Twinbeech Capital LP Takes Position in Tyler Technologies, Inc. (NYSE:TYL)

Twinbeech Capital LP bought a new stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 58,771 shares of the technology company's stock, valued at approximately $33,890,000. Twinbeech Capital LP owned approximately 0.14% of Tyler Technologies as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Tyler Technologies by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 5,310,401 shares of the technology company's stock worth $3,062,190,000 after buying an additional 62,420 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Tyler Technologies by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 1,136,734 shares of the technology company's stock worth $654,406,000 after buying an additional 27,826 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Tyler Technologies by 7.9% during the 4th quarter. Franklin Resources Inc. now owns 984,615 shares of the technology company's stock worth $567,768,000 after buying an additional 71,869 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Tyler Technologies by 3.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 939,373 shares of the technology company's stock worth $541,680,000 after buying an additional 35,198 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Tyler Technologies during the 4th quarter worth about $528,465,000. Institutional investors and hedge funds own 93.30% of the company's stock.

Insider Buying and Selling

In related news, Director Brenda A. Cline sold 2,500 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $577.41, for a total value of $1,443,525.00. Following the transaction, the director now directly owns 2,519 shares in the company, valued at $1,454,495.79. This trade represents a 49.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies 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 transaction, the insider now owns 6,983 shares of the company's stock, valued at $4,322,477. This trade represents a 46.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,962 shares of company stock worth $13,702,451 in the last three months. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TYL shares. Wells Fargo & Company reduced their price objective on shares of Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Barclays lowered their price objective on shares of Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating on the stock 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. Robert W. Baird lowered their price objective on shares of Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Finally, Wall Street Zen cut shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $687.82.

Tyler Technologies Stock Up 0.2%

TYL stock traded up $0.90 during mid-day trading on Thursday, hitting $567.72. 164,576 shares of the company were exchanged, compared to its average volume of 261,017. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. The firm has a market cap of $24.48 billion, a P/E ratio of 93.68, a P/E/G ratio of 4.93 and a beta of 0.88. The firm's 50 day simple moving average is $561.82 and its 200 day simple moving average is $588.98. Tyler Technologies, Inc. has a 1-year low of $458.50 and a 1-year high of $661.31.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.56 by $0.22. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. The company had revenue of $562.43 million during the quarter, compared to analysts' expectations of $556.45 million. During the same quarter in the previous year, the company posted $2.20 earnings per share. The business's revenue was up 10.3% on a year-over-year basis. On average, sell-side analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

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.