Natixis Advisors LLC Buys 11,459 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Key Points

• Natixis Advisors LLC increased its holdings in Tyler Technologies by 28.6%, now owning 51,485 shares worth approximately $29.93 million as of its recent SEC filing.
• Tyler Technologies' stock is currently rated as a "Moderate Buy" with a consensus price target of $686.91, following various adjustments by analysts including Wells Fargo and DA Davidson.
• In Q2, Tyler Technologies reported $2.91 EPS, surpassing estimates, but its revenue of $584.01 million fell short of expectations.

Natixis Advisors LLC lifted its position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 28.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,485 shares of the technology company's stock after purchasing an additional 11,459 shares during the period. Natixis Advisors LLC owned 0.12% of Tyler Technologies worth $29,933,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Baader Bank Aktiengesellschaft boosted its holdings in shares of Tyler Technologies by 8.6% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 1,534 shares of the technology company's stock worth $877,000 after buying an additional 122 shares during the period. Arkadios Wealth Advisors grew its position in shares of Tyler Technologies by 80.9% in the first quarter. Arkadios Wealth Advisors now owns 3,504 shares of the technology company's stock valued at $2,037,000 after purchasing an additional 1,567 shares during the last quarter. Eastern Bank grew its position in shares of Tyler Technologies by 870.0% in the first quarter. Eastern Bank now owns 97 shares of the technology company's stock valued at $56,000 after purchasing an additional 87 shares during the last quarter. XTX Topco Ltd grew its position in shares of Tyler Technologies by 385.1% in the first quarter. XTX Topco Ltd now owns 5,137 shares of the technology company's stock valued at $2,987,000 after purchasing an additional 4,078 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd grew its position in shares of Tyler Technologies by 104.3% in the first quarter. Harvest Fund Management Co. Ltd now owns 2,135 shares of the technology company's stock valued at $1,236,000 after purchasing an additional 1,090 shares during the last quarter. 93.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TYL has been the topic of a number of analyst reports. Wells Fargo & Company decreased their target price on shares of Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Cantor Fitzgerald started coverage on Tyler Technologies in a report on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 price objective for the company. DA Davidson reduced their target price on Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. Wall Street Zen lowered shares of Tyler Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Finally, Robert W. Baird cut their price target on shares of Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $686.91.

Tyler Technologies Price Performance

Shares of NYSE TYL traded up $20.61 during mid-day trading on Monday, hitting $602.26. 337,178 shares of the stock traded hands, compared to its average volume of 372,659. The company has a market cap of $26.05 billion, a PE ratio of 86.04, a price-to-earnings-growth ratio of 4.50 and a beta of 0.85. Tyler Technologies, Inc. has a twelve month low of $513.52 and a twelve month high of $661.31. The firm has a 50 day simple moving average of $573.84 and a two-hundred day simple moving average of $578.46.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The technology company reported $2.91 EPS for the quarter, beating analysts' consensus estimates of $2.78 by $0.13. Tyler Technologies had a return on equity of 10.34% and a net margin of 13.66%. The firm had revenue of $584.01 million for the quarter, compared to analyst estimates of $587.59 million. During the same period last year, the firm posted $2.40 earnings per share. The business's revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities research analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Brenda A. Cline sold 2,500 shares of Tyler Technologies stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $577.41, for a total transaction of $1,443,525.00. Following the sale, the director directly owned 2,519 shares of the company's stock, valued at approximately $1,454,495.79. This trade represents a 49.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John S. Marr, Jr. sold 4,000 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $568.66, for a total value of $2,274,640.00. Following the transaction, the insider directly owned 6,983 shares of the company's stock, valued at approximately $3,970,952.78. This represents a 36.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,385 shares of company stock valued at $18,025,522. 1.10% of the stock is currently owned by company 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.