Raymond James Financial Inc. Takes $159.95 Million Position in Tyler Technologies, Inc. (NYSE:TYL)

Raymond James Financial Inc. bought a new stake in Tyler Technologies, Inc. (NYSE:TYL) during the 4th quarter, HoldingsChannel reports. The fund bought 277,378 shares of the technology company’s stock, valued at approximately $159,947,000.

Several other hedge funds and other institutional investors have also made changes to their positions in TYL. Ashton Thomas Securities LLC purchased a new stake in shares of Tyler Technologies in the third quarter valued at about $27,000. Sierra Ocean LLC purchased a new stake in shares of Tyler Technologies in the fourth quarter valued at about $32,000. Smithfield Trust Co lifted its stake in shares of Tyler Technologies by 55.6% in the fourth quarter. Smithfield Trust Co now owns 84 shares of the technology company’s stock valued at $48,000 after purchasing an additional 30 shares during the period. Private Trust Co. NA lifted its stake in shares of Tyler Technologies by 51.8% in the fourth quarter. Private Trust Co. NA now owns 85 shares of the technology company’s stock valued at $49,000 after purchasing an additional 29 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Tyler Technologies in the fourth quarter valued at about $61,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Insider Transactions at Tyler Technologies

In other news, CFO Brian K. Miller sold 6,752 shares of Tyler Technologies stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $613.75, for a total transaction of $4,144,040.00. Following the completion of the sale, the chief financial officer now directly owns 11,918 shares in the company, valued at $7,314,672.50. The trade was a 36.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of Tyler Technologies stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the sale, the chief executive officer now 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 a total of 14,816 shares of company stock worth $9,118,070 over the last ninety days. 2.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on TYL. Truist Financial reiterated a “buy” rating and issued a $775.00 price objective (up previously from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $615.00 price objective (down previously from $670.00) on shares of Tyler Technologies in a research note on Tuesday, January 7th. StockNews.com cut shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Monday, February 24th. Needham & Company LLC reiterated a “buy” rating and issued a $700.00 price objective on shares of Tyler Technologies in a research note on Tuesday, January 21st. Finally, DA Davidson reiterated a “neutral” rating and issued a $575.00 price objective on shares of Tyler Technologies in a research note on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Tyler Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $676.25.

Tyler Technologies Stock Performance

Shares of NYSE TYL opened at $589.02 on Friday. The company has a market cap of $25.34 billion, a PE ratio of 97.20, a price-to-earnings-growth ratio of 4.93 and a beta of 0.80. Tyler Technologies, Inc. has a 12 month low of $397.80 and a 12 month high of $661.31. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21. The company has a 50-day simple moving average of $599.89 and a 200-day simple moving average of $598.52.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. On average, equities analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Tyler Technologies 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.