership Investment Ltd owned 1.02% of Tyler Technologies worth $199,381,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TYL. Cerity Partners LLC grew its stake in Tyler Technologies by 0.6% during the 2nd quarter. Cerity Partners LLC now owns 2,959 shares of the technology company's stock valued at $1,754,000 after acquiring an additional 19 shares in the last quarter. Signaturefd LLC grew its stake in Tyler Technologies by 3.9% during the 3rd quarter. Signaturefd LLC now owns 613 shares of the technology company's stock valued at $321,000 after acquiring an additional 23 shares in the last quarter. Coldstream Capital Management Inc. grew its stake in Tyler Technologies by 2.0% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,167 shares of the technology company's stock valued at $611,000 after acquiring an additional 23 shares in the last quarter. Citizens Financial Group Inc. RI grew its stake in Tyler Technologies by 5.8% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 435 shares of the technology company's stock valued at $228,000 after acquiring an additional 24 shares in the last quarter. Finally, CWM LLC grew its stake in Tyler Technologies by 4.0% during the 3rd quarter. CWM LLC now owns 647 shares of the technology company's stock valued at $339,000 after acquiring an additional 25 shares in the last quarter. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TYL has been the subject of several research reports. DA Davidson reaffirmed a "buy" rating and set a $460.00 price objective on shares of Tyler Technologies in a research note on Tuesday, April 14th. Wells Fargo & Company cut their price objective on shares of Tyler Technologies from $420.00 to $335.00 and set an "equal weight" rating for the company in a research report on Friday, February 13th. Cantor Fitzgerald restated a "neutral" rating and set a $325.00 price objective on shares of Tyler Technologies in a research report on Friday, February 13th. Barclays cut their price objective on shares of Tyler Technologies from $715.00 to $410.00 and set an "overweight" rating for the company in a research report on Friday, February 13th. Finally, Piper Sandler restated an "overweight" rating and set a $543.00 price objective (down from $671.00) on shares of Tyler Technologies in a research report on Friday, February 13th. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $463.69.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, insider Abigail Marshall Diaz-Pedrosa purchased 610 shares of Tyler Technologies stock in a transaction dated Friday, February 20th. The shares were acquired at an average price of $325.08 per share, with a total value of $198,298.80. Following the completion of the transaction, the insider owned 1,123 shares of the company's stock, valued at $365,064.84. This trade represents a 118.91% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Glenn A. Carter sold 1,624 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $349.14, for a total transaction of $567,003.36. Following the sale, the director directly owned 5,298 shares in the company, valued at $1,849,743.72. This represents a 23.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 7,298 shares of company stock valued at $2,658,721 over the last quarter. 1.10% of the stock is owned by insiders.

Tyler Technologies Price Performance

Shares of TYL stock opened at $342.48 on Friday. The firm has a market cap of $14.54 billion, a PE ratio of 47.57, a price-to-earnings-growth ratio of 2.28 and a beta of 0.92. The company has a 50-day moving average of $338.72 and a two-hundred day moving average of $417.12. Tyler Technologies, Inc. has a 1-year low of $283.71 and a 1-year high of $621.34.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its earnings results on Wednesday, February 11th. The technology company reported $2.64 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.07). The company had revenue of $575.18 million for the quarter, compared to analysts' expectations of $591.09 million. Tyler Technologies had a return on equity of 10.42% and a net margin of 13.53%.The company's quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the business earned $2.43 EPS. Sell-side analysts anticipate that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

About Tyler Technologies

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler's product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.