JPMorgan Chase & Co. Purchases 275,511 Shares of Tyler Technologies, Inc. (NYSE:TYL)

JPMorgan Chase & Co. boosted its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 148.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 461,469 shares of the technology company’s stock after purchasing an additional 275,511 shares during the period. JPMorgan Chase & Co. owned about 1.08% of Tyler Technologies worth $269,369,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TYL. Ashton Thomas Securities LLC purchased a new stake in shares of Tyler Technologies in the third quarter valued at approximately $27,000. International Assets Investment Management LLC purchased a new stake in shares of Tyler Technologies in the 2nd quarter worth $61,000. Tobam bought a new position in shares of Tyler Technologies during the 3rd quarter worth $78,000. Quarry LP purchased a new position in shares of Tyler Technologies during the third quarter valued at $78,000. Finally, Brooklyn Investment Group bought a new stake in shares of Tyler Technologies in the third quarter valued at about $79,000. 93.30% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 6,752 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $613.75, for a total transaction of $4,144,040.00. Following the transaction, the chief financial officer now owns 11,918 shares in the company, valued at approximately $7,314,672.50. This represents a 36.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $605.82, for a total value of $3,786,375.00. Following the completion of the sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at $45,436,500. This trade represents a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,252 shares of company stock valued at $26,096,928 in the last ninety days. 2.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. StockNews.com lowered shares of Tyler Technologies from a “buy” rating to a “hold” rating in a report on Friday, December 6th. DA Davidson upped their target price on Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. JMP Securities boosted their price target on Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a research report on Friday, October 25th. Needham & Company LLC raised their price objective on Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Oppenheimer boosted their target price on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Tyler Technologies has an average rating of “Moderate Buy” and a consensus target price of $642.62.

Tyler Technologies Stock Performance

Shares of NYSE TYL opened at $579.04 on Tuesday. The company has a 50 day simple moving average of $609.99 and a two-hundred day simple moving average of $575.87. The stock has a market cap of $24.78 billion, a price-to-earnings ratio of 105.66, a PEG ratio of 5.54 and a beta of 0.76. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies, Inc. has a 12 month low of $397.80 and a 12 month high of $638.56.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. The company had revenue of $543.34 million during the quarter, compared to the consensus estimate of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.66 earnings per share. As a group, analysts predict that Tyler Technologies, Inc. will post 7.36 earnings per share for the current year.

Tyler Technologies Company 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.