Insider Buying: Tyler Technologies (NYSE:TYL) Insider Purchases 610 Shares of Stock

Tyler Technologies, Inc. (NYSE:TYL) insider Abigail Marshall Diaz-Pedrosa purchased 610 shares of Tyler Technologies stock in a transaction on Friday, February 20th. The stock was acquired at an average cost of $325.08 per share, for a total transaction of $198,298.80. Following the acquisition, the insider directly owned 1,123 shares of the company’s stock, valued at approximately $365,064.84. This represents a 118.91% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Tyler Technologies Trading Up 2.1%

Shares of NYSE TYL traded up $6.79 during trading on Tuesday, reaching $324.22. The company had a trading volume of 737,774 shares, compared to its average volume of 730,711. Tyler Technologies, Inc. has a twelve month low of $283.71 and a twelve month high of $626.56. The stock has a 50-day moving average price of $406.43 and a two-hundred day moving average price of $473.57. The stock has a market capitalization of $13.94 billion, a PE ratio of 45.03, a price-to-earnings-growth ratio of 2.12 and a beta of 0.91.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data 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 firm had revenue of $575.18 million for the quarter, compared to analysts’ expectations of $591.09 million. During the same period in the previous year, the company posted $2.43 EPS. The business’s quarterly revenue was up 6.3% on a year-over-year basis. On average, sell-side analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Hedge Funds Weigh In On Tyler Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. General American Investors Co. Inc. increased its position in shares of Tyler Technologies by 7.2% in the 3rd quarter. General American Investors Co. Inc. now owns 44,381 shares of the technology company’s stock worth $23,218,000 after purchasing an additional 3,000 shares during the last quarter. Lazard Freres Gestion S.A.S. grew its stake in Tyler Technologies by 150.0% in the third quarter. Lazard Freres Gestion S.A.S. now owns 5,000 shares of the technology company’s stock worth $2,615,000 after purchasing an additional 3,000 shares in the last quarter. Principal Financial Group Inc. increased its holdings in 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 buying an additional 144,612 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Tyler Technologies by 4.9% during the third quarter. Envestnet Asset Management Inc. now owns 172,932 shares of the technology company’s stock valued at $90,471,000 after buying an additional 8,126 shares in the last quarter. Finally, Atlantic Union Bankshares Corp bought a new position in Tyler Technologies during the 3rd quarter worth approximately $1,749,000. 93.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on TYL shares. Weiss Ratings reissued a “hold (c)” rating on shares of Tyler Technologies in a research report on Friday, January 9th. Wells Fargo & Company dropped their price objective on shares of Tyler Technologies from $420.00 to $335.00 and set an “equal weight” rating for the company in a research report on Friday, February 13th. BTIG Research reduced their target price on shares of Tyler Technologies from $560.00 to $470.00 and set a “buy” rating on the stock in a report on Monday, February 9th. Evercore reaffirmed a “positive” rating on shares of Tyler Technologies in a research report on Friday, October 31st. Finally, DA Davidson reiterated a “buy” rating and issued a $460.00 price target on shares of Tyler Technologies in a report on Tuesday, February 17th. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $467.54.

Tyler Technologies Company Profile

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.