Headinvest LLC Invests $223,000 in Tyler Technologies, Inc. (NYSE:TYL)

Headinvest LLC acquired a new stake in Tyler Technologies, Inc. (NYSE:TYL) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 387 shares of the technology company’s stock, valued at approximately $223,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in Tyler Technologies during the fourth quarter worth about $528,465,000. Van ECK Associates Corp increased its stake in Tyler Technologies by 1,991.8% during the 4th quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock worth $317,486,000 after buying an additional 524,259 shares during the period. Raymond James Financial Inc. purchased a new stake in Tyler Technologies during the 4th quarter worth approximately $159,947,000. JPMorgan Chase & Co. lifted its holdings in Tyler Technologies by 148.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock worth $269,369,000 after buying an additional 275,511 shares in the last quarter. Finally, Wealthfront Advisers LLC boosted its position in Tyler Technologies by 8,973.6% in the 4th quarter. Wealthfront Advisers LLC now owns 154,433 shares of the technology company’s stock valued at $89,052,000 after buying an additional 152,731 shares during the period. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Tyler Technologies Price Performance

TYL stock opened at $567.72 on Friday. The business has a 50 day moving average price of $561.66 and a 200 day moving average price of $588.75. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. The stock has a market cap of $24.48 billion, a price-to-earnings ratio of 93.68, a PEG ratio of 4.93 and a beta of 0.88. Tyler Technologies, Inc. has a fifty-two week low of $458.50 and a fifty-two week high of $661.31.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.22. Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. The business had revenue of $562.43 million during the quarter, compared to the consensus estimate of $556.45 million. During the same quarter in the previous year, the firm earned $2.20 EPS. The company’s revenue was up 10.3% compared to the same quarter last year. Equities research analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on TYL shares. Wells Fargo & Company reduced their price objective on Tyler Technologies from $640.00 to $610.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. DA Davidson reduced their price target on Tyler Technologies from $595.00 to $570.00 and set a “neutral” rating on the stock in a research report on Friday, April 25th. Barclays decreased their price objective on Tyler Technologies from $700.00 to $695.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. Wall Street Zen lowered shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, The Goldman Sachs Group lifted their price target on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Tyler Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $687.82.

Insider Buying and Selling at Tyler Technologies

In other news, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the sale, the insider now owns 6,983 shares in the company, valued at approximately $4,322,477. The trade was a 46.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total value of $4,022,981.26. Following the completion of the sale, the chief executive officer now directly owns 75,734 shares of the company’s stock, valued at approximately $46,772,561.06. This trade represents a 7.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,962 shares of company stock worth $13,702,451 over the last 90 days. Corporate insiders own 1.10% 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.