922 Shares in Tyler Technologies, Inc. (NYSE:TYL) Acquired by Trek Financial LLC

Trek Financial LLC bought a new stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 922 shares of the technology company's stock, valued at approximately $536,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC increased its stake in Tyler Technologies by 221.4% in the 4th quarter. Larson Financial Group LLC now owns 45 shares of the technology company's stock worth $26,000 after buying an additional 31 shares during the period. Retirement Wealth Solutions LLC purchased a new position in Tyler Technologies in the 1st quarter worth about $26,000. Brown Brothers Harriman & Co. increased its stake in Tyler Technologies by 300.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company's stock worth $32,000 after buying an additional 42 shares during the period. Kapitalo Investimentos Ltda bought a new position in Tyler Technologies during the 4th quarter worth about $40,000. Finally, OFI Invest Asset Management bought a new position in Tyler Technologies during the 4th quarter worth about $41,000. Hedge funds and other institutional investors own 93.30% of the company's stock.

Tyler Technologies Stock Performance

Tyler Technologies stock traded down $8.35 during trading on Friday, reaching $551.56. The company had a trading volume of 243,002 shares, compared to its average volume of 266,275. The firm's 50-day simple moving average is $574.81 and its 200 day simple moving average is $579.74. Tyler Technologies, Inc. has a 1-year low of $513.52 and a 1-year high of $661.31. The firm has a market capitalization of $23.78 billion, a PE ratio of 83.07, a price-to-earnings-growth ratio of 4.31 and a beta of 0.84.

Tyler Technologies (NYSE:TYL - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $562.43 million for the quarter, compared to analysts' expectations of $556.45 million. During the same quarter last year, the company earned $2.20 EPS. The firm's revenue for the quarter was up 10.3% compared to the same quarter last year. Analysts anticipate that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Wall Street Analysts Forecast Growth

TYL has been the topic of several recent research reports. Cantor Fitzgerald initiated coverage on shares of Tyler Technologies in a report on Tuesday, June 3rd. They set a "neutral" rating and a $600.00 target price on the stock. Piper Sandler dropped their target price 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. Barclays dropped their target price on shares of Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Robert W. Baird dropped their target price on shares of Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Finally, Needham & Company LLC restated a "buy" rating and issued a $750.00 price target on shares of Tyler Technologies in a report on Tuesday, May 13th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $680.50.

Insider Activity

In other news, insider John S. Marr, Jr. sold 5,000 shares of the firm's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $558.86, for a total transaction of $2,794,300.00. Following the completion of the transaction, the insider directly owned 6,983 shares in the company, valued at $3,902,519.38. This trade represents a 41.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Brian K. Miller sold 3,333 shares of the business's stock in a transaction dated 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 owned 11,231 shares in the company, valued at $6,384,374.26. This trade represents a 22.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,500 shares of company stock worth $15,177,230. 1.10% of the stock is owned by insiders.

Tyler Technologies Company Profile

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.