Proficio Capital Partners LLC Takes Position in Tyler Technologies, Inc. (NYSE:TYL)

Proficio Capital Partners LLC acquired a new stake in shares of Tyler Technologies, Inc. (NYSE:TYL) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 58,241 shares of the technology company’s stock, valued at approximately $33,584,000.

A number of other large investors have also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC lifted its position in Tyler Technologies by 76.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,559 shares of the technology company’s stock valued at $2,077,000 after purchasing an additional 1,540 shares during the period. State of Alaska Department of Revenue lifted its position in Tyler Technologies by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 4,952 shares of the technology company’s stock valued at $2,890,000 after purchasing an additional 335 shares during the period. abrdn plc lifted its position in Tyler Technologies by 32.9% during the third quarter. abrdn plc now owns 12,340 shares of the technology company’s stock valued at $7,180,000 after purchasing an additional 3,056 shares during the period. Diversify Wealth Management LLC lifted its position in Tyler Technologies by 8.4% during the third quarter. Diversify Wealth Management LLC now owns 1,037 shares of the technology company’s stock valued at $604,000 after purchasing an additional 80 shares during the period. Finally, AustralianSuper Pty Ltd lifted its position in Tyler Technologies by 127.5% during the third quarter. AustralianSuper Pty Ltd now owns 992 shares of the technology company’s stock valued at $579,000 after purchasing an additional 556 shares during the period. 93.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tyler Technologies

In related news, insider John S. Marr, Jr. sold 6,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $633.55, for a total transaction of $3,801,300.00. Following the completion of the sale, the insider now owns 6,983 shares of the company’s stock, valued at approximately $4,424,079.65. This represents a 46.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian K. Miller sold 2,500 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $632.01, for a total transaction of $1,580,025.00. Following the sale, the chief financial officer now directly owns 12,198 shares of the company’s stock, valued at approximately $7,709,257.98. This represents a 17.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,766 shares of company stock valued at $13,548,346. Corporate insiders own 2.20% of the company’s stock.

Tyler Technologies Stock Up 0.4 %

TYL opened at $607.66 on Friday. Tyler Technologies, Inc. has a twelve month low of $397.80 and a twelve month high of $661.31. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. The company has a 50-day moving average price of $598.40 and a 200 day moving average price of $597.41. The company has a market cap of $26.14 billion, a PE ratio of 100.27, a price-to-earnings-growth ratio of 4.93 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. Sell-side analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TYL has been the subject of a number of research reports. The Goldman Sachs Group boosted their target price on shares of Tyler Technologies from $660.00 to $728.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Barclays upped their price objective on shares of Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Truist Financial reiterated a “buy” rating and issued a $775.00 price objective (up previously from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. DA Davidson reiterated a “neutral” rating and issued a $575.00 price objective on shares of Tyler Technologies in a research report on Thursday, January 30th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $700.00 price objective on shares of Tyler Technologies in a research report on Tuesday, January 21st. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $676.25.

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.