Y Intercept Hong Kong Ltd Acquires New Shares in Tyler Technologies, Inc. (NYSE:TYL)

Key Points

• Y Intercept Hong Kong Ltd has made a new investment in Tyler Technologies, acquiring 595 shares valued at approximately $346,000 during the first quarter of the year.
• Multiple institutional investors have also increased or acquired stakes in Tyler Technologies, leading to 93.30% of the company's stock being owned by institutional investors and hedge funds.
• Analysts have recently downgraded Tyler Technologies' ratings and revised price targets, with a current consensus rating of "Moderate Buy" and an average target price of $685.09.

Y Intercept Hong Kong Ltd bought a new position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 595 shares of the technology company's stock, valued at approximately $346,000.

Several other institutional investors also recently modified their holdings of TYL. Retirement Wealth Solutions LLC bought a new stake in Tyler Technologies during the first quarter valued at $26,000. Mowery & Schoenfeld Wealth Management LLC boosted its position 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 acquiring an additional 41 shares during the last quarter. Brown Brothers Harriman & Co. boosted its position 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 acquiring an additional 42 shares during the last quarter. Cornerstone Planning Group LLC boosted its position 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 acquiring an additional 42 shares during the last quarter. Finally, Kapitalo Investimentos Ltda bought a new stake in Tyler Technologies during the fourth quarter valued at $40,000. Institutional investors own 93.30% of the company's stock.

Tyler Technologies Trading Down 0.1%

NYSE TYL traded down $0.67 during trading hours on Friday, hitting $583.89. The company's stock had a trading volume of 594,905 shares, compared to its average volume of 291,418. Tyler Technologies, Inc. has a 52 week low of $513.52 and a 52 week high of $661.31. The company has a market capitalization of $25.18 billion, a PE ratio of 83.41, a price-to-earnings-growth ratio of 4.33 and a beta of 0.84. The company's 50-day simple moving average is $573.50 and its two-hundred day simple moving average is $578.30.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The technology company reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.78 by $0.13. Tyler Technologies had a net margin of 13.66% and a return on equity of 10.52%. The business had revenue of $584.01 million for the quarter, compared to analysts' expectations of $587.59 million. During the same quarter last year, the firm earned $2.40 EPS. The firm's revenue for the quarter was up 10.2% compared to the same quarter last year. Research analysts anticipate that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Insider Activity at Tyler Technologies

In other news, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $573.60, for a total transaction of $215,100.00. Following the completion of the sale, the insider owned 247 shares in the company, valued at $141,679.20. This trade represents a 60.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 sale, the director owned 2,519 shares of the company's stock, 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. Insiders have sold a total of 26,135 shares of company stock worth $14,976,480 over the last 90 days. Corporate insiders own 1.10% of the company's stock.

Analyst Ratings Changes

TYL has been the topic of a number of research analyst reports. Robert W. Baird cut 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 report on Friday, April 25th. Wells Fargo & Company dropped 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 report on Tuesday, April 22nd. DA Davidson dropped their price objective on shares of Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. Barclays upped their price objective on shares of Tyler Technologies from $695.00 to $715.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Wall Street Zen lowered shares of Tyler Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Tyler Technologies currently has an average rating of "Moderate Buy" and an average price target of $686.91.

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.