MBB Public Markets I LLC Buys Shares of 3,110 Tyler Technologies, Inc. (NYSE:TYL)

MBB Public Markets I LLC bought a new stake in Tyler Technologies, Inc. (NYSE:TYL) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,110 shares of the technology company’s stock, valued at approximately $1,564,000.

Several other institutional investors also recently bought and sold shares of TYL. Independence Bank of Kentucky acquired a new stake in Tyler Technologies in the second quarter valued at approximately $25,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Tyler Technologies during the fourth quarter worth $26,000. Covestor Ltd lifted its stake in shares of Tyler Technologies by 153.6% during the first quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after buying an additional 43 shares during the period. Blue Trust Inc. lifted its stake in shares of Tyler Technologies by 329.4% during the second quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after buying an additional 56 shares during the period. Finally, Lynx Investment Advisory acquired a new stake in shares of Tyler Technologies during the second quarter worth $38,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Tyler Technologies Stock Performance

Shares of TYL stock opened at $577.52 on Monday. The firm’s 50 day moving average price is $576.23 and its 200-day moving average price is $504.13. 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 one year low of $361.16 and a one year high of $598.93. The firm has a market cap of $24.52 billion, a P/E ratio of 130.66, a P/E/G ratio of 5.41 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, July 24th. The technology company reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.06. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. The firm had revenue of $540.98 million for the quarter, compared to the consensus estimate of $541.01 million. During the same period in the prior year, the firm earned $1.53 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, equities research analysts predict that Tyler Technologies, Inc. will post 7.21 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on TYL. BTIG Research lifted their price objective on shares of Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Oppenheimer boosted their target price on shares of Tyler Technologies from $550.00 to $625.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. The Goldman Sachs Group restated a “buy” rating and set a $627.00 target price on shares of Tyler Technologies in a research report on Friday, September 13th. Wells Fargo & Company boosted their target price on shares of Tyler Technologies from $580.00 to $600.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, JMP Securities lifted their price objective on shares of Tyler Technologies from $490.00 to $580.00 and gave the company a “market outperform” rating in a report on Monday, July 22nd. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Tyler Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $582.31.

Insider Buying and Selling at Tyler Technologies

In related news, Director Daniel M. Pope sold 275 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $578.26, for a total value of $159,021.50. Following the transaction, the director now directly owns 3,218 shares of the company’s stock, valued at approximately $1,860,840.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Daniel M. Pope sold 275 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $578.26, for a total value of $159,021.50. Following the transaction, the director now directly owns 3,218 shares of the company’s stock, valued at approximately $1,860,840.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $576.62, for a total transaction of $2,883,100.00. Following the completion of the transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at $43,246,500. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,375 shares of company stock valued at $17,049,739. Insiders own 2.20% of the company’s stock.

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.