Plum Street Advisors LLC Acquires New Position in Tyler Technologies, Inc. $TYL

Plum Street Advisors LLC acquired a new stake in Tyler Technologies, Inc. (NYSE:TYL) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 1,438 shares of the technology company’s stock, valued at approximately $752,000.

A number of other hedge funds have also added to or reduced their stakes in TYL. DLD Asset Management LP purchased a new position in shares of Tyler Technologies during the second quarter worth approximately $5,780,190,000. Vanguard Group Inc. raised its stake in shares of Tyler Technologies by 4.2% during the third quarter. Vanguard Group Inc. now owns 5,805,036 shares of the technology company’s stock valued at $3,036,963,000 after acquiring an additional 234,916 shares in the last quarter. State Street Corp boosted its holdings in shares of Tyler Technologies by 4.5% in the second quarter. State Street Corp now owns 1,913,672 shares of the technology company’s stock valued at $1,134,501,000 after purchasing an additional 81,679 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Tyler Technologies by 11.4% in the third quarter. Principal Financial Group Inc. now owns 1,410,640 shares of the technology company’s stock valued at $738,010,000 after purchasing an additional 144,612 shares during the period. Finally, Geode Capital Management LLC grew its stake in Tyler Technologies by 2.6% in the second quarter. Geode Capital Management LLC now owns 1,206,406 shares of the technology company’s stock worth $713,144,000 after purchasing an additional 30,686 shares in the last quarter. 93.30% of the stock is currently owned by institutional investors.

Tyler Technologies Stock Up 1.4%

Shares of NYSE:TYL opened at $350.41 on Friday. The firm has a 50 day moving average of $378.04 and a 200 day moving average of $453.89. The company has a market capitalization of $15.06 billion, a price-to-earnings ratio of 48.67, a price-to-earnings-growth ratio of 2.32 and a beta of 0.90. Tyler Technologies, Inc. has a 52 week low of $283.71 and a 52 week high of $621.34.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, February 11th. The technology company reported $2.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.07). Tyler Technologies had a net margin of 13.53% and a return on equity of 10.42%. The company had revenue of $575.18 million for the quarter, compared to the consensus estimate of $591.09 million. During the same period last year, the business posted $2.43 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. On average, sell-side analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Insider Activity

In other Tyler Technologies news, Director Daniel M. Pope sold 500 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $355.40, for a total value of $177,700.00. Following the completion of the transaction, the director directly owned 2,871 shares in the company, valued at approximately $1,020,353.40. The trade was a 14.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Abigail Marshall Diaz-Pedrosa purchased 610 shares of the firm’s stock in a transaction on Friday, February 20th. The shares were purchased at an average cost of $325.08 per share, with a total value of $198,298.80. Following the completion of the transaction, the insider owned 1,123 shares of the company’s stock, valued at approximately $365,064.84. The trade was a 118.91% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold a total of 6,674 shares of company stock worth $2,540,228 over the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on TYL. Weiss Ratings restated a “hold (c)” rating on shares of Tyler Technologies in a report on Friday, January 9th. Robert W. Baird set a $440.00 target price on Tyler Technologies in a report on Friday, February 13th. The Goldman Sachs Group set a $420.00 price target on Tyler Technologies in a research report on Friday, February 13th. TD Cowen cut their price target on Tyler Technologies from $600.00 to $500.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $325.00 price objective on shares of Tyler Technologies in a report on Friday, February 13th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Tyler Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $467.54.

About Tyler Technologies

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler’s product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.