Victory Capital Management Inc. Purchases 746 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Victory Capital Management Inc. grew its stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 2.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,437 shares of the technology company's stock after purchasing an additional 746 shares during the quarter. Victory Capital Management Inc. owned about 0.07% of Tyler Technologies worth $17,114,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Tyler Technologies by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 5,310,401 shares of the technology company's stock worth $3,062,190,000 after purchasing an additional 62,420 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Tyler Technologies by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 1,136,734 shares of the technology company's stock worth $654,406,000 after acquiring an additional 27,826 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Tyler Technologies by 6.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 998,927 shares of the technology company's stock worth $580,766,000 after acquiring an additional 59,554 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Tyler Technologies by 7.9% in the 4th quarter. Franklin Resources Inc. now owns 984,615 shares of the technology company's stock worth $567,768,000 after acquiring an additional 71,869 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Tyler Technologies in the 4th quarter worth about $528,465,000. 93.30% of the stock is currently owned by institutional investors.

Tyler Technologies Stock Down 0.8%

Shares of NYSE TYL traded down $4.40 during trading on Friday, reaching $555.52. 424,851 shares of the company traded hands, compared to its average volume of 270,467. The firm has a 50 day simple moving average of $574.26 and a 200-day simple moving average of $578.49. The stock has a market capitalization of $23.95 billion, a PE ratio of 83.66, a P/E/G ratio of 4.35 and a beta of 0.84. Tyler Technologies, Inc. has a 52-week low of $513.52 and a 52-week high of $661.31.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.56 by $0.22. The firm had revenue of $562.43 million for the quarter, compared to the consensus estimate of $556.45 million. Tyler Technologies had a net margin of 13.23% and a return on equity of 10.29%. The business's quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.20 EPS. As a group, research analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Analyst Ratings Changes

TYL has been the subject of several research reports. Wall Street Zen lowered shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Needham & Company LLC reiterated a "buy" rating and issued a $750.00 price target on shares of Tyler Technologies in a research note on Tuesday, May 13th. Barclays decreased their price target on shares of Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Robert W. Baird cut their price objective on shares of Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Finally, 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 research report on Tuesday, April 22nd. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $680.50.

Insider Activity

In related news, insider John S. Marr, Jr. sold 4,000 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $568.66, for a total value of $2,274,640.00. Following the transaction, the insider owned 6,983 shares of the company's stock, valued at approximately $3,970,952.78. This trade represents a 36.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Brenda A. Cline sold 2,500 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,500 shares of company stock worth $15,177,230. 1.10% of the stock is owned by corporate insiders.

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.