Brooklyn Investment Group Takes $79,000 Position in Tyler Technologies, Inc. (NYSE:TYL)

Brooklyn Investment Group acquired a new position in shares of Tyler Technologies, Inc. (NYSE:TYL) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 136 shares of the technology company’s stock, valued at approximately $79,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tidal Investments LLC lifted its position in Tyler Technologies by 64.8% during the first quarter. Tidal Investments LLC now owns 2,953 shares of the technology company’s stock worth $1,253,000 after buying an additional 1,161 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Tyler Technologies by 18.3% in the 2nd quarter. SG Americas Securities LLC now owns 8,117 shares of the technology company’s stock worth $4,081,000 after purchasing an additional 1,255 shares during the last quarter. Aigen Investment Management LP bought a new position in Tyler Technologies in the 3rd quarter worth approximately $1,309,000. Vaughan Nelson Investment Management L.P. raised its position in shares of Tyler Technologies by 21.5% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 123,253 shares of the technology company’s stock worth $61,969,000 after buying an additional 21,818 shares in the last quarter. Finally, Swedbank AB bought a new stake in Tyler Technologies in the second quarter worth about $251,390,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Tyler Technologies Price Performance

Shares of NYSE TYL opened at $630.44 on Friday. The stock has a market capitalization of $26.98 billion, a price-to-earnings ratio of 115.04, a price-to-earnings-growth ratio of 5.65 and a beta of 0.77. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18. The firm has a 50-day simple moving average of $598.13 and a 200-day simple moving average of $554.74. Tyler Technologies, Inc. has a 52 week low of $397.80 and a 52 week high of $637.53.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The firm had revenue of $543.34 million during the quarter, compared to analysts’ expectations of $547.34 million. During the same quarter in the previous year, the business earned $1.66 earnings per share. The firm’s revenue was up 9.8% compared to the same quarter last year. On average, equities analysts predict that Tyler Technologies, Inc. will post 7.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on TYL shares. DA Davidson lifted their price target on Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Barclays lifted their target price on shares of Tyler Technologies from $700.00 to $705.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. StockNews.com raised shares of Tyler Technologies from a “hold” rating to a “buy” rating in a report on Thursday. Needham & Company LLC increased their price objective on shares of Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Oppenheimer boosted their price objective on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $642.62.

Insiders Place Their Bets

In other Tyler Technologies news, Director Glenn A. Carter sold 3,350 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $582.57, for a total value of $1,951,609.50. Following the completion of the transaction, the director now directly owns 2,654 shares of the company’s stock, valued at $1,546,140.78. This represents a 55.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John S. Marr, Jr. sold 12,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the completion of the transaction, the insider now owns 6,983 shares in the company, valued at approximately $4,285,187.78. The trade was a 63.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,100 shares of company stock valued at $22,309,090 in the last quarter. 2.20% of the stock is currently owned by company insiders.

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.