Tyler Technologies, Inc. $TYL Shares Purchased by Comerica Bank

Comerica Bank lifted its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 67.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,571 shares of the technology company’s stock after buying an additional 11,889 shares during the period. Comerica Bank owned approximately 0.07% of Tyler Technologies worth $13,424,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Root Financial Partners LLC acquired a new position in shares of Tyler Technologies during the third quarter worth approximately $28,000. Salomon & Ludwin LLC increased its holdings in shares of Tyler Technologies by 6,100.0% during the fourth quarter. Salomon & Ludwin LLC now owns 62 shares of the technology company’s stock valued at $27,000 after purchasing an additional 61 shares during the period. Advisors Asset Management Inc. acquired a new position in shares of Tyler Technologies during the first quarter valued at $38,000. Geneos Wealth Management Inc. increased its holdings in shares of Tyler Technologies by 137.9% during the first quarter. Geneos Wealth Management Inc. now owns 69 shares of the technology company’s stock valued at $40,000 after purchasing an additional 40 shares during the period. Finally, Quent Capital LLC acquired a new position in shares of Tyler Technologies during the third quarter valued at $49,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tyler Technologies

In related news, COO Jeffrey David Puckett sold 5,174 shares of the firm’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $369.93, for a total transaction of $1,914,017.82. Following the completion of the transaction, the chief operating officer owned 7,754 shares of the company’s stock, valued at $2,868,437.22. This trade represents a 40.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Andrew D. Teed bought 1,600 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were purchased at an average cost of $309.91 per share, with a total value of $495,856.00. Following the purchase, the director directly owned 5,118 shares of the company’s stock, valued at approximately $1,586,119.38. This represents a 45.48% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have sold 7,298 shares of company stock valued at $2,658,721. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TYL shares. Piper Sandler reissued an “overweight” rating and set a $543.00 price target (down from $671.00) on shares of Tyler Technologies in a report on Friday, February 13th. TD Cowen lowered their price target on Tyler Technologies from $600.00 to $500.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Stifel Nicolaus lowered their price target on Tyler Technologies from $550.00 to $400.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Citizens Jmp reissued a “market outperform” rating and set a $500.00 price target on shares of Tyler Technologies in a report on Tuesday. Finally, Weiss Ratings lowered Tyler Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday. Twelve investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $466.29.

Tyler Technologies Stock Up 1.0%

Shares of TYL stock opened at $340.79 on Wednesday. The stock has a 50-day simple moving average of $341.27 and a 200 day simple moving average of $408.62. Tyler Technologies, Inc. has a fifty-two week low of $283.71 and a fifty-two week high of $621.34. The stock has a market capitalization of $14.47 billion, a P/E ratio of 47.33, a P/E/G ratio of 2.27 and a beta of 0.92.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, February 11th. The technology company reported $2.64 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.07). Tyler Technologies had a net margin of 13.53% and a return on equity of 10.42%. The firm had revenue of $575.18 million for the quarter, compared to the consensus estimate of $591.09 million. During the same period in the prior year, the business earned $2.43 EPS. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Tyler Technologies, Inc. will post 9.93 earnings per share for the current year.

Tyler Technologies Company Profile

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler’s product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.