Sherbrooke Park Advisers LLC Makes New Investment in Tyler Technologies, Inc. (NYSE:TYL)

Sherbrooke Park Advisers LLC acquired a new position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,105 shares of the technology company's stock, valued at approximately $637,000.

Several other hedge funds also recently added to or reduced their stakes in TYL. Norges Bank acquired a new position in Tyler Technologies during the 4th quarter worth $528,465,000. Van ECK Associates Corp lifted its stake in Tyler Technologies by 1,991.8% during the fourth quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company's stock worth $317,486,000 after purchasing an additional 524,259 shares during the last quarter. Raymond James Financial Inc. bought a new position in Tyler Technologies during the fourth quarter worth $159,947,000. JPMorgan Chase & Co. lifted its stake in Tyler Technologies by 148.2% during the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company's stock worth $269,369,000 after purchasing an additional 275,511 shares during the last quarter. Finally, Seilern Investment Management Ltd bought a new position in Tyler Technologies during the fourth quarter worth $105,549,000. 93.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, Director Daniel M. Pope sold 365 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $550.00, for a total value of $200,750.00. Following the transaction, the director now owns 2,853 shares of the company's stock, valued at approximately $1,569,150. This represents a 11.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brenda A. Cline sold 2,500 shares of Tyler Technologies 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 now directly owns 2,519 shares in the company, valued at approximately $1,454,495.79. This trade represents a 49.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,962 shares of company stock worth $13,702,451 in the last 90 days. Corporate insiders own 1.10% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on TYL. Piper Sandler reduced their price objective on Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Truist Financial restated a "buy" rating and set a $775.00 price objective (up from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. Wall Street Zen cut Tyler Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday. Needham & Company LLC reissued a "buy" rating and issued a $750.00 price target on shares of Tyler Technologies in a report on Tuesday, May 13th. Finally, The Goldman Sachs Group raised their price target on Tyler Technologies from $660.00 to $728.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Tyler Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $687.82.

Tyler Technologies Stock Performance

Shares of NYSE:TYL traded down $0.04 during trading hours on Thursday, hitting $566.79. The stock had a trading volume of 56,238 shares, compared to its average volume of 276,360. The stock's fifty day simple moving average is $561.82 and its 200 day simple moving average is $588.98. Tyler Technologies, Inc. has a 1-year low of $458.50 and a 1-year high of $661.31. The firm has a market capitalization of $24.44 billion, a price-to-earnings ratio of 93.53, a PEG ratio of 4.93 and a beta of 0.88. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its 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 during the quarter, compared to analyst estimates of $556.45 million. Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. Tyler Technologies's revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.20 EPS. Sell-side analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal 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.