Rhumbline Advisers raised its stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 5.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 96,420 shares of the technology company's stock after acquiring an additional 4,632 shares during the quarter. Rhumbline Advisers owned approximately 0.22% of Tyler Technologies worth $56,057,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Adage Capital Partners GP L.L.C. lifted its holdings in Tyler Technologies by 20.7% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 42,500 shares of the technology company's stock valued at $24,507,000 after purchasing an additional 7,300 shares in the last quarter. Kensington Investment Counsel LLC lifted its stake in shares of Tyler Technologies by 0.8% during the fourth quarter. Kensington Investment Counsel LLC now owns 2,496 shares of the technology company's stock valued at $1,439,000 after buying an additional 20 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Tyler Technologies by 148.2% during the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company's stock valued at $269,369,000 after buying an additional 275,511 shares during the period. Asset Management One Co. Ltd. boosted its position in Tyler Technologies by 4.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 33,893 shares of the technology company's stock worth $19,841,000 after acquiring an additional 1,388 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Tyler Technologies by 19.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,231 shares of the technology company's stock worth $3,016,000 after acquiring an additional 847 shares during the period. 93.30% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on TYL. Needham & Company LLC reissued a "buy" rating and set a $750.00 price target on shares of Tyler Technologies in a research note on Tuesday, May 13th. Cantor Fitzgerald started coverage on Tyler Technologies in a research report on Tuesday. They set a "neutral" rating and a $600.00 target price on the stock. The Goldman Sachs Group lifted their price target on Tyler Technologies from $660.00 to $728.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Robert W. Baird dropped their price objective on shares of Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Finally, DA Davidson decreased their target price on shares of Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $680.50.
Read Our Latest Analysis on Tyler Technologies
Tyler Technologies Stock Up 0.8%
NYSE TYL traded up $4.74 during trading hours on Wednesday, hitting $578.75. The company had a trading volume of 353,468 shares, compared to its average volume of 263,203. The firm's 50 day moving average is $561.06 and its 200 day moving average is $586.32. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21. Tyler Technologies, Inc. has a fifty-two week low of $458.50 and a fifty-two week high of $661.31. The company has a market capitalization of $24.96 billion, a price-to-earnings ratio of 95.50, a P/E/G ratio of 4.93 and a beta of 0.88.
Tyler Technologies (NYSE:TYL - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.22. The company had revenue of $562.43 million during the quarter, compared to the consensus estimate of $556.45 million. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. The company's revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.20 earnings per share. Sell-side analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.
Insider Activity at Tyler Technologies
In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,000 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $619.00, for a total value of $3,714,000.00. Following the completion of the transaction, the insider now directly owns 6,983 shares of the company's stock, valued at $4,322,477. This represents a 46.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel M. Pope sold 365 shares of Tyler Technologies stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $550.00, for a total value of $200,750.00. Following the sale, the director now directly owns 2,853 shares in the company, valued at approximately $1,569,150. The trade was a 11.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 22,231 shares of company stock valued at $12,897,738. Corporate insiders own 1.10% of the company's stock.
About Tyler Technologies
(
Free Report)
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.
See Also
Before you consider Tyler Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tyler Technologies wasn't on the list.
While Tyler Technologies currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
