Thoroughbred Financial Services LLC Raises Position in Tyler Technologies, Inc. (NYSE:TYL)

Thoroughbred Financial Services LLC lifted its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 5.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,074 shares of the technology company’s stock after acquiring an additional 101 shares during the period. Thoroughbred Financial Services LLC’s holdings in Tyler Technologies were worth $1,195,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oak Thistle LLC raised its stake in shares of Tyler Technologies by 213.7% during the fourth quarter. Oak Thistle LLC now owns 2,328 shares of the technology company’s stock valued at $1,342,000 after purchasing an additional 1,586 shares during the period. Kensington Investment Counsel LLC increased its stake in Tyler Technologies by 0.8% during the 4th quarter. Kensington Investment Counsel LLC now owns 2,496 shares of the technology company’s stock worth $1,439,000 after buying an additional 20 shares during the period. Diversified Trust Co acquired a new position in Tyler Technologies in the 4th quarter worth $596,000. Fiduciary Alliance LLC acquired a new stake in shares of Tyler Technologies during the fourth quarter valued at about $1,594,000. Finally, Barclays PLC increased its position in shares of Tyler Technologies by 2.5% during the third quarter. Barclays PLC now owns 88,296 shares of the technology company’s stock worth $51,543,000 after acquiring an additional 2,169 shares during the last quarter. 93.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,514 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the completion of the transaction, the chief executive officer now directly 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 SEC, which is available at this hyperlink. Also, CFO Brian K. Miller sold 1,550 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $613.58, for a total transaction of $951,049.00. Following the completion of the sale, the chief financial officer now owns 14,026 shares in the company, valued at $8,606,073.08. The trade was a 9.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,064 shares of company stock valued at $8,688,030. 2.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TYL shares. Barclays raised their price objective on Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Needham & Company LLC restated a “buy” rating and issued a $700.00 price target on shares of Tyler Technologies in a research note on Tuesday, January 21st. Piper Sandler upped their price target on shares of Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Truist Financial reissued a “buy” rating and set a $775.00 price objective (up from $685.00) on shares of Tyler Technologies in a report on Friday, February 14th. Finally, StockNews.com raised shares of Tyler Technologies from a “hold” rating to a “buy” rating in a research report on Thursday. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tyler Technologies presently has an average rating of “Moderate Buy” and an average target price of $676.25.

Tyler Technologies Stock Performance

Shares of NYSE TYL opened at $539.40 on Friday. 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 firm’s 50-day moving average price is $598.37 and its two-hundred day moving average price is $597.21. Tyler Technologies, Inc. has a 52-week low of $397.80 and a 52-week high of $661.31. The stock has a market capitalization of $23.25 billion, a P/E ratio of 89.01, a P/E/G ratio of 4.93 and a beta of 0.84.

Tyler Technologies (NYSE:TYL) last announced 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 return on equity of 10.15% and a net margin of 12.30%. As a group, sell-side analysts forecast that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

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.