Charles Schwab Investment Management Inc. Grows Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Tyler Technologies by 3.9%, owning 0.70% of the company valued at approximately $176.2 million after acquiring additional shares.
• Tyler Technologies reported earnings of $2.91 per share for the last quarter, surpassing estimates, while its revenue was $584.01 million, slightly below expectations.
• Several analysts have adjusted their price targets for Tyler Technologies, with a current average target price of $688.27 and a consensus rating of "Moderate Buy."

Charles Schwab Investment Management Inc. increased its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 3.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 303,076 shares of the technology company's stock after buying an additional 11,288 shares during the period. Charles Schwab Investment Management Inc. owned 0.70% of Tyler Technologies worth $176,205,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of TYL. GAMMA Investing LLC lifted its stake in shares of Tyler Technologies by 57,694.7% during the 1st quarter. GAMMA Investing LLC now owns 878,480 shares of the technology company's stock worth $510,739,000 after buying an additional 876,960 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Tyler Technologies by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 5,459,163 shares of the technology company's stock valued at $3,173,903,000 after purchasing an additional 148,762 shares in the last quarter. Marshall Wace LLP boosted its position in Tyler Technologies by 897.6% during the 4th quarter. Marshall Wace LLP now owns 112,210 shares of the technology company's stock worth $64,705,000 after buying an additional 100,962 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Tyler Technologies by 52.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 283,449 shares of the technology company's stock worth $163,448,000 after purchasing an additional 97,718 shares during the period. Finally, TCW Group Inc. increased its stake in Tyler Technologies by 144.0% during the 1st quarter. TCW Group Inc. now owns 152,775 shares of the technology company's stock valued at $88,822,000 after purchasing an additional 90,172 shares in the last quarter. Institutional investors own 93.30% of the company's stock.

Insider Transactions at Tyler Technologies

In related news, Director Brenda A. Cline sold 2,500 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $577.41, for a total value of $1,443,525.00. Following the completion of the transaction, the director owned 2,519 shares of the company's stock, valued at $1,454,495.79. This 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, CEO H Lynn Moore, Jr. sold 5,250 shares of the firm's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $580.77, for a total transaction of $3,049,042.50. Following the completion of the sale, the chief executive officer owned 81,775 shares of the company's stock, valued at $47,492,466.75. The trade was a 6.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,352 shares of company stock valued at $14,655,376. 1.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TYL shares. Wells Fargo & Company lowered their price target 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. Barclays boosted their price target on Tyler Technologies from $695.00 to $715.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. DA Davidson set a $585.00 target price on Tyler Technologies and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Cantor Fitzgerald started coverage on Tyler Technologies in a research note on Tuesday, June 3rd. They set a "neutral" rating and a $600.00 price objective for the company. Finally, Needham & Company LLC reiterated a "buy" rating and set a $750.00 price target on shares of Tyler Technologies in a research report on Tuesday, May 13th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $688.27.

Tyler Technologies Stock Down 3.4%

TYL traded down $19.58 during trading on Tuesday, reaching $564.62. The stock had a trading volume of 341,294 shares, compared to its average volume of 387,879. The firm has a market capitalization of $24.43 billion, a price-to-earnings ratio of 80.66, a price-to-earnings-growth ratio of 4.49 and a beta of 0.85. Tyler Technologies, Inc. has a 1-year low of $513.52 and a 1-year high of $661.31. The stock has a 50 day moving average of $577.11 and a two-hundred day moving average of $579.10.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.78 by $0.13. Tyler Technologies had a net margin of 13.66% and a return on equity of 10.34%. The firm had revenue of $584.01 million during the quarter, compared to analysts' expectations of $587.59 million. During the same period in the prior year, the company posted $2.40 earnings per share. Tyler Technologies's revenue for the quarter was up 10.2% on a year-over-year basis. On average, research analysts forecast 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.