Magnetar Financial LLC Acquires New Position in Tyler Technologies, Inc. $TYL

Magnetar Financial LLC bought a new position in Tyler Technologies, Inc. (NYSE:TYL) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 9,463 shares of the technology company’s stock, valued at approximately $4,951,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TYL. DLD Asset Management LP bought a new stake in shares of Tyler Technologies during the second quarter valued at approximately $5,780,190,000. Norges Bank bought a new position in Tyler Technologies in the 2nd quarter valued at approximately $712,276,000. Van ECK Associates Corp lifted its position in Tyler Technologies by 55.1% in the 3rd quarter. Van ECK Associates Corp now owns 850,103 shares of the technology company’s stock valued at $444,740,000 after acquiring an additional 301,885 shares in the last quarter. Vanguard Group Inc. boosted its stake in Tyler Technologies by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 5,805,036 shares of the technology company’s stock valued at $3,036,963,000 after purchasing an additional 234,916 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Tyler Technologies by 11.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,410,640 shares of the technology company’s stock valued at $738,010,000 after purchasing an additional 144,612 shares during the last quarter. Institutional investors own 93.30% of the company’s stock.

Insiders Place Their Bets

In other Tyler Technologies news, Director Daniel M. Pope sold 500 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $355.40, for a total transaction of $177,700.00. Following the completion of the sale, the director directly owned 2,871 shares in the company, valued at $1,020,353.40. The trade was a 14.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andrew D. Teed purchased 1,600 shares of Tyler Technologies stock in a transaction dated Monday, February 23rd. The shares were acquired at an average cost of $309.91 per share, with a total value of $495,856.00. Following the transaction, the director directly owned 5,118 shares in the company, valued at approximately $1,586,119.38. The trade was a 45.48% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders sold 8,174 shares of company stock valued at $3,228,243. 1.10% of the stock is currently owned by company insiders.

Tyler Technologies Trading Down 1.7%

Shares of TYL opened at $348.26 on Thursday. The firm has a fifty day simple moving average of $381.91 and a two-hundred day simple moving average of $456.08. The firm has a market cap of $14.97 billion, a PE ratio of 48.37, a P/E/G ratio of 2.38 and a beta of 0.90. Tyler Technologies, Inc. has a 1-year low of $283.71 and a 1-year high of $621.34.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, February 11th. The technology company reported $2.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.07). The firm had revenue of $575.18 million during the quarter, compared to analysts’ expectations of $591.09 million. Tyler Technologies had a return on equity of 10.42% and a net margin of 13.53%.The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the business earned $2.43 earnings per share. As a group, research analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Analysts Set New Price Targets

TYL has been the subject of several recent analyst reports. Robert W. Baird set a $440.00 price target on Tyler Technologies in a research note on Friday, February 13th. BTIG Research dropped their price objective on Tyler Technologies from $560.00 to $470.00 and set a “buy” rating on the stock in a research report on Monday, February 9th. TD Cowen reduced their price objective on Tyler Technologies from $600.00 to $500.00 and set a “buy” rating for the company in a report on Friday, February 13th. Oppenheimer decreased their target price on Tyler Technologies from $510.00 to $450.00 and set an “outperform” rating for the company in a research report on Friday, February 13th. Finally, Wells Fargo & Company lowered their target price on shares of Tyler Technologies from $420.00 to $335.00 and set an “equal weight” rating on the stock in a research note on Friday, February 13th. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Tyler Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $467.54.

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.