LPL Financial LLC Boosts Position in Tyler Technologies, Inc. (NYSE:TYL)

Key Points

• LPL Financial LLC has increased its holdings in Tyler Technologies, Inc. by 25.6%, acquiring an additional 3,424 shares in the first quarter, bringing its total shares to 16,787 valued at approximately $9.76 million.
• Insider Abigail Marshall Diaz-Pedrosa sold 375 shares of Tyler Technologies for approximately $215,100, reducing their ownership by 60.29%.
• Tyler Technologies reported earnings of $2.91 EPS for the last quarter, exceeding expectations, with a revenue of $584.01 million, showing a 10.2% increase compared to the prior year.

LPL Financial LLC increased its position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 25.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,787 shares of the technology company's stock after buying an additional 3,424 shares during the quarter. LPL Financial LLC's holdings in Tyler Technologies were worth $9,760,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Tyler Technologies by 10.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,112 shares of the technology company's stock valued at $22,739,000 after buying an additional 3,743 shares in the last quarter. Empirical Finance LLC lifted its stake in shares of Tyler Technologies by 3.5% in the 1st quarter. Empirical Finance LLC now owns 1,386 shares of the technology company's stock worth $806,000 after purchasing an additional 47 shares during the period. TD Asset Management Inc lifted its stake in shares of Tyler Technologies by 3.2% in the 1st quarter. TD Asset Management Inc now owns 166,110 shares of the technology company's stock worth $96,575,000 after purchasing an additional 5,103 shares during the period. HB Wealth Management LLC increased its holdings in Tyler Technologies by 284.7% in the 1st quarter. HB Wealth Management LLC now owns 4,374 shares of the technology company's stock worth $2,543,000 after acquiring an additional 3,237 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its holdings in Tyler Technologies by 0.7% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 68,377 shares of the technology company's stock worth $39,754,000 after acquiring an additional 449 shares in the last quarter. 93.30% of the stock is owned by hedge funds and other institutional investors.

Tyler Technologies Stock Down 1.0%

Tyler Technologies stock traded down $6.20 during trading hours on Friday, hitting $593.99. The stock had a trading volume of 252,619 shares, compared to its average volume of 390,644. The company has a 50-day moving average of $576.89 and a two-hundred day moving average of $579.26. The company has a market cap of $25.70 billion, a PE ratio of 84.86, a price-to-earnings-growth ratio of 4.56 and a beta of 0.85. Tyler Technologies, Inc. has a fifty-two week low of $513.52 and a fifty-two week high of $661.31.

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, topping the consensus estimate of $2.78 by $0.13. The firm 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 company's revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.40 earnings per share. As a group, analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Analysts Set New Price Targets

TYL has been the subject of a number of recent research reports. DA Davidson set a $585.00 target price on shares of Tyler Technologies and gave the company a "neutral" rating in a report on Tuesday, August 5th. Robert W. Baird cut their target price on Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Wells Fargo & Company cut their price objective on shares of Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Needham & Company LLC reiterated a "buy" rating and issued a $750.00 price target on shares of Tyler Technologies in a report on Tuesday, May 13th. Finally, Piper Sandler dropped their price objective on shares of Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $688.27.

Insider Buying and Selling at Tyler Technologies

In related news, Director Brenda A. Cline sold 2,500 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $577.41, for a total value of $1,443,525.00. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John S. Marr, Jr. sold 4,000 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $568.66, for a total transaction of $2,274,640.00. Following the completion of the sale, the insider owned 6,983 shares of the company's stock, valued at approximately $3,970,952.78. This trade represents a 36.42% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,352 shares of company stock valued at $14,655,376. 1.10% of the stock is owned by corporate insiders.

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.