Azzad Asset Management Inc. ADV Invests $3.26 Million in Tyler Technologies, Inc. (NYSE:TYL)

Azzad Asset Management Inc. ADV acquired a new position in shares of Tyler Technologies, Inc. (NYSE:TYL) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 5,601 shares of the technology company’s stock, valued at approximately $3,257,000.

Several other institutional investors have also modified their holdings of TYL. Retirement Wealth Solutions LLC purchased a new stake in Tyler Technologies in the first quarter valued at $26,000. Larson Financial Group LLC lifted its position in Tyler Technologies by 221.4% in the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock valued at $26,000 after acquiring an additional 31 shares during the last quarter. Sierra Ocean LLC purchased a new stake in Tyler Technologies in the fourth quarter valued at $32,000. Brown Brothers Harriman & Co. lifted its position in Tyler Technologies by 300.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock valued at $32,000 after acquiring an additional 42 shares during the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in Tyler Technologies in the fourth quarter valued at $40,000. 93.30% of the stock is owned by hedge funds and other institutional investors.

Tyler Technologies Stock Down 1.3%

Shares of NYSE TYL opened at $580.06 on Friday. Tyler Technologies, Inc. has a 12-month low of $458.50 and a 12-month high of $661.31. The company has a market capitalization of $25.01 billion, a PE ratio of 95.72, a price-to-earnings-growth ratio of 4.93 and a beta of 0.84. 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 firm’s 50-day moving average is $564.19 and its two-hundred day moving average is $584.90.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.22. Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. The company had revenue of $562.43 million for the quarter, compared to the consensus estimate of $556.45 million. During the same quarter in the prior year, the firm earned $2.20 earnings per share. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. Equities analysts anticipate that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Truist Financial restated a “buy” rating and issued a $775.00 price objective (up from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. Barclays dropped their price objective on shares of Tyler Technologies from $700.00 to $695.00 and set an “overweight” rating on the stock in a research note on Friday, April 25th. The Goldman Sachs Group boosted their price target on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Wells Fargo & Company dropped their price target on shares of Tyler Technologies from $640.00 to $610.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Finally, Robert W. Baird dropped their price target on shares of Tyler Technologies from $785.00 to $700.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $680.50.

Insider Buying and Selling at Tyler Technologies

In related news, Director Brenda A. Cline sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $577.41, for a total transaction of $1,443,525.00. Following the transaction, the director now owns 2,519 shares of the company’s stock, valued at approximately $1,454,495.79. This represents a 49.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $573.60, for a total transaction of $215,100.00. Following the transaction, the insider now directly owns 247 shares in the company, valued at $141,679.20. The trade was a 60.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,300 shares of company stock valued at $14,480,366 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

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.