Commonwealth Equity Services LLC Acquires 3,544 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Commonwealth Equity Services LLC lifted its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 119.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,517 shares of the technology company’s stock after acquiring an additional 3,544 shares during the period. Commonwealth Equity Services LLC’s holdings in Tyler Technologies were worth $2,770,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Kapitalo Investimentos Ltda bought a new stake in Tyler Technologies in the fourth quarter worth about $26,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Tyler Technologies in the fourth quarter worth about $31,000. Headlands Technologies LLC bought a new stake in Tyler Technologies in the fourth quarter worth about $40,000. Lindbrook Capital LLC lifted its stake in Tyler Technologies by 50.6% in the fourth quarter. Lindbrook Capital LLC now owns 116 shares of the technology company’s stock worth $49,000 after purchasing an additional 39 shares during the last quarter. Finally, Chilton Capital Management LLC bought a new stake in Tyler Technologies in the fourth quarter worth about $52,000. Institutional investors own 93.30% of the company’s stock.

Insider Transactions at Tyler Technologies

In other news, CFO Brian K. Miller sold 800 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $479.28, for a total transaction of $383,424.00. Following the completion of the sale, the chief financial officer now owns 12,736 shares of the company’s stock, valued at $6,104,110.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Brian K. Miller sold 800 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $479.28, for a total transaction of $383,424.00. Following the completion of the sale, the chief financial officer now owns 12,736 shares of the company’s stock, valued at approximately $6,104,110.08. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider John S. Marr, Jr. sold 6,000 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $481.99, for a total transaction of $2,891,940.00. Following the sale, the insider now directly owns 6,983 shares of the company’s stock, valued at approximately $3,365,736.17. The disclosure for this sale can be found here. Insiders sold 26,241 shares of company stock valued at $12,495,890 over the last 90 days. Corporate insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TYL shares. Truist Financial reaffirmed a “buy” rating and set a $560.00 target price (up from $510.00) on shares of Tyler Technologies in a research report on Thursday, May 23rd. Robert W. Baird lifted their price objective on shares of Tyler Technologies from $500.00 to $525.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Loop Capital lifted their price target on shares of Tyler Technologies from $485.00 to $530.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Piper Sandler reaffirmed an “overweight” rating and issued a $520.00 price target on shares of Tyler Technologies in a report on Wednesday, April 24th. Finally, Oppenheimer lifted their price objective on shares of Tyler Technologies from $500.00 to $550.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 22nd. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $519.09.

Tyler Technologies Price Performance

Shares of Tyler Technologies stock traded down $0.69 during trading hours on Friday, reaching $507.87. The stock had a trading volume of 34,110 shares, compared to its average volume of 219,597. The stock’s 50 day moving average is $482.96 and its 200 day moving average is $444.03. The firm has a market capitalization of $21.56 billion, a PE ratio of 115.06, a PEG ratio of 4.77 and a beta of 0.76. Tyler Technologies, Inc. has a twelve month low of $361.16 and a twelve month high of $519.44. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.20.

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

About Tyler Technologies

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.