Teacher Retirement System of Texas Boosts Stake in Tyler Technologies, Inc. (NYSE:TYL)

Teacher Retirement System of Texas raised its position in Tyler Technologies, Inc. (NYSE:TYL) by 385.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,030 shares of the technology company’s stock after purchasing an additional 37,352 shares during the quarter. Teacher Retirement System of Texas owned 0.11% of Tyler Technologies worth $27,119,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its position in shares of Tyler Technologies by 221.4% during the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock worth $26,000 after acquiring an additional 31 shares during the period. Sierra Ocean LLC purchased a new position in shares of Tyler Technologies during the fourth quarter worth approximately $32,000. OFI Invest Asset Management purchased a new position in shares of Tyler Technologies during the fourth quarter worth approximately $41,000. Smithfield Trust Co increased its position in shares of Tyler Technologies by 55.6% during the fourth quarter. Smithfield Trust Co now owns 84 shares of the technology company’s stock worth $48,000 after acquiring an additional 30 shares during the period. Finally, Private Trust Co. NA increased its position in shares of Tyler Technologies by 51.8% during the fourth quarter. Private Trust Co. NA now owns 85 shares of the technology company’s stock worth $49,000 after acquiring an additional 29 shares during the period. 93.30% of the stock is owned by hedge funds and other institutional investors.

Tyler Technologies Price Performance

Shares of TYL opened at $566.56 on Friday. The company has a market cap of $24.42 billion, a price-to-earnings ratio of 93.49, a price-to-earnings-growth ratio of 4.93 and a beta of 0.80. Tyler Technologies, Inc. has a twelve month low of $397.80 and a twelve month high of $661.31. 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 50 day moving average of $598.88 and a two-hundred day moving average of $597.81.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 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, analysts predict that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Insider Transactions at Tyler Technologies

In other news, CFO Brian K. Miller sold 1,550 shares of Tyler Technologies stock in a transaction 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 directly owns 14,026 shares in the company, valued at approximately $8,606,073.08. The trade was a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of Tyler Technologies stock in a transaction 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,064 shares of company stock worth $8,688,030. Company insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Barclays raised their target price on shares of Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Wells Fargo & Company reissued an “equal weight” rating and set a $615.00 price objective (down from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. 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. Needham & Company LLC reissued a “buy” rating and set a $700.00 price objective on shares of Tyler Technologies in a report on Tuesday, January 21st. Finally, Piper Sandler lifted their price objective 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. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $676.25.

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.