New Age Alpha Advisors LLC Boosts Stake in Tyler Technologies, Inc. (NYSE:TYL)

Key Points

• New Age Alpha Advisors LLC increased its holdings in Tyler Technologies, Inc. by 122.2%, acquiring 4,652 additional shares, bringing its total stake to 8,458 shares worth approximately $4.9 million.
• CEO H Lynn Moore, Jr. sold 5,250 shares of Tyler Technologies stock for over $3 million, decreasing his ownership by 6.03%, while insiders collectively sold a total of 30,352 shares valued at around $17.4 million in the last quarter.
• Analysts have set new price targets for Tyler Technologies, with ratings ranging from a "hold" to "overweight", and a consensus target price of $688.27, reflecting a cautious outlook amid various target price adjustments.

New Age Alpha Advisors LLC lifted its stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 122.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,458 shares of the technology company's stock after acquiring an additional 4,652 shares during the period. New Age Alpha Advisors LLC's holdings in Tyler Technologies were worth $4,917,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Retirement Wealth Solutions LLC acquired a new position in Tyler Technologies during the 1st quarter valued at about $26,000. Mowery & Schoenfeld Wealth Management LLC increased its holdings in shares of Tyler Technologies by 820.0% during the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company's stock valued at $27,000 after acquiring an additional 41 shares in the last quarter. Cornerstone Planning Group LLC raised its position in shares of Tyler Technologies by 221.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 61 shares of the technology company's stock valued at $35,000 after purchasing an additional 42 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new stake in Tyler Technologies in the 4th quarter worth approximately $40,000. Finally, Whipplewood Advisors LLC grew its position in Tyler Technologies by 255.0% during the 1st quarter. Whipplewood Advisors LLC now owns 71 shares of the technology company's stock worth $41,000 after purchasing an additional 51 shares during the last quarter. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Tyler Technologies Stock Down 2.0%

Shares of TYL stock traded down $12.28 during trading hours on Thursday, hitting $599.49. 532,735 shares of the company's stock were exchanged, compared to its average volume of 383,827. Tyler Technologies, Inc. has a fifty-two week low of $513.52 and a fifty-two week high of $661.31. The firm has a market cap of $25.93 billion, a P/E ratio of 85.64, a P/E/G ratio of 4.70 and a beta of 0.85. The firm has a 50 day moving average of $576.54 and a two-hundred day moving average of $579.34.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.91 earnings per share for the quarter, topping analysts' consensus estimates of $2.78 by $0.13. The company had revenue of $584.01 million during the quarter, compared to analysts' expectations of $587.59 million. Tyler Technologies had a net margin of 13.66% and a return on equity of 10.34%. The firm's revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.40 earnings per share. On average, equities analysts forecast that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TYL shares. Barclays upped their price target on shares of Tyler Technologies from $695.00 to $715.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Piper Sandler cut their target price 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. Robert W. Baird lowered their price target on Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Wells Fargo & Company dropped their price target on Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Finally, DA Davidson set a $585.00 price objective on Tyler Technologies and gave the company a "neutral" rating in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Tyler Technologies currently has an average rating of "Moderate Buy" and an average target price of $688.27.

Insider Activity at Tyler Technologies

In other news, CEO H Lynn Moore, Jr. sold 5,250 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $580.77, for a total value of $3,049,042.50. Following the transaction, the chief executive officer owned 81,775 shares in the company, valued at $47,492,466.75. This trade represents a 6.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Brenda A. Cline sold 2,500 shares of Tyler Technologies stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $577.41, for a total value of $1,443,525.00. Following the completion of the sale, the director directly owned 2,519 shares in the company, valued at $1,454,495.79. This represents a 49.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,352 shares of company stock worth $17,449,676 in the last quarter. Company insiders own 1.10% of the company's stock.

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.