1,061 Shares in Tyler Technologies, Inc. (NYSE:TYL) Bought by Strategy Asset Managers LLC

Key Points

• Strategy Asset Managers LLC purchased 1,061 shares of Tyler Technologies, Inc. valued at approximately $617,000 in the first quarter, showcasing increasing institutional interest.
• Tyler Technologies reported $2.91 EPS for the last quarter, beating estimated earnings, with revenue up 10.2% year-over-year despite falling short of expectations.
• Multiple brokerage firms have set new price targets for Tyler Technologies, with a consensus target price of $688.27 and ratings ranging from "hold" to "buy."

Strategy Asset Managers LLC bought a new stake in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,061 shares of the technology company's stock, valued at approximately $617,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Retirement Wealth Solutions LLC purchased a new position in Tyler Technologies in the 1st quarter valued at $26,000. Mowery & Schoenfeld Wealth Management LLC raised its position in shares of Tyler Technologies by 820.0% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company's stock valued at $27,000 after buying an additional 41 shares during the last quarter. Cornerstone Planning Group LLC lifted its stake in shares of Tyler Technologies by 221.1% in the first quarter. Cornerstone Planning Group LLC now owns 61 shares of the technology company's stock worth $35,000 after buying an additional 42 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new position in Tyler Technologies during the fourth quarter worth about $40,000. Finally, Whipplewood Advisors LLC boosted its position in Tyler Technologies by 255.0% during the first quarter. Whipplewood Advisors LLC now owns 71 shares of the technology company's stock worth $41,000 after acquiring an additional 51 shares during the last quarter. Institutional investors and hedge funds own 93.30% of the company's stock.

Insider Transactions at Tyler Technologies

In related news, CEO H Lynn Moore, Jr. sold 5,250 shares of Tyler Technologies stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $580.77, for a total value of $3,049,042.50. Following the completion of the transaction, the chief executive officer owned 81,775 shares in the company, valued at approximately $47,492,466.75. The trade was a 6.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brian K. Miller sold 3,333 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $568.46, for a total transaction of $1,894,677.18. Following the sale, the chief financial officer directly owned 11,231 shares in the company, valued at approximately $6,384,374.26. The trade was a 22.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,352 shares of company stock valued at $17,449,676. Insiders own 1.10% of the company's stock.

Tyler Technologies Price Performance

Shares of TYL stock traded down $12.28 during trading hours on Thursday, hitting $599.49. The company had a trading volume of 532,735 shares, compared to its average volume of 383,827. The stock has a market capitalization of $25.93 billion, a PE ratio of 85.64, a price-to-earnings-growth ratio of 4.70 and a beta of 0.85. The company's fifty day moving average is $576.54 and its 200 day moving average is $579.34. 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 released its quarterly earnings results on Wednesday, July 30th. The technology company reported $2.91 EPS for the quarter, topping analysts' consensus estimates of $2.78 by $0.13. Tyler Technologies had a return on equity of 10.34% and a net margin of 13.66%. The company had revenue of $584.01 million for the quarter, compared to analysts' expectations of $587.59 million. During the same period in the prior year, the firm earned $2.40 earnings per share. The firm's revenue was up 10.2% compared to the same quarter last year. Equities analysts forecast that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on TYL shares. Needham & Company LLC reiterated a "buy" rating and issued a $750.00 price objective on shares of Tyler Technologies in a report on Tuesday, May 13th. Barclays increased their price target on Tyler Technologies from $695.00 to $715.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Piper Sandler reduced their price objective 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. Wall Street Zen cut Tyler Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Finally, Cantor Fitzgerald initiated coverage on Tyler Technologies in a research note on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 target price for the company. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $688.27.

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.