Trek Financial LLC Makes New Investment in Tyler Technologies, Inc. (NYSE:TYL)

Trek Financial LLC bought a new stake in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 922 shares of the technology company's stock, valued at approximately $536,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Larson Financial Group LLC grew its position in Tyler Technologies by 221.4% during the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company's stock valued at $26,000 after buying an additional 31 shares during the period. Retirement Wealth Solutions LLC acquired a new position in shares of Tyler Technologies during the first quarter worth about $26,000. Brown Brothers Harriman & Co. grew its position in shares of Tyler Technologies by 300.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company's stock worth $32,000 after buying an additional 42 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in Tyler Technologies during the fourth quarter worth approximately $40,000. Finally, OFI Invest Asset Management purchased a new stake in Tyler Technologies in the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 93.30% of the company's stock.

Tyler Technologies Stock Down 0.6%

Tyler Technologies stock opened at $585.86 on Wednesday. The company has a market capitalization of $25.26 billion, a PE ratio of 88.23, a P/E/G ratio of 4.60 and a beta of 0.84. The firm has a fifty day simple moving average of $573.64 and a two-hundred day simple moving average of $580.43. Tyler Technologies, Inc. has a twelve month low of $503.54 and a twelve month high of $661.31.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 earnings per share for the quarter, topping analysts' consensus estimates of $2.56 by $0.22. Tyler Technologies had a net margin of 13.23% and a return on equity of 10.29%. The business had revenue of $562.43 million for the quarter, compared to analysts' expectations of $556.45 million. During the same quarter in the prior year, the company earned $2.20 earnings per share. The business's revenue was up 10.3% compared to the same quarter last year. As a group, equities analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

TYL has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price objective on Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Wall Street Zen downgraded Tyler Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Needham & Company LLC reiterated a "buy" rating and set a $750.00 target price on shares of Tyler Technologies in a report on Tuesday, May 13th. Barclays lowered their price target on Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Finally, DA Davidson reduced their price objective on Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $680.50.

Insider Activity

In related news, CEO H Lynn Moore, Jr. sold 5,250 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $585.18, for a total value of $3,072,195.00. Following the completion of the transaction, the chief executive officer owned 81,775 shares of the company's stock, valued at $47,853,094.50. The trade was a 6.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Brenda A. Cline sold 2,500 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $577.41, for a total value of $1,443,525.00. Following the completion of the transaction, the director directly owned 2,519 shares in the company, valued at $1,454,495.79. This represents a 49.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,500 shares of company stock valued at $15,177,230 in the last quarter. 1.10% of the stock is currently owned by company insiders.

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.

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