Paragon Capital Management Inc. Increases Stock Position in Tyler Technologies, Inc. (NYSE:TYL)

Paragon Capital Management Inc. lifted its position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 317.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,574 shares of the technology company's stock after buying an additional 1,958 shares during the quarter. Tyler Technologies comprises approximately 1.2% of Paragon Capital Management Inc.'s holdings, making the stock its 27th biggest position. Paragon Capital Management Inc.'s holdings in Tyler Technologies were worth $1,496,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC raised its holdings in shares of Tyler Technologies by 221.4% in the 4th quarter. Larson Financial Group LLC now owns 45 shares of the technology company's stock valued at $26,000 after purchasing an additional 31 shares during the period. Retirement Wealth Solutions LLC acquired a new position in Tyler Technologies during the first quarter worth approximately $26,000. Brown Brothers Harriman & Co. raised its stake in Tyler Technologies by 300.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company's stock valued at $32,000 after buying an additional 42 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in shares of Tyler Technologies in the fourth quarter valued at approximately $40,000. Finally, OFI Invest Asset Management bought a new position in shares of Tyler Technologies during the 4th quarter worth approximately $41,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TYL shares. Piper Sandler decreased their price objective on shares of Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Wall Street Zen downgraded shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Cantor Fitzgerald started coverage on Tyler Technologies in a report on Tuesday, June 3rd. They set a "neutral" rating and a $600.00 target price for the company. Needham & Company LLC restated a "buy" rating and issued a $750.00 price target on shares of Tyler Technologies in a research note on Tuesday, May 13th. Finally, Barclays lowered their price target on shares of Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $680.50.

Insider Buying and Selling

In other Tyler Technologies news, Director Daniel M. Pope sold 365 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $550.00, for a total transaction of $200,750.00. Following the sale, the director now owns 2,853 shares of the company's stock, valued at approximately $1,569,150. This represents a 11.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $573.60, for a total value of $215,100.00. Following the sale, the insider now directly owns 247 shares of the company's stock, valued at $141,679.20. This represents a 60.29% 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 90 days. 1.10% of the stock is owned by insiders.

Tyler Technologies Trading Up 2.2%

Tyler Technologies stock traded up $12.61 during midday trading on Monday, reaching $593.71. The company's stock had a trading volume of 266,129 shares, compared to its average volume of 262,285. The stock has a market cap of $25.60 billion, a PE ratio of 89.41, a price-to-earnings-growth ratio of 4.54 and a beta of 0.85. Tyler Technologies, Inc. has a 52 week low of $495.21 and a 52 week high of $661.31. The business has a 50-day moving average price of $567.18 and a 200-day moving average price of $580.99.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The technology company reported $2.78 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $556.45 million. During the same period last year, the company earned $2.20 earnings per share. The business's quarterly revenue was up 10.3% on a year-over-year basis. As a group, research analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

About Tyler Technologies

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.