Benjamin Edwards Inc. Raises Position in Tyler Technologies, Inc. (NYSE:TYL)

Key Points

• Benjamin Edwards Inc. increased its stake in Tyler Technologies by 51.6% in Q1, now owning 2,313 shares worth approximately $1.35 million.
• Director Brenda A. Cline sold 2,500 shares for a total of $1.44 million, while CEO H Lynn Moore, Jr. sold 5,250 shares for about $3.05 million.
• Analysts have mixed ratings on Tyler Technologies, with price targets ranging from $600 to $715, resulting in a consensus rating of "Moderate Buy".

Benjamin Edwards Inc. lifted its stake in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 51.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,313 shares of the technology company's stock after purchasing an additional 787 shares during the quarter. Benjamin Edwards Inc.'s holdings in Tyler Technologies were worth $1,345,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Tyler Technologies by 2.8% in the first quarter. Vanguard Group Inc. now owns 5,459,163 shares of the technology company's stock valued at $3,173,903,000 after buying an additional 148,762 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Tyler Technologies by 6.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 998,927 shares of the technology company's stock valued at $580,766,000 after acquiring an additional 59,554 shares during the period. GAMMA Investing LLC boosted its position in Tyler Technologies by 57,694.7% in the first quarter. GAMMA Investing LLC now owns 878,480 shares of the technology company's stock worth $510,739,000 after purchasing an additional 876,960 shares during the last quarter. Northern Trust Corp boosted its position in Tyler Technologies by 13.9% in the fourth quarter. Northern Trust Corp now owns 497,367 shares of the technology company's stock worth $286,802,000 after purchasing an additional 60,654 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Tyler Technologies by 3.1% in the first quarter. JPMorgan Chase & Co. now owns 480,085 shares of the technology company's stock worth $279,117,000 after purchasing an additional 14,219 shares during the last quarter. 93.30% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Brenda A. Cline sold 2,500 shares of the business's stock in a transaction dated 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 sale, the director directly owned 2,519 shares in the company, valued at approximately $1,454,495.79. The trade was a 49.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John S. Marr, Jr. sold 4,000 shares of the business's stock in a transaction dated 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 completion of the sale, the insider owned 6,983 shares in the company, valued at $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 30,602 shares of company stock worth $17,747,049. 1.10% of the stock is currently owned by insiders.

Tyler Technologies Stock Performance

Shares of TYL stock traded down $7.41 during mid-day trading on Thursday, hitting $572.89. The company's stock had a trading volume of 223,916 shares, compared to its average volume of 391,850. Tyler Technologies, Inc. has a 52-week low of $513.52 and a 52-week high of $661.31. The business has a 50-day moving average price of $577.13 and a 200 day moving average price of $578.87. The stock has a market cap of $24.78 billion, a price-to-earnings ratio of 81.84, a PEG ratio of 4.46 and a beta of 0.85.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.91 EPS for the quarter, topping the consensus estimate of $2.78 by $0.13. Tyler Technologies had a return on equity of 10.34% and a net margin of 13.66%. The company had revenue of $584.01 million during the quarter, compared to analyst estimates of $587.59 million. During the same quarter in the previous year, the company posted $2.40 earnings per share. Tyler Technologies's revenue was up 10.2% compared to the same quarter last year. Equities research analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on TYL. Robert W. Baird cut their price objective 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. Needham & Company LLC reiterated a "buy" rating and issued a $750.00 target price on shares of Tyler Technologies in a research report on Tuesday, May 13th. Wall Street Zen lowered Tyler Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Barclays lifted their price objective on Tyler Technologies from $695.00 to $715.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, Piper Sandler cut their price objective 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. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $688.27.

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.