HB Wealth Management LLC Raises Stock Position in Tyler Technologies, Inc. (NYSE:TYL)

HB Wealth Management LLC grew its stake in Tyler Technologies, Inc. (NYSE:TYL) by 4.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 840 shares of the technology company’s stock after purchasing an additional 36 shares during the period. HB Wealth Management LLC’s holdings in Tyler Technologies were worth $357,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in TYL. O Shaughnessy Asset Management LLC purchased a new stake in shares of Tyler Technologies during the 3rd quarter worth about $261,000. Bank of Nova Scotia raised its holdings in shares of Tyler Technologies by 14.9% during the third quarter. Bank of Nova Scotia now owns 3,916 shares of the technology company’s stock valued at $1,512,000 after acquiring an additional 508 shares during the last quarter. Gotham Asset Management LLC lifted its position in shares of Tyler Technologies by 8.3% in the third quarter. Gotham Asset Management LLC now owns 5,373 shares of the technology company’s stock valued at $2,075,000 after acquiring an additional 412 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Tyler Technologies by 110.7% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,549 shares of the technology company’s stock worth $598,000 after acquiring an additional 814 shares during the last quarter. Finally, Alps Advisors Inc. acquired a new stake in shares of Tyler Technologies in the third quarter worth approximately $550,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Truist Financial reiterated a “buy” rating and issued a $560.00 price objective (up from $510.00) on shares of Tyler Technologies in a report on Thursday, May 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $520.00 price objective on shares of Tyler Technologies in a report on Wednesday, April 24th. JMP Securities reiterated a “market outperform” rating and set a $490.00 target price on shares of Tyler Technologies in a report on Friday, April 26th. Robert W. Baird lifted their target price on shares of Tyler Technologies from $500.00 to $525.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Finally, BTIG Research increased their price target on shares of Tyler Technologies from $515.00 to $550.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $519.09.

Insider Activity

In related news, Director Brenda A. Cline sold 5,000 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $458.83, for a total transaction of $2,294,150.00. Following the completion of the transaction, the director now owns 1,358 shares of the company’s stock, valued at approximately $623,091.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Brenda A. Cline sold 5,000 shares of the company’s stock in a transaction that occurred 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 approximately $623,091.14. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Brian K. Miller sold 2,671 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $465.03, for a total value of $1,242,095.13. Following the transaction, the chief financial officer now owns 13,536 shares of the company’s stock, valued at approximately $6,294,646.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,241 shares of company stock valued at $12,495,890. 1.50% of the stock is owned by insiders.

Tyler Technologies Stock Up 0.5 %

Shares of TYL traded up $2.33 during trading hours on Friday, reaching $510.89. The company’s stock had a trading volume of 68,311 shares, compared to its average volume of 219,864. Tyler Technologies, Inc. has a 1-year low of $361.16 and a 1-year high of $519.44. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.20. The firm has a market cap of $21.69 billion, a price-to-earnings ratio of 114.90, a P/E/G ratio of 4.77 and a beta of 0.76. The company has a 50 day moving average of $482.96 and a two-hundred day moving average of $444.03.

Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, April 24th. The technology company reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.26. The company had revenue of $512.36 million for 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%. As a group, research analysts predict that Tyler Technologies, Inc. will post 7.1 EPS for the current fiscal 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.