First Trust Advisors LP Buys 15,068 Shares of Tyler Technologies, Inc. (NYSE:TYL)

First Trust Advisors LP raised its position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 31.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,218 shares of the technology company's stock after purchasing an additional 15,068 shares during the period. First Trust Advisors LP owned 0.15% of Tyler Technologies worth $36,454,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Tyler Technologies by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 5,310,401 shares of the technology company's stock worth $3,062,190,000 after acquiring an additional 62,420 shares in the last quarter. Geode Capital Management LLC boosted its position in Tyler Technologies by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 1,136,734 shares of the technology company's stock worth $654,406,000 after purchasing an additional 27,826 shares during the period. Franklin Resources Inc. grew its holdings in Tyler Technologies by 7.9% during the fourth quarter. Franklin Resources Inc. now owns 984,615 shares of the technology company's stock valued at $567,768,000 after purchasing an additional 71,869 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Tyler Technologies by 3.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 939,373 shares of the technology company's stock valued at $541,680,000 after purchasing an additional 35,198 shares during the period. Finally, Norges Bank acquired a new stake in shares of Tyler Technologies in the fourth quarter worth $528,465,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Tyler Technologies Price Performance

Shares of NYSE:TYL traded up $8.96 during midday trading on Wednesday, reaching $543.11. 569,194 shares of the company's stock were exchanged, compared to its average volume of 257,986. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. The company's 50 day simple moving average is $571.58 and its two-hundred day simple moving average is $592.73. Tyler Technologies, Inc. has a 12 month low of $452.57 and a 12 month high of $661.31. The firm has a market capitalization of $23.41 billion, a PE ratio of 89.62, a price-to-earnings-growth ratio of 4.93 and a beta of 0.84.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $562.43 million during the quarter, compared to analysts' expectations of $556.45 million. During the same quarter last year, the company earned $2.20 earnings per share. The company's revenue for the quarter was up 10.3% compared to the same quarter last year. Equities research analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider John S. Marr, Jr. sold 6,000 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the completion of the sale, the insider now directly owns 6,983 shares of the company's stock, valued at $4,322,477. This trade represents a 46.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the sale, the chief executive officer now directly owns 75,734 shares in the company, valued at approximately $46,772,561.06. This represents a 7.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,064 shares of company stock worth $8,688,030 over the last three months. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TYL has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Tyler Technologies from a "hold" rating to a "buy" rating in a research note on Thursday, April 24th. The Goldman Sachs Group raised their price target on Tyler Technologies from $660.00 to $728.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. Barclays cut their price objective on Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Robert W. Baird lowered 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. Finally, Needham & Company LLC reiterated a "buy" rating and set a $750.00 price target on shares of Tyler Technologies in a report on Thursday, April 24th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $674.67.

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.