Kayne Anderson Rudnick Investment Management LLC Buys 3,521 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 8.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,025 shares of the technology company’s stock after acquiring an additional 3,521 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Tyler Technologies were worth $23,141,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Independence Bank of Kentucky acquired a new stake in shares of Tyler Technologies during the 2nd quarter worth approximately $25,000. Kapitalo Investimentos Ltda bought a new position in Tyler Technologies in the fourth quarter worth $26,000. Covestor Ltd lifted its position in Tyler Technologies by 153.6% in the first quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after purchasing an additional 43 shares during the period. Blue Trust Inc. lifted its position in Tyler Technologies by 329.4% in the second quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after purchasing an additional 56 shares during the period. Finally, Lynx Investment Advisory bought a new position in Tyler Technologies in the second quarter worth $38,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

Tyler Technologies Stock Down 0.4 %

Shares of NYSE TYL opened at $577.80 on Friday. The business has a fifty day moving average of $570.67 and a two-hundred day moving average of $498.05. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.06 and a current ratio of 1.06. Tyler Technologies, Inc. has a 52-week low of $361.16 and a 52-week high of $598.93. The stock has a market cap of $24.53 billion, a PE ratio of 130.72, a PEG ratio of 5.42 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.06. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The business had revenue of $540.98 million during the quarter, compared to analysts’ expectations of $541.01 million. During the same period in the previous year, the business posted $1.53 earnings per share. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, equities research analysts expect that Tyler Technologies, Inc. will post 7.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on TYL shares. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $627.00 target price on shares of Tyler Technologies in a research report on Friday, September 13th. Piper Sandler raised their target price on Tyler Technologies from $529.00 to $625.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. BTIG Research raised their target price on Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. DA Davidson raised their target price on Tyler Technologies from $456.00 to $525.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Finally, JMP Securities raised their target price on Tyler Technologies from $490.00 to $580.00 and gave the stock a “market outperform” rating in a research report on Monday, July 22nd. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Tyler Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $582.31.

Insider Activity at Tyler Technologies

In related news, CEO H Lynn Moore, Jr. sold 5,000 shares of Tyler Technologies stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $576.62, for a total value of $2,883,100.00. Following the completion of the transaction, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at $43,246,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO H Lynn Moore, Jr. sold 6,250 shares of Tyler Technologies stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $576.49, for a total value of $3,603,062.50. Following the completion of the transaction, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at $43,236,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of Tyler Technologies stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $576.62, for a total value of $2,883,100.00. Following the completion of the sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at $43,246,500. The disclosure for this sale can be found here. Insiders sold 29,375 shares of company stock valued at $17,049,739 over the last ninety days. 2.20% of the stock is owned by insiders.

Tyler Technologies 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.