Procyon Advisors LLC Has $1.04 Million Stake in Tyler Technologies, Inc. (NYSE:TYL)

Procyon Advisors LLC grew its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 3.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,435 shares of the technology company’s stock after acquiring an additional 74 shares during the period. Procyon Advisors LLC’s holdings in Tyler Technologies were worth $1,035,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TYL. Sound Income Strategies LLC acquired a new position in Tyler Technologies during the first quarter worth $68,000. Congress Asset Management Co. MA acquired a new position in Tyler Technologies during the 1st quarter valued at about $340,000. 17 Capital Partners LLC acquired a new position in Tyler Technologies in the first quarter valued at approximately $718,000. Red Spruce Capital LLC acquired a new stake in Tyler Technologies during the 1st quarter worth $430,000. Finally, Czech National Bank boosted its position in shares of Tyler Technologies by 0.6% in the 1st quarter. Czech National Bank now owns 7,411 shares of the technology company’s stock worth $3,150,000 after purchasing an additional 42 shares during the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

Tyler Technologies Stock Up 1.1 %

Shares of NYSE TYL traded up $5.18 during trading on Thursday, hitting $493.81. 257,755 shares of the company traded hands, compared to its average volume of 218,266. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.94 and a current ratio of 0.94. Tyler Technologies, Inc. has a fifty-two week low of $361.16 and a fifty-two week high of $500.49. The business’s fifty day moving average is $472.79 and its 200 day moving average is $440.30. The firm has a market capitalization of $20.97 billion, a price-to-earnings ratio of 110.67, a P/E/G ratio of 4.59 and a beta of 0.74.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $1.74 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.26. The firm had revenue of $512.36 million during the quarter, compared to analyst estimates of $507.79 million. Tyler Technologies had a return on equity of 9.35% and a net margin of 9.50%. Equities research analysts predict that Tyler Technologies, Inc. will post 7.1 earnings per share for the current fiscal year.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, Director Brenda A. Cline sold 5,000 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $458.83, for a total value of $2,294,150.00. Following the sale, the director now directly owns 1,358 shares in the company, valued at $623,091.14. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Brenda A. Cline sold 5,000 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $458.83, for a total value of $2,294,150.00. Following the completion of the transaction, the director now directly owns 1,358 shares in the company, valued at $623,091.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brian K. Miller sold 800 shares of Tyler Technologies stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $479.28, for a total value of $383,424.00. Following the sale, the chief financial officer now directly owns 12,736 shares of the company’s stock, valued at approximately $6,104,110.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,241 shares of company stock valued at $12,495,890. 2.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TYL shares. Oppenheimer increased their target price on Tyler Technologies from $500.00 to $550.00 and gave the company an “outperform” rating in a research note on Wednesday, May 22nd. JMP Securities reiterated a “market outperform” rating and set a $490.00 price objective on shares of Tyler Technologies in a research note on Friday, April 26th. Loop Capital raised their target price on shares of Tyler Technologies from $485.00 to $530.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. Needham & Company LLC boosted their target price on shares of Tyler Technologies from $500.00 to $600.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Finally, Truist Financial reaffirmed a “buy” rating and set a $560.00 price target (up from $510.00) on shares of Tyler Technologies in a research report on Thursday, May 23rd. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $519.09.

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.