Squarepoint Ops LLC Acquires 65,911 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Squarepoint Ops LLC grew its stake in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 90.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 138,916 shares of the technology company's stock after buying an additional 65,911 shares during the period. Squarepoint Ops LLC owned approximately 0.32% of Tyler Technologies worth $80,105,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in Tyler Technologies during the fourth quarter worth about $528,465,000. Van ECK Associates Corp grew its stake in Tyler Technologies by 1,991.8% during the fourth quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company's stock worth $317,486,000 after buying an additional 524,259 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Tyler Technologies during the fourth quarter worth about $159,947,000. JPMorgan Chase & Co. grew its stake in Tyler Technologies by 148.2% during the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company's stock worth $269,369,000 after buying an additional 275,511 shares during the last quarter. Finally, Seilern Investment Management Ltd bought a new stake in Tyler Technologies during the fourth quarter worth about $105,549,000. Institutional investors and hedge funds own 93.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wells Fargo & Company decreased 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 research note on Tuesday, April 22nd. Piper Sandler decreased their price target on shares of Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Robert W. Baird decreased their price target 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. Truist Financial reissued a "buy" rating and set a $775.00 price target (up from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. Finally, The Goldman Sachs Group increased their price target on shares of Tyler Technologies from $660.00 to $728.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Tyler Technologies has an average rating of "Moderate Buy" and a consensus target price of $687.82.

Tyler Technologies Trading Up 0.2%

TYL traded up $0.90 during mid-day trading on Thursday, hitting $567.72. The stock had a trading volume of 164,576 shares, compared to its average volume of 261,017. The stock's fifty day simple moving average is $561.82 and its 200-day simple moving average is $588.98. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21. The firm has a market capitalization of $24.48 billion, a price-to-earnings ratio of 93.68, a price-to-earnings-growth ratio of 4.93 and a beta of 0.88. 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 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 last year, the business posted $2.20 earnings per share. The firm's quarterly revenue was up 10.3% on a year-over-year basis. As a group, 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, Director Daniel M. Pope sold 365 shares of Tyler Technologies stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $550.00, for a total value of $200,750.00. Following the sale, the director now directly owns 2,853 shares in the company, valued at approximately $1,569,150. The trade was a 11.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brenda A. Cline sold 2,500 shares of Tyler Technologies stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $577.41, for a total transaction of $1,443,525.00. Following the completion of the transaction, the director now directly owns 2,519 shares of the company's stock, valued at approximately $1,454,495.79. This trade represents a 49.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,962 shares of company stock worth $13,702,451 over the last ninety days. Company insiders own 1.10% of the company's stock.

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.