TCW Group Inc. Makes New Investment in Tyler Technologies, Inc. (NYSE:TYL)

TCW Group Inc. bought a new position in Tyler Technologies, Inc. (NYSE:TYL) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 62,603 shares of the technology company’s stock, valued at approximately $36,099,000.

A number of other hedge funds have also added to or reduced their stakes in TYL. Ashton Thomas Securities LLC purchased a new stake in shares of Tyler Technologies in the 3rd quarter worth approximately $27,000. Sierra Ocean LLC purchased a new stake in shares of Tyler Technologies in the 4th quarter worth approximately $32,000. Quarry LP purchased a new stake in shares of Tyler Technologies in the 3rd quarter worth approximately $78,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of Tyler Technologies by 18.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the technology company’s stock worth $78,000 after purchasing an additional 21 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in shares of Tyler Technologies in the 3rd quarter worth approximately $79,000. 93.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TYL has been the subject of several research reports. DA Davidson reaffirmed a “neutral” rating and issued a $575.00 price target on shares of Tyler Technologies in a research report on Thursday, January 30th. Truist Financial reaffirmed a “buy” rating and issued a $775.00 price target (up previously from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. StockNews.com raised shares of Tyler Technologies from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Barclays increased their target price on shares of Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Finally, Piper Sandler increased their target price on shares of Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Tyler Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $676.25.

Tyler Technologies Trading Down 2.4 %

NYSE TYL opened at $614.89 on Friday. The company has a fifty day simple moving average of $597.53 and a two-hundred day simple moving average of $596.50. The stock has a market cap of $26.45 billion, a P/E ratio of 101.47, a P/E/G 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. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. On average, analysts forecast that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Insider Transactions at Tyler Technologies

In other news, CFO Brian K. Miller sold 6,752 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $613.75, for a total value of $4,144,040.00. Following the sale, the chief financial officer now owns 11,918 shares in the company, valued at $7,314,672.50. This represents a 36.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John S. Marr, Jr. sold 12,000 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the sale, the insider now owns 6,983 shares in the company, valued at approximately $4,285,187.78. This represents a 63.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock worth $18,941,368 over the last 90 days. 2.20% of the stock is currently owned by company 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.