Adage Capital Partners GP L.L.C. Buys 7,300 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Adage Capital Partners GP L.L.C. grew its position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 20.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,500 shares of the technology company's stock after acquiring an additional 7,300 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.10% of Tyler Technologies worth $24,507,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Larson Financial Group LLC boosted its stake in Tyler Technologies by 221.4% during the 4th quarter. Larson Financial Group LLC now owns 45 shares of the technology company's stock valued at $26,000 after purchasing an additional 31 shares during the period. Sierra Ocean LLC acquired a new position in shares of Tyler Technologies during the fourth quarter worth approximately $32,000. Brown Brothers Harriman & Co. grew its holdings in Tyler Technologies by 300.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company's stock worth $32,000 after buying an additional 42 shares in the last quarter. OFI Invest Asset Management bought a new position in Tyler Technologies in the 4th quarter worth approximately $41,000. Finally, Smithfield Trust Co increased its position in Tyler Technologies by 55.6% in the 4th quarter. Smithfield Trust Co now owns 84 shares of the technology company's stock valued at $48,000 after acquiring an additional 30 shares during the period. Institutional investors own 93.30% of the company's stock.

Insider Buying and Selling

In related news, CEO H Lynn Moore, Jr. sold 6,514 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 75,734 shares in the company, valued at approximately $46,772,561.06. This trade represents a 7.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian K. Miller sold 1,550 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $613.58, for a total value of $951,049.00. Following the sale, the chief financial officer now owns 14,026 shares of the company's stock, valued at approximately $8,606,073.08. This represents a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,064 shares of company stock worth $8,688,030. Corporate insiders own 1.10% of the company's stock.

Tyler Technologies Stock Down 0.4 %

Shares of TYL traded down $2.04 during mid-day trading on Thursday, reaching $541.26. The company's stock had a trading volume of 74,666 shares, compared to its average volume of 257,271. The business has a fifty day moving average of $571.58 and a 200 day moving average of $592.73. The company has a market cap of $23.34 billion, a price-to-earnings ratio of 89.32, a price-to-earnings-growth ratio of 4.93 and a beta of 0.84. Tyler Technologies, Inc. has a 1 year low of $452.57 and a 1 year high of $661.31. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL - Get Free Report) last released 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. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. The company had revenue of $562.43 million during the quarter, compared to analyst estimates of $556.45 million. During the same quarter in the prior year, the company earned $2.20 earnings per share. The company's revenue for the quarter was up 10.3% on a year-over-year basis. As a group, analysts forecast that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on TYL shares. Piper Sandler cut their target price 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. Barclays dropped their price objective on Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Truist Financial reaffirmed a "buy" rating and issued a $775.00 price target (up previously from $685.00) on shares of Tyler Technologies in a report on Friday, February 14th. The Goldman Sachs Group raised their price objective on Tyler Technologies from $660.00 to $728.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. Finally, StockNews.com raised Tyler Technologies from a "hold" rating to a "buy" rating in a research note on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Tyler Technologies has an average rating of "Moderate Buy" and a consensus target price 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.