Catalyst Financial Partners LLC Acquires New Shares in Tyler Technologies, Inc. (NYSE:TYL)

Catalyst Financial Partners LLC acquired a new stake in Tyler Technologies, Inc. (NYSE:TYL) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 348 shares of the technology company’s stock, valued at approximately $202,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC lifted its holdings in Tyler Technologies by 2.3% in the fourth quarter. Integrated Wealth Concepts LLC now owns 786 shares of the technology company’s stock valued at $453,000 after acquiring an additional 18 shares during the last quarter. AdvisorNet Financial Inc lifted its stake in Tyler Technologies by 7.0% during the first quarter. AdvisorNet Financial Inc now owns 291 shares of the technology company’s stock worth $169,000 after purchasing an additional 19 shares in the last quarter. Leelyn Smith LLC lifted its stake in Tyler Technologies by 0.9% during the first quarter. Leelyn Smith LLC now owns 2,122 shares of the technology company’s stock worth $1,234,000 after purchasing an additional 19 shares in the last quarter. Kensington Investment Counsel LLC lifted its stake in Tyler Technologies by 0.8% during the fourth quarter. Kensington Investment Counsel LLC now owns 2,496 shares of the technology company’s stock worth $1,439,000 after purchasing an additional 20 shares in the last quarter. Finally, Benjamin Edwards Inc. lifted its stake in Tyler Technologies by 1.5% during the fourth quarter. Benjamin Edwards Inc. now owns 1,526 shares of the technology company’s stock worth $880,000 after purchasing an additional 22 shares in the last quarter. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Tyler Technologies Stock Up 2.1%

Shares of NYSE:TYL opened at $563.41 on Tuesday. The company has a market cap of $24.30 billion, a P/E ratio of 84.85, a PEG ratio of 4.31 and a beta of 0.84. Tyler Technologies, Inc. has a 52 week low of $513.52 and a 52 week high of $661.31. The company has a 50-day moving average price of $574.81 and a 200 day moving average price of $579.64.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.56 by $0.22. The firm had revenue of $562.43 million during the quarter, compared to the consensus estimate of $556.45 million. Tyler Technologies had a net margin of 13.23% and a return on equity of 10.29%. The firm’s revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.20 earnings per share. Analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 5,250 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $585.18, for a total value of $3,072,195.00. Following the completion of the transaction, the chief executive officer directly owned 81,775 shares of the company’s stock, valued at approximately $47,853,094.50. This trade represents a 6.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John S. Marr, Jr. sold 5,000 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $558.86, for a total transaction of $2,794,300.00. Following the completion of the transaction, the insider directly owned 6,983 shares of the company’s stock, valued at approximately $3,902,519.38. This trade represents a 41.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,500 shares of company stock valued at $15,177,230. 1.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have commented on TYL shares. Wall Street Zen cut Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. Barclays decreased their price target on Tyler Technologies from $700.00 to $695.00 and set an “overweight” rating on the stock in a research note on Friday, April 25th. Wells Fargo & Company decreased their price target on 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. Piper Sandler decreased their price target on Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating on the stock in a research note on Friday, April 25th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $750.00 target price on shares of Tyler Technologies in a report on Tuesday, May 13th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Tyler Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $680.50.

Tyler Technologies Company 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.