Edgestream Partners L.P. Takes $2.49 Million Position in Tyler Technologies, Inc. (NYSE:TYL)

Edgestream Partners L.P. purchased a new position in Tyler Technologies, Inc. (NYSE:TYL) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,321 shares of the technology company’s stock, valued at approximately $2,492,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in Tyler Technologies by 2.2% in the third quarter. Geode Capital Management LLC now owns 1,108,908 shares of the technology company’s stock worth $645,585,000 after acquiring an additional 24,284 shares during the last quarter. Franklin Resources Inc. lifted its stake in Tyler Technologies by 2.0% in the third quarter. Franklin Resources Inc. now owns 912,746 shares of the technology company’s stock worth $547,354,000 after acquiring an additional 17,943 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Tyler Technologies by 4.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 904,175 shares of the technology company’s stock worth $527,785,000 after acquiring an additional 36,066 shares during the last quarter. Van ECK Associates Corp lifted its stake in Tyler Technologies by 1,991.8% in the fourth quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock worth $317,486,000 after acquiring an additional 524,259 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Tyler Technologies by 148.2% in the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock worth $269,369,000 after acquiring an additional 275,511 shares during the last quarter. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TYL shares. DA Davidson reiterated a “neutral” rating and issued a $575.00 price target on shares of Tyler Technologies in a research note on Thursday, January 30th. Wells Fargo & Company reissued an “equal weight” rating and set a $615.00 price objective (down previously from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. Needham & Company LLC reissued a “buy” rating and set a $700.00 price objective on shares of Tyler Technologies in a report on Tuesday, January 21st. Barclays raised their price objective on shares of Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Finally, Piper Sandler raised their price objective on shares of Tyler Technologies from $701.00 to $747.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tyler Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $676.25.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 6,752 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $613.75, for a total value of $4,144,040.00. Following the transaction, the chief financial officer now directly owns 11,918 shares of the company’s stock, valued at approximately $7,314,672.50. The trade was a 36.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the completion of the transaction, the chief executive officer now directly owns 75,734 shares in the company, valued at $46,772,561.06. This represents a 7.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,816 shares of company stock valued at $9,118,070. 2.20% of the stock is owned by company insiders.

Tyler Technologies Stock Performance

Shares of Tyler Technologies stock opened at $589.02 on Monday. The firm’s fifty day simple moving average is $599.93 and its 200-day simple moving average is $598.86. The stock has a market capitalization of $25.34 billion, a price-to-earnings ratio of 97.20, a PEG 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.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. As a group, equities analysts forecast that Tyler Technologies, Inc. will post 8.52 earnings per share for the current 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.