Tandem Investment Advisors Inc. Raises Stake in Tyler Technologies, Inc. (NYSE:TYL)

Tandem Investment Advisors Inc. grew its stake in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 22.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,794 shares of the technology company's stock after purchasing an additional 1,617 shares during the quarter. Tandem Investment Advisors Inc.'s holdings in Tyler Technologies were worth $5,113,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Larson Financial Group LLC lifted its stake in Tyler Technologies by 221.4% in the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company's stock worth $26,000 after acquiring an additional 31 shares during the period. Retirement Wealth Solutions LLC purchased a new stake in Tyler Technologies in the first quarter worth about $26,000. Brown Brothers Harriman & Co. lifted 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 worth $32,000 after acquiring an additional 42 shares during the period. Kapitalo Investimentos Ltda purchased a new stake in Tyler Technologies in the fourth quarter worth about $40,000. Finally, OFI Invest Asset Management purchased a new stake in Tyler Technologies in the fourth quarter worth about $41,000. 93.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TYL. DA Davidson lowered their price objective on shares of Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Needham & Company LLC reaffirmed a "buy" rating and issued a $750.00 price objective on shares of Tyler Technologies in a research note on Tuesday, May 13th. Wall Street Zen lowered shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Cantor Fitzgerald assumed coverage on shares of Tyler Technologies in a research note on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 price objective for the company. Finally, Piper Sandler reduced their target price on shares of Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $680.50.

Insider Activity at Tyler Technologies

In other news, CEO H Lynn Moore, Jr. sold 5,250 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $585.18, for a total transaction of $3,072,195.00. Following the transaction, the chief executive officer owned 81,775 shares in the company, valued at $47,853,094.50. This 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 hyperlink. Also, insider John S. Marr, Jr. sold 5,000 shares of the company's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $558.86, for a total transaction of $2,794,300.00. Following the transaction, the insider owned 6,983 shares in the company, valued at approximately $3,902,519.38. This trade represents a 41.73% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,500 shares of company stock worth $15,177,230. 1.10% of the stock is owned by insiders.

Tyler Technologies Stock Up 1.3%

Shares of TYL traded up $7.39 during mid-day trading on Friday, hitting $590.47. 173,785 shares of the company traded hands, compared to its average volume of 263,436. Tyler Technologies, Inc. has a 1-year low of $503.54 and a 1-year high of $661.31. The company has a market capitalization of $25.46 billion, a PE ratio of 88.93, a price-to-earnings-growth ratio of 4.61 and a beta of 0.84. The business has a 50 day moving average of $571.25 and a 200 day moving average of $580.67.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.22. Tyler Technologies had a net margin of 13.23% and a return on equity of 10.29%. The firm had revenue of $562.43 million for the quarter, compared to the consensus estimate of $556.45 million. During the same quarter in the prior year, the company posted $2.20 earnings per share. The company's revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, research analysts expect 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.