Cookson Peirce & Co. Inc. Buys Shares of 17,979 Tyler Technologies, Inc. (NYSE:TYL)

Cookson Peirce & Co. Inc. purchased a new stake in Tyler Technologies, Inc. (NYSE:TYL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,979 shares of the technology company’s stock, valued at approximately $10,367,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Geode Capital Management LLC lifted its stake in Tyler Technologies by 2.2% in the third quarter. Geode Capital Management LLC now owns 1,108,908 shares of the technology company’s stock valued at $645,585,000 after buying an additional 24,284 shares during the period. Franklin Resources Inc. raised its position in shares of Tyler Technologies by 2.0% in the 3rd quarter. Franklin Resources Inc. now owns 912,746 shares of the technology company’s stock valued at $547,354,000 after acquiring an additional 17,943 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Tyler Technologies by 4.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 904,175 shares of the technology company’s stock valued at $527,785,000 after acquiring an additional 36,066 shares during the period. Van ECK Associates Corp boosted its stake in Tyler Technologies by 1,991.8% during the 4th quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock worth $317,486,000 after acquiring an additional 524,259 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Tyler Technologies by 148.2% during the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock valued at $269,369,000 after purchasing an additional 275,511 shares during the period. 93.30% of the stock is currently owned by institutional investors.

Tyler Technologies Price Performance

NYSE TYL opened at $619.15 on Wednesday. The firm’s 50 day moving average is $598.68 and its 200-day moving average is $598.02. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $26.63 billion, a PE ratio of 102.17, a price-to-earnings-growth ratio of 4.93 and a beta of 0.78. Tyler Technologies, Inc. has a 12-month low of $397.80 and a 12-month high of $661.31.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. Equities research analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TYL has been the topic of several analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $700.00 target price on shares of Tyler Technologies in a report on Tuesday, January 21st. Piper Sandler raised their price objective on Tyler Technologies from $701.00 to $747.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. DA Davidson reissued a “neutral” rating and issued a $575.00 target price on shares of Tyler Technologies in a research note on Thursday, January 30th. Barclays raised their price target on Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Finally, StockNews.com cut Tyler Technologies from a “buy” rating to a “hold” rating in a report on Monday, February 24th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $676.25.

Insider Buying and Selling

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,514 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the transaction, the chief executive officer now owns 75,734 shares of the company’s stock, valued at $46,772,561.06. The trade was a 7.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Brian K. Miller sold 6,752 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $613.75, for a total transaction of $4,144,040.00. Following the completion of the transaction, the chief financial officer now directly owns 11,918 shares of the company’s stock, valued at $7,314,672.50. This represents a 36.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.

Tyler Technologies Company 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.