Wealthquest Corp Invests $1.07 Million in Tyler Technologies, Inc. (NYSE:TYL)

Wealthquest Corp purchased a new position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,833 shares of the technology company's stock, valued at approximately $1,066,000.

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Tyler Technologies during the fourth quarter worth $528,465,000. GAMMA Investing LLC increased its position in Tyler Technologies by 57,694.7% during the first quarter. GAMMA Investing LLC now owns 878,480 shares of the technology company's stock worth $510,739,000 after acquiring an additional 876,960 shares during the period. Raymond James Financial Inc. acquired a new stake in Tyler Technologies in the 4th quarter worth about $159,947,000. Wealthfront Advisers LLC boosted its holdings in Tyler Technologies by 8,973.6% in the 4th quarter. Wealthfront Advisers LLC now owns 154,433 shares of the technology company's stock valued at $89,052,000 after purchasing an additional 152,731 shares during the period. Finally, Los Angeles Capital Management LLC grew its position in shares of Tyler Technologies by 2,291.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 106,118 shares of the technology company's stock worth $61,192,000 after purchasing an additional 101,681 shares in the last quarter. 93.30% of the stock is currently owned by institutional investors.

Tyler Technologies Price Performance

Shares of Tyler Technologies stock traded down $6.68 during trading on Wednesday, hitting $581.95. The company's stock had a trading volume of 297,347 shares, compared to its average volume of 262,519. The stock has a market cap of $25.10 billion, a price-to-earnings ratio of 87.64, a price-to-earnings-growth ratio of 4.53 and a beta of 0.85. Tyler Technologies, Inc. has a 52 week low of $484.05 and a 52 week high of $661.31. The stock has a 50-day moving average price of $566.55 and a two-hundred day moving average price of $582.16.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TYL shares. Wells Fargo & Company dropped their price target on shares of Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Wall Street Zen downgraded Tyler Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Needham & Company LLC restated a "buy" rating and set a $750.00 price objective on shares of Tyler Technologies in a research note on Tuesday, May 13th. Piper Sandler cut their target price on Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Finally, Robert W. Baird reduced their target price on Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $680.50.

Insider Activity

In related news, CEO H Lynn Moore, Jr. sold 5,250 shares of the business's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $585.18, for a total transaction of $3,072,195.00. Following the transaction, the chief executive officer now directly owns 81,775 shares in the company, valued at approximately $47,853,094.50. The trade was a 6.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brian K. Miller sold 1,044 shares of Tyler Technologies stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $587.20, for a total transaction of $613,036.80. Following the transaction, the chief financial officer now directly owns 14,972 shares in the company, valued at approximately $8,791,558.40. This represents a 6.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,500 shares of company stock worth $15,177,230 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Tyler Technologies 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.