Wasatch Advisors LP Has $1.27 Million Position in Tyler Technologies, Inc. (NYSE:TYL)

Wasatch Advisors LP lifted its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 68.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,982 shares of the technology company’s stock after purchasing an additional 1,207 shares during the quarter. Wasatch Advisors LP’s holdings in Tyler Technologies were worth $1,267,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kapitalo Investimentos Ltda bought a new position in shares of Tyler Technologies during the 4th quarter worth about $26,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Tyler Technologies in the 4th quarter valued at about $31,000. Headlands Technologies LLC bought a new position in Tyler Technologies in the 4th quarter valued at about $40,000. Lindbrook Capital LLC lifted its position in Tyler Technologies by 50.6% in the 4th quarter. Lindbrook Capital LLC now owns 116 shares of the technology company’s stock valued at $49,000 after acquiring an additional 39 shares in the last quarter. Finally, Chilton Capital Management LLC bought a new position in Tyler Technologies in the 4th quarter valued at about $52,000. Institutional investors own 93.30% of the company’s stock.

Tyler Technologies Stock Performance

Shares of TYL stock traded up $9.48 during trading hours on Tuesday, hitting $509.00. 189,194 shares of the company were exchanged, compared to its average volume of 221,930. The firm has a fifty day simple moving average of $480.18 and a 200 day simple moving average of $443.12. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.20. Tyler Technologies, Inc. has a 52-week low of $361.16 and a 52-week high of $519.44. The stock has a market capitalization of $21.61 billion, a price-to-earnings ratio of 115.16, a P/E/G ratio of 4.72 and a beta of 0.76.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $1.74 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.26. Tyler Technologies had a net margin of 9.50% and a return on equity of 9.35%. The business had revenue of $512.36 million during the quarter, compared to analyst estimates of $507.79 million. Research analysts predict that Tyler Technologies, Inc. will post 7.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TYL. Needham & Company LLC raised their price target on shares of Tyler Technologies from $500.00 to $600.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Piper Sandler reaffirmed an “overweight” rating and issued a $520.00 price target on shares of Tyler Technologies in a research report on Wednesday, April 24th. Oppenheimer raised their price target on shares of Tyler Technologies from $500.00 to $550.00 and gave the company an “outperform” rating in a research report on Wednesday, May 22nd. BTIG Research lifted their target price on shares of Tyler Technologies from $515.00 to $550.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Finally, Truist Financial reissued a “buy” rating and set a $560.00 target price (up previously from $510.00) on shares of Tyler Technologies in a research report on Thursday, May 23rd. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Tyler Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $519.09.

Insider Activity at Tyler Technologies

In other news, insider John S. Marr, Jr. sold 6,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $483.21, for a total transaction of $2,899,260.00. Following the completion of the transaction, the insider now directly owns 6,983 shares in the company, valued at approximately $3,374,255.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Brenda A. Cline sold 5,000 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $458.83, for a total transaction of $2,294,150.00. Following the completion of the transaction, the director now directly owns 1,358 shares in the company, valued at approximately $623,091.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $483.21, for a total transaction of $2,899,260.00. Following the sale, the insider now directly owns 6,983 shares of the company’s stock, valued at $3,374,255.43. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,241 shares of company stock worth $12,495,890. Corporate insiders own 1.50% of the company’s stock.

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.