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

Key Points

• Wealthquest Corp acquired a new stake of 1,833 shares in Tyler Technologies, Inc. (NYSE: TYL), valued at approximately $1,066,000, according to their latest SEC filing.
• Several large investors significantly increased their stakes in Tyler Technologies, with GAMMA Investing LLC lifting its position by an astounding 57,694.7%.
• Analysts have issued mixed ratings on Tyler Technologies, with a consensus rating of "Moderate Buy" and an average target price of $685.09, despite some firms lowering their price targets.

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

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Retirement Wealth Solutions LLC purchased a new position in Tyler Technologies during the first quarter valued at approximately $26,000. Mowery & Schoenfeld Wealth Management LLC lifted its holdings in Tyler Technologies by 820.0% during the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company's stock valued at $27,000 after purchasing an additional 41 shares in the last quarter. Brown Brothers Harriman & Co. lifted its holdings in Tyler Technologies by 300.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company's stock valued at $32,000 after purchasing an additional 42 shares in the last quarter. Cornerstone Planning Group LLC lifted its holdings in Tyler Technologies by 221.1% during the first quarter. Cornerstone Planning Group LLC now owns 61 shares of the technology company's stock valued at $35,000 after purchasing an additional 42 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new position in Tyler Technologies during the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 93.30% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Robert W. Baird reduced 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. Piper Sandler reduced their price objective on shares of Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Wall Street Zen cut shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. DA Davidson reduced their price target on shares of Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Finally, Needham & Company LLC restated a "buy" rating and issued a $750.00 price target on shares of Tyler Technologies in a research report on Tuesday, May 13th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $686.91.

Insider Buying and Selling 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 transaction, the director owned 2,519 shares in the company, valued at approximately $1,454,495.79. This represents a 49.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $573.60, for a total transaction of $215,100.00. Following the completion of the transaction, the insider owned 247 shares in the company, valued at approximately $141,679.20. This trade represents a 60.29% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,135 shares of company stock valued at $14,976,480. 1.10% of the stock is currently owned by corporate insiders.

Tyler Technologies Trading Down 0.1%

Shares of TYL traded down $0.67 during trading hours on Friday, reaching $583.89. 594,905 shares of the company traded hands, compared to its average volume of 342,914. The firm has a market cap of $25.18 billion, a price-to-earnings ratio of 83.41, a PEG ratio of 4.56 and a beta of 0.84. Tyler Technologies, Inc. has a 12-month low of $513.52 and a 12-month high of $661.31. The stock's fifty day moving average price is $573.84 and its 200 day moving average price is $578.39.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its earnings results on Wednesday, July 30th. The technology company reported $2.91 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $587.59 million. During the same period in the previous year, the firm earned $2.40 earnings per share. The business's revenue was up 10.2% on a year-over-year basis. On average, research analysts forecast that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

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.