Sanctuary Advisors LLC Takes Position in Tyler Technologies, Inc. (NYSE:TYL)

Sanctuary Advisors LLC purchased a new stake in shares of Tyler Technologies, Inc. (NYSE:TYL) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,684 shares of the technology company’s stock, valued at approximately $1,237,000.

A number of other large investors also recently bought and sold shares of the business. Independence Bank of Kentucky acquired a new position in shares of Tyler Technologies during the second quarter worth $25,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Tyler Technologies during the fourth quarter valued at $26,000. Covestor Ltd grew its holdings in shares of Tyler Technologies by 153.6% during the first quarter. Covestor Ltd now owns 71 shares of the technology company’s stock valued at $30,000 after buying an additional 43 shares during the last quarter. Blue Trust Inc. grew its holdings 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 valued at $37,000 after buying an additional 56 shares during the last quarter. Finally, Lynx Investment Advisory purchased a new stake in shares of Tyler Technologies during the second quarter valued at $38,000. Institutional investors own 93.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TYL. Piper Sandler lifted their price objective on shares of Tyler Technologies from $529.00 to $625.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Truist Financial reiterated a “buy” rating and set a $600.00 target price (up previously from $560.00) on shares of Tyler Technologies in a research report on Friday, July 26th. Oppenheimer boosted their price target on shares of Tyler Technologies from $550.00 to $625.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Barclays raised shares of Tyler Technologies from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $577.00 to $700.00 in a report on Monday. Finally, Wells Fargo & Company increased their price objective on shares of Tyler Technologies from $580.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Tyler Technologies has an average rating of “Moderate Buy” and an average target price of $591.77.

Tyler Technologies Price Performance

Shares of TYL stock opened at $586.19 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market capitalization of $25.01 billion, a PE ratio of 132.62, a price-to-earnings-growth ratio of 5.36 and a beta of 0.78. The firm’s 50-day moving average is $581.10 and its two-hundred day moving average is $513.26. Tyler Technologies, Inc. has a 12 month low of $361.16 and a 12 month high of $598.93.

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

Insider Activity

In related news, Director Daniel M. Pope sold 275 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $578.26, for a total transaction of $159,021.50. Following the completion of the sale, the director now directly owns 3,218 shares of the company’s stock, valued at approximately $1,860,840.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO H Lynn Moore, Jr. sold 6,250 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $576.49, for a total transaction of $3,603,062.50. Following the completion of the sale, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at approximately $43,236,750. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel M. Pope sold 275 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $578.26, for a total value of $159,021.50. Following the sale, the director now directly owns 3,218 shares of the company’s stock, valued at $1,860,840.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,375 shares of company stock valued at $17,049,739 in the last quarter. 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.