Davis R M Inc. Has $870,000 Stake in Tyler Technologies, Inc. (NYSE:TYL)

Davis R M Inc. decreased its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 16.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,490 shares of the technology company’s stock after selling 300 shares during the quarter. Davis R M Inc.’s holdings in Tyler Technologies were worth $870,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Independence Bank of Kentucky bought a new position in Tyler Technologies during the second quarter valued at about $25,000. Ashton Thomas Securities LLC acquired a new stake in shares of Tyler Technologies during the 3rd quarter worth approximately $27,000. Blue Trust Inc. increased its position in shares of Tyler Technologies by 329.4% during the second quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock valued at $37,000 after purchasing an additional 56 shares during the period. Lynx Investment Advisory acquired a new position in shares of Tyler Technologies in the second quarter valued at $38,000. Finally, International Assets Investment Management LLC bought a new position in Tyler Technologies in the second quarter worth $61,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

Tyler Technologies Stock Up 2.5 %

Shares of NYSE TYL opened at $624.16 on Tuesday. Tyler Technologies, Inc. has a 12-month low of $397.80 and a 12-month high of $631.43. The firm’s 50-day simple moving average is $595.22 and its 200 day simple moving average is $552.15. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18. The company has a market cap of $26.71 billion, a price-to-earnings ratio of 113.90, a price-to-earnings-growth ratio of 5.52 and a beta of 0.77.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.09. The company had revenue of $543.34 million for the quarter, compared to analyst estimates of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. Tyler Technologies’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.66 earnings per share. On average, research analysts expect that Tyler Technologies, Inc. will post 7.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TYL. StockNews.com lowered shares of Tyler Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Robert W. Baird increased their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Oppenheimer raised their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. JMP Securities upped their price objective on Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a research note on Friday, October 25th. Finally, Barclays raised their target price on Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $642.62.

Insider Activity

In other news, Director Glenn A. Carter sold 3,350 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $582.57, for a total value of $1,951,609.50. Following the transaction, the director now owns 2,654 shares of the company’s stock, valued at $1,546,140.78. This represents a 55.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brian K. Miller sold 2,500 shares of Tyler Technologies stock in a transaction on Friday, November 8th. The stock was sold at an average price of $624.41, for a total value of $1,561,025.00. Following the sale, the chief financial officer now directly owns 11,950 shares of the company’s stock, valued at approximately $7,461,699.50. This trade represents a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,600 shares of company stock valued at $16,412,595. Company insiders own 1.50% of the company’s stock.

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.