Advisory Services Network LLC Purchases New Position in Tyler Technologies, Inc. (NYSE:TYL)

Advisory Services Network LLC acquired a new stake in Tyler Technologies, Inc. (NYSE:TYL) during the 4th quarter, Holdings Channel.com reports. The fund acquired 587 shares of the technology company’s stock, valued at approximately $338,000.

Several other institutional investors have also added to or reduced their stakes in the business. Larson Financial Group LLC raised its stake in shares of Tyler Technologies by 221.4% in the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock worth $26,000 after purchasing an additional 31 shares during the last quarter. Sierra Ocean LLC bought a new stake in Tyler Technologies in the 4th quarter worth about $32,000. Brown Brothers Harriman & Co. raised its position in Tyler Technologies by 300.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock worth $32,000 after buying an additional 42 shares during the last quarter. OFI Invest Asset Management bought a new position in Tyler Technologies during the 4th quarter valued at about $41,000. Finally, Smithfield Trust Co lifted its stake in Tyler Technologies by 55.6% during the 4th quarter. Smithfield Trust Co now owns 84 shares of the technology company’s stock valued at $48,000 after acquiring an additional 30 shares during the period. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Tyler Technologies Stock Performance

TYL opened at $570.61 on Friday. The company has a 50 day simple moving average of $587.73 and a two-hundred day simple moving average of $595.26. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21. The firm has a market cap of $24.60 billion, a P/E ratio of 94.16, a PEG ratio of 4.93 and a beta of 0.84. Tyler Technologies, Inc. has a 1-year low of $399.77 and a 1-year high of $661.31.

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. 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. Wells Fargo & Company reissued an “equal weight” rating and set a $615.00 price target (down from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. Piper Sandler lifted their price objective on Tyler Technologies from $701.00 to $747.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. DA Davidson reissued a “neutral” rating and issued a $575.00 target price on shares of Tyler Technologies in a report on Thursday, January 30th. Finally, The Goldman Sachs Group boosted their price target on Tyler Technologies from $660.00 to $728.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Tyler Technologies presently has an average rating of “Moderate Buy” and an average price target of $675.00.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,514 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total value of $4,022,981.26. Following the sale, the chief executive officer now owns 75,734 shares in the company, valued at $46,772,561.06. The trade was a 7.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian K. Miller sold 1,550 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $613.58, for a total transaction of $951,049.00. Following the transaction, the chief financial officer now directly owns 14,026 shares of the company’s stock, valued at $8,606,073.08. This trade represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,064 shares of company stock valued at $8,688,030. 2.20% of the stock is 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.