Oak Ridge Investments LLC Has $1.70 Million Position in Tyler Technologies, Inc. (NYSE:TYL)

Oak Ridge Investments LLC reduced its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 2.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,924 shares of the technology company’s stock after selling 87 shares during the quarter. Oak Ridge Investments LLC’s holdings in Tyler Technologies were worth $1,700,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC raised its stake in Tyler Technologies by 2.3% during the 4th quarter. Integrated Wealth Concepts LLC now owns 786 shares of the technology company’s stock valued at $453,000 after purchasing an additional 18 shares during the period. AdvisorNet Financial Inc raised its stake in Tyler Technologies by 7.0% during the 1st quarter. AdvisorNet Financial Inc now owns 291 shares of the technology company’s stock valued at $169,000 after purchasing an additional 19 shares during the period. Leelyn Smith LLC increased its stake in shares of Tyler Technologies by 0.9% in the first quarter. Leelyn Smith LLC now owns 2,122 shares of the technology company’s stock worth $1,234,000 after acquiring an additional 19 shares during the last quarter. Benjamin Edwards Inc. increased its stake in shares of Tyler Technologies by 1.5% in the fourth quarter. Benjamin Edwards Inc. now owns 1,526 shares of the technology company’s stock worth $880,000 after acquiring an additional 22 shares during the last quarter. Finally, MV Capital Management Inc. increased its stake in shares of Tyler Technologies by 42.9% in the first quarter. MV Capital Management Inc. now owns 80 shares of the technology company’s stock worth $47,000 after acquiring an additional 24 shares during the last quarter. 93.30% of the stock is owned by institutional investors and hedge funds.

Tyler Technologies Trading Up 2.9%

Shares of NYSE:TYL opened at $580.24 on Thursday. The stock has a market capitalization of $25.10 billion, a PE ratio of 82.89, a P/E/G ratio of 4.33 and a beta of 0.85. Tyler Technologies, Inc. has a 1 year low of $513.52 and a 1 year high of $661.31. The firm has a fifty day moving average price of $577.14 and a 200 day moving average price of $579.11.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, July 30th. The technology company reported $2.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.78 by $0.13. Tyler Technologies had a net margin of 13.66% and a return on equity of 10.34%. The company had revenue of $584.01 million during the quarter, compared to analysts’ expectations of $587.59 million. During the same period in the prior year, the company earned $2.40 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, sell-side analysts forecast that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Insider Activity

In other Tyler Technologies news, CFO Brian K. Miller sold 1,200 shares of the company’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $580.72, for a total transaction of $696,864.00. Following the completion of the sale, the chief financial officer directly owned 13,772 shares in the company, valued at $7,997,675.84. This represents a 8.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO H Lynn Moore, Jr. sold 5,250 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $588.89, for a total transaction of $3,091,672.50. Following the sale, the chief executive officer owned 81,775 shares of the company’s stock, valued at $48,156,479.75. This trade represents a 6.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,602 shares of company stock valued at $17,747,049 over the last three months. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TYL has been the topic of a number of research reports. Robert W. Baird dropped their price target on shares of Tyler Technologies from $785.00 to $700.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Cantor Fitzgerald initiated coverage on shares of Tyler Technologies in a research note on Tuesday, June 3rd. They issued a “neutral” rating and a $600.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $750.00 price target on shares of Tyler Technologies in a research note on Tuesday, May 13th. Piper Sandler dropped their price target on shares of Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating on the stock in a research note on Friday, April 25th. Finally, Barclays upped their price target on shares of Tyler Technologies from $695.00 to $715.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $688.27.

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.