Two Sigma Investments LP Makes New $1.94 Million Investment in Tyler Technologies, Inc. (NYSE:TYL)

Two Sigma Investments LP bought a new position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,363 shares of the technology company's stock, valued at approximately $1,939,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Tyler Technologies by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 5,310,401 shares of the technology company's stock valued at $3,062,190,000 after acquiring an additional 62,420 shares in the last quarter. Geode Capital Management LLC raised its stake in Tyler Technologies by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 1,136,734 shares of the technology company's stock valued at $654,406,000 after buying an additional 27,826 shares in the last quarter. Franklin Resources Inc. raised its stake in Tyler Technologies by 7.9% in the fourth quarter. Franklin Resources Inc. now owns 984,615 shares of the technology company's stock valued at $567,768,000 after buying an additional 71,869 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Tyler Technologies by 3.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 939,373 shares of the technology company's stock valued at $541,680,000 after buying an additional 35,198 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Tyler Technologies during the 4th quarter worth about $528,465,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TYL has been the topic of a number of research analyst reports. Wells Fargo & Company cut their price objective on shares of Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Cantor Fitzgerald assumed coverage on shares of Tyler Technologies in a research note on Tuesday. They set a "neutral" rating and a $600.00 price target on the stock. The Goldman Sachs Group lifted their price target on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. Piper Sandler cut their target price 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. Finally, Robert W. Baird cut their price target on Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $680.50.

Tyler Technologies Stock Performance

TYL traded up $7.01 during trading on Wednesday, hitting $581.02. The stock had a trading volume of 201,652 shares, compared to its average volume of 276,466. 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 capitalization of $25.06 billion, a P/E ratio of 95.88, a PEG ratio of 4.93 and a beta of 0.88. The company's 50-day moving average price is $561.06 and its 200 day moving average price is $586.32. Tyler Technologies, Inc. has a twelve month low of $458.50 and a twelve month high of $661.31.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its quarterly earnings results 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 net margin of 12.30% and a return on equity of 10.15%. The business had revenue of $562.43 million for the quarter, compared to analyst estimates of $556.45 million. During the same period in the previous year, the business posted $2.20 earnings per share. The business's revenue was up 10.3% compared to the same quarter last year. On average, equities research analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Insider Buying and Selling

In other Tyler Technologies news, CFO Brian K. Miller sold 1,033 shares of the company's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $557.45, for a total transaction of $575,845.85. Following the transaction, the chief financial officer now directly owns 13,028 shares in the company, valued at approximately $7,262,458.60. This represents a 7.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John S. Marr, Jr. sold 6,000 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the transaction, the insider now owns 6,983 shares in the company, valued at $4,322,477. The trade was a 46.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,231 shares of company stock valued at $12,897,738 over the last quarter. Company insiders own 1.10% of the company's stock.

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.