Fred Alger Management LLC Grows Position in Tyler Technologies, Inc. (NYSE:TYL)

Fred Alger Management LLC grew its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 6.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,048 shares of the technology company’s stock after acquiring an additional 1,007 shares during the quarter. Fred Alger Management LLC’s holdings in Tyler Technologies were worth $9,951,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. APG Asset Management N.V. lifted its position in Tyler Technologies by 1.4% during the second quarter. APG Asset Management N.V. now owns 1,507,062 shares of the technology company’s stock valued at $706,994,000 after purchasing an additional 20,842 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Tyler Technologies by 4.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 904,175 shares of the technology company’s stock worth $527,785,000 after buying an additional 36,066 shares during the last quarter. Swedbank AB purchased a new stake in shares of Tyler Technologies during the 2nd quarter valued at $251,390,000. International Assets Investment Management LLC lifted its holdings in shares of Tyler Technologies by 252,047.5% during the 3rd quarter. International Assets Investment Management LLC now owns 307,620 shares of the technology company’s stock worth $179,564,000 after acquiring an additional 307,498 shares during the last quarter. Finally, EULAV Asset Management grew its position in Tyler Technologies by 3.0% in the third quarter. EULAV Asset Management now owns 228,984 shares of the technology company’s stock worth $133,663,000 after acquiring an additional 6,601 shares in the last quarter. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Tyler Technologies Price Performance

Shares of Tyler Technologies stock opened at $629.17 on Friday. The firm has a market cap of $26.93 billion, a PE ratio of 114.81, a price-to-earnings-growth ratio of 5.71 and a beta of 0.77. The company’s fifty day simple moving average is $599.13 and its two-hundred day simple moving average is $555.27. The company has a quick ratio of 1.21, a current 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 $637.53.

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on TYL. Robert W. Baird increased their target price on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. DA Davidson increased their price objective on Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Truist Financial reissued a “buy” rating and set a $685.00 price objective (up from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. Needham & Company LLC upped their target price on Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com raised shares of Tyler Technologies from a “hold” rating to a “buy” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $642.62.

Insider Buying and Selling

In other news, insider John S. Marr, Jr. sold 12,000 shares of Tyler Technologies stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the sale, the insider now owns 6,983 shares of the company’s stock, valued at approximately $4,285,187.78. The trade was a 63.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brian K. Miller sold 3,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $602.72, for a total transaction of $1,808,160.00. Following the transaction, the chief financial officer now owns 11,950 shares in the company, valued at $7,202,504. This represents a 20.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,100 shares of company stock valued at $22,309,090 over the last quarter. 2.20% of the stock is owned by company insiders.

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.