OneAscent Investment Solutions LLC Takes Position in Tyler Technologies, Inc. (NYSE:TYL)

Key Points

• OneAscent Investment Solutions LLC has acquired a new stake in Tyler Technologies, Inc., purchasing 594 shares valued at approximately $345,000 during the first quarter.
• Several hedge funds recently boosted their stakes in Tyler Technologies, with HighPoint Advisor Group LLC increasing its holdings by 10.9%, bringing its total to 711 shares valued at around $380,000.
• Analysts have mixed views on Tyler Technologies, with Barclays raising the target price to $715 while others like Wall Street Zen downgraded the stock from "buy" to "hold"; the average target price is currently set at $688.27.

OneAscent Investment Solutions LLC bought a new position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 594 shares of the technology company's stock, valued at approximately $345,000.

Other large investors have also recently made changes to their positions in the company. Retirement Wealth Solutions LLC bought a new position in Tyler Technologies during the 1st quarter valued at about $26,000. Mowery & Schoenfeld Wealth Management LLC lifted its position in shares of Tyler Technologies by 820.0% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company's stock worth $27,000 after purchasing an additional 41 shares during the period. Cornerstone Planning Group LLC lifted its position in Tyler Technologies by 221.1% during the first quarter. Cornerstone Planning Group LLC now owns 61 shares of the technology company's stock valued at $35,000 after acquiring an additional 42 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in Tyler Technologies during the first quarter valued at approximately $38,000. Finally, Kapitalo Investimentos Ltda acquired a new position in Tyler Technologies during the 4th quarter valued at approximately $40,000. 93.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Piper Sandler cut their price target 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. Wells Fargo & Company lowered their price target 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. DA Davidson set a $585.00 price objective on shares of Tyler Technologies and gave the company a "neutral" rating in a report on Tuesday, August 5th. Wall Street Zen downgraded shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Finally, Robert W. Baird decreased their price target on shares of Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $688.27.

Tyler Technologies Stock Down 0.1%

Tyler Technologies stock traded down $0.51 during trading on Friday, reaching $572.73. The stock had a trading volume of 279,040 shares, compared to its average volume of 388,443. Tyler Technologies, Inc. has a 52-week low of $513.52 and a 52-week high of $661.31. The business has a 50 day moving average price of $577.04 and a 200 day moving average price of $578.34. The stock has a market cap of $24.78 billion, a PE ratio of 81.82, a P/E/G ratio of 4.39 and a beta of 0.85.

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

Insider Activity at Tyler Technologies

In other news, CFO Brian K. Miller sold 1,200 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $580.72, for a total transaction of $696,864.00. Following the completion of the sale, the chief financial officer owned 13,772 shares in the company, valued at approximately $7,997,675.84. The trade was a 8.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John S. Marr, Jr. sold 4,000 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $568.66, for a total transaction of $2,274,640.00. Following the sale, the insider owned 6,983 shares of the company's stock, valued at $3,970,952.78. This represents a 36.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,102 shares of company stock worth $16,303,524 over the last 90 days. 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.