Sapient Capital LLC Acquires New Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Sapient Capital LLC bought a new stake in shares of Tyler Technologies, Inc. (NYSE:TYL) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 639 shares of the technology company’s stock, valued at approximately $267,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TYL. Norges Bank bought a new position in Tyler Technologies in the 4th quarter valued at about $164,642,000. Alliancebernstein L.P. lifted its position in Tyler Technologies by 26.3% in the fourth quarter. Alliancebernstein L.P. now owns 1,719,257 shares of the technology company’s stock worth $554,306,000 after purchasing an additional 357,779 shares during the period. Morgan Stanley increased its position in shares of Tyler Technologies by 21.1% during the 3rd quarter. Morgan Stanley now owns 1,015,713 shares of the technology company’s stock valued at $392,208,000 after purchasing an additional 177,242 shares during the period. Select Equity Group L.P. raised its stake in shares of Tyler Technologies by 101.0% in the 1st quarter. Select Equity Group L.P. now owns 327,305 shares of the technology company’s stock worth $116,075,000 after buying an additional 164,478 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Tyler Technologies by 122.1% in the first quarter. JPMorgan Chase & Co. now owns 213,701 shares of the technology company’s stock valued at $75,788,000 after buying an additional 117,500 shares during the period. 93.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and set a $490.00 target price on shares of Tyler Technologies in a report on Friday, February 16th. Piper Sandler increased their target price on shares of Tyler Technologies from $480.00 to $520.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Needham & Company LLC raised their target price on shares of Tyler Technologies from $475.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. JPMorgan Chase & Co. upped their price target on Tyler Technologies from $500.00 to $526.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. Finally, DA Davidson raised their price objective on Tyler Technologies from $412.00 to $434.00 and gave the stock a “neutral” rating in a research note on Thursday, February 22nd. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $457.86.

Insider Buying and Selling

In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,500 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $437.49, for a total value of $2,843,685.00. Following the completion of the sale, the insider now owns 6,400 shares in the company, valued at approximately $2,799,936. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider John S. Marr, Jr. sold 6,500 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $437.49, for a total value of $2,843,685.00. Following the transaction, the insider now directly owns 6,400 shares of the company’s stock, valued at $2,799,936. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO H Lynn Moore, Jr. sold 7,500 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $435.19, for a total value of $3,263,925.00. Following the sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at $32,639,250. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,608 shares of company stock worth $21,974,819. 1.50% of the stock is owned by company insiders.

Tyler Technologies Stock Performance

Shares of Tyler Technologies stock opened at $400.68 on Tuesday. The stock has a market cap of $17.00 billion, a PE ratio of 103.00, a price-to-earnings-growth ratio of 4.07 and a beta of 0.81. Tyler Technologies, Inc. has a 12 month low of $361.16 and a 12 month high of $454.74. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.20. The business has a fifty day simple moving average of $426.13 and a 200-day simple moving average of $413.55.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, February 14th. The technology company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.06. Tyler Technologies had a return on equity of 8.85% and a net margin of 8.50%. The firm had revenue of $480.94 million during the quarter, compared to analyst estimates of $483.34 million. On average, sell-side analysts anticipate that Tyler Technologies, Inc. will post 6.77 EPS 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.