CX Institutional Takes Position in Tyler Technologies, Inc. (NYSE:TYL)

CX Institutional bought a new stake in shares of Tyler Technologies, Inc. (NYSE:TYL) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 303 shares of the technology company’s stock, valued at approximately $176,000.

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

Insider Transactions at Tyler Technologies

In other news, CFO Brian K. Miller sold 1,044 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $587.20, for a total transaction of $613,036.80. Following the transaction, the chief financial officer now owns 14,972 shares of the company’s stock, valued at approximately $8,791,558.40. This represents a 6.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John S. Marr, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $558.86, for a total value of $2,794,300.00. Following the sale, the insider now directly owns 6,983 shares in the company, valued at approximately $3,902,519.38. The trade was a 41.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,300 shares of company stock valued at $14,480,366. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TYL has been the topic of several recent research reports. Cantor Fitzgerald initiated coverage on Tyler Technologies in a report on Tuesday, June 3rd. They set a “neutral” rating and a $600.00 price target on the stock. DA Davidson decreased their price target on Tyler Technologies from $595.00 to $570.00 and set a “neutral” rating on the stock in a report on Friday, April 25th. Needham & Company LLC restated a “buy” rating and set a $750.00 price target on shares of Tyler Technologies in a report on Tuesday, May 13th. Wells Fargo & Company decreased their price target on Tyler Technologies from $640.00 to $610.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Finally, Robert W. Baird decreased their price target on Tyler Technologies from $785.00 to $700.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $680.50.

Tyler Technologies Price Performance

TYL opened at $580.06 on Monday. Tyler Technologies, Inc. has a 12-month low of $458.50 and a 12-month high of $661.31. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The business’s fifty day simple moving average is $564.19 and its 200-day simple moving average is $584.27. The company has a market capitalization of $25.01 billion, a price-to-earnings ratio of 95.72, a PEG ratio of 4.93 and a beta of 0.84.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share (EPS) for the quarter, topping 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 business had revenue of $562.43 million for the quarter, compared to the consensus estimate of $556.45 million. During the same quarter in the prior year, the company earned $2.20 EPS. The business’s revenue was up 10.3% compared to the same quarter last year. On average, equities research analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

About Tyler Technologies

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.