Markel Group Inc. Purchases 5,400 Shares of Tyler Technologies, Inc. $TYL

Markel Group Inc. purchased a new stake in Tyler Technologies, Inc. (NYSE:TYL) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 5,400 shares of the technology company’s stock, valued at approximately $1,720,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Tyler Technologies in the 2nd quarter valued at about $1,129,890,000. Principal Financial Group Inc. increased its holdings in shares of Tyler Technologies by 20.1% in the first quarter. Principal Financial Group Inc. now owns 1,745,625 shares of the technology company’s stock valued at $597,681,000 after purchasing an additional 291,564 shares during the last quarter. Bank of America Corp DE raised its position in shares of Tyler Technologies by 10.5% in the first quarter. Bank of America Corp DE now owns 405,095 shares of the technology company’s stock valued at $138,696,000 after purchasing an additional 38,508 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Tyler Technologies by 13.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 400,775 shares of the technology company’s stock valued at $117,211,000 after purchasing an additional 48,832 shares during the period. Finally, Deutsche Bank AG bought a new position in shares of Tyler Technologies in the second quarter valued at about $88,645,000. Institutional investors own 93.30% of the company’s stock.

Insider Activity

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 10,000 shares of Tyler Technologies stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $393.17, for a total value of $3,931,700.00. Following the completion of the sale, the chief executive officer owned 100,392 shares in the company, valued at $39,471,122.64. The trade was a 9.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey Puckett sold 8,500 shares of Tyler Technologies stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $356.44, for a total transaction of $3,029,740.00. Following the completion of the sale, the chief operating officer owned 7,784 shares of the company’s stock, valued at $2,774,528.96. This trade represents a 52.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 27,750 shares of company stock worth $10,409,748 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. UBS Group set a $395.00 target price on shares of Tyler Technologies in a research note on Saturday, August 1st. Zacks Research lowered shares of Tyler Technologies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 2nd. DA Davidson reissued a “buy” rating and issued a $460.00 price target on shares of Tyler Technologies in a report on Tuesday, October 27th. Needham & Company LLC raised their price objective on shares of Tyler Technologies from $400.00 to $500.00 and gave the stock a “buy” rating in a research report on Tuesday, October 27th. Finally, BTIG Research raised their price objective on shares of Tyler Technologies from $400.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Tyler Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $440.88.

Tyler Technologies Stock Performance

Shares of NYSE TYL opened at $404.60 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.33 and a quick ratio of 1.33. The stock’s fifty day moving average price is $353.93 and its two-hundred day moving average price is $337.07. Tyler Technologies, Inc. has a one year low of $270.71 and a one year high of $481.57. The firm has a market cap of $16.09 billion, a price-to-earnings ratio of 50.96, a P/E/G ratio of 2.66 and a beta of 0.74.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, October 28th. The technology company reported $3.52 earnings per share for the quarter, topping the consensus estimate of $3.48 by $0.04. Tyler Technologies had a return on equity of 12.21% and a net margin of 13.51%. The firm had revenue of $647.57 million for the quarter, compared to analysts’ expectations of $651.38 million. During the same quarter last year, the business earned $2.91 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, equities analysts forecast that Tyler Technologies, Inc. will post 10.13 EPS for the current year.

Tyler Technologies Company Profile

Tyler Technologies, Inc provides integrated software and technology services to public-sector organizations. Its customers include municipalities, counties, states, courts, school districts, public safety agencies, and other government entities. The company’s solutions are designed to help public organizations manage operations, improve service delivery, and engage with residents and constituents.

Tyler’s product portfolio includes enterprise resource planning and financial management software, property tax and appraisal systems, court and justice solutions, public safety and emergency communications platforms, permitting and licensing tools, and software for schools and elections.