Verdence Capital Advisors LLC Buys Shares of 525 Tyler Technologies, Inc. (NYSE:TYL)

Verdence Capital Advisors LLC acquired a new stake in shares of Tyler Technologies, Inc. (NYSE:TYL) during the fourth quarter, Holdings Channel.com reports. The fund acquired 525 shares of the technology company’s stock, valued at approximately $220,000.

A number of other hedge funds have also modified their holdings of TYL. Vanguard Group Inc. lifted its stake in shares of Tyler Technologies by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 4,913,419 shares of the technology company’s stock valued at $1,897,268,000 after purchasing an additional 29,578 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Tyler Technologies by 0.4% during the third quarter. Principal Financial Group Inc. now owns 1,268,954 shares of the technology company’s stock valued at $489,994,000 after acquiring an additional 5,013 shares during the period. Morgan Stanley grew its holdings in Tyler Technologies by 21.1% in the 3rd quarter. Morgan Stanley now owns 1,015,713 shares of the technology company’s stock valued at $392,208,000 after buying an additional 177,242 shares during the last quarter. Invesco Ltd. increased its position in Tyler Technologies by 6.5% in the 3rd quarter. Invesco Ltd. now owns 860,928 shares of the technology company’s stock worth $332,439,000 after buying an additional 52,798 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Tyler Technologies by 3.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 823,952 shares of the technology company’s stock valued at $318,161,000 after acquiring an additional 28,157 shares during the period. 93.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on TYL shares. JMP Securities reiterated a “market outperform” rating and set a $490.00 target price on shares of Tyler Technologies in a research note on Friday, February 16th. JPMorgan Chase & Co. lifted their price objective on Tyler Technologies from $500.00 to $526.00 and gave the stock an “overweight” rating in a report on Thursday, February 15th. DA Davidson upped their target price on Tyler Technologies from $412.00 to $434.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. Piper Sandler boosted their price target on shares of Tyler Technologies from $480.00 to $520.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Finally, Needham & Company LLC lifted their target price on shares of Tyler Technologies from $475.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Tyler Technologies has an average rating of “Moderate Buy” and a consensus price target of $460.46.

Tyler Technologies Stock Performance

Shares of TYL stock opened at $418.16 on Wednesday. The stock has a market cap of $17.75 billion, a P/E ratio of 107.50, a P/E/G ratio of 4.05 and a beta of 0.81. The company has a fifty day moving average price of $422.97 and a two-hundred day moving average price of $414.28. Tyler Technologies, Inc. has a one year low of $361.16 and a one year high of $454.74. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.86 and a quick ratio of 0.86.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, February 14th. The technology company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.06. The company had revenue of $480.94 million during the quarter, compared to the consensus estimate of $483.34 million. Tyler Technologies had a return on equity of 8.85% and a net margin of 8.50%. As a group, equities analysts predict that Tyler Technologies, Inc. will post 6.77 EPS for the current year.

Insider Buying and Selling

In related news, CFO Brian K. Miller sold 5,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $442.99, for a total transaction of $2,214,950.00. Following the completion of the sale, the chief financial officer now owns 14,610 shares of the company’s stock, valued at $6,472,083.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Brian K. Miller sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $442.99, for a total transaction of $2,214,950.00. Following the completion of the transaction, the chief financial officer now directly owns 14,610 shares in the company, valued at approximately $6,472,083.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John S. Marr, Jr. sold 6,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $427.82, for a total transaction of $2,780,830.00. Following the completion of the sale, the insider now owns 6,400 shares in the company, valued at approximately $2,738,048. The disclosure for this sale can be found here. Insiders have sold 50,608 shares of company stock valued at $21,974,819 over the last 90 days. 1.50% of the stock is owned by corporate 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.