Wedmont Private Capital Increases Stake in Tyler Technologies, Inc. (NYSE:TYL)

Wedmont Private Capital grew its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 28.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 529 shares of the technology company’s stock after acquiring an additional 117 shares during the period. Wedmont Private Capital’s holdings in Tyler Technologies were worth $301,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TYL. Norges Bank purchased a new stake in shares of Tyler Technologies in the 4th quarter worth $528,465,000. GAMMA Investing LLC grew its holdings in Tyler Technologies by 57,694.7% during the first quarter. GAMMA Investing LLC now owns 878,480 shares of the technology company’s stock valued at $510,739,000 after purchasing an additional 876,960 shares during the period. Van ECK Associates Corp increased its position in Tyler Technologies by 1,991.8% in the fourth quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock worth $317,486,000 after buying an additional 524,259 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Tyler Technologies in the fourth quarter worth about $159,947,000. Finally, Wealthfront Advisers LLC raised its stake in shares of Tyler Technologies by 8,973.6% in the fourth quarter. Wealthfront Advisers LLC now owns 154,433 shares of the technology company’s stock worth $89,052,000 after buying an additional 152,731 shares during the period. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Tyler Technologies Price Performance

Shares of NYSE:TYL opened at $583.69 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. The firm has a market cap of $25.17 billion, a price-to-earnings ratio of 96.32, a P/E/G ratio of 4.93 and a beta of 0.84. The firm has a fifty day moving average price of $561.95 and a 200 day moving average price of $585.54. Tyler Technologies, Inc. has a fifty-two week low of $458.50 and a fifty-two week high of $661.31.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 EPS for the quarter, beating the consensus estimate of $2.56 by $0.22. The business had revenue of $562.43 million during the quarter, compared to the consensus estimate of $556.45 million. Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. The business’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.20 EPS. As a group, sell-side analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tyler Technologies news, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $573.60, for a total transaction of $215,100.00. Following the completion of the transaction, the insider now owns 247 shares in the company, valued at $141,679.20. This trade represents a 60.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Brian K. Miller sold 1,200 shares of Tyler Technologies stock in a transaction on Friday, June 6th. The stock was sold at an average price of $577.66, for a total transaction of $693,192.00. Following the completion of the transaction, the chief financial officer now directly owns 17,475 shares of the company’s stock, valued at $10,094,608.50. The trade was a 6.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,806 shares of company stock worth $10,092,030. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

TYL has been the subject of a number of recent research reports. Piper Sandler cut their price objective on Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. The Goldman Sachs Group upped their price target on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Truist Financial reissued a “buy” rating and issued a $775.00 price objective (up from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. DA Davidson lowered their target price on shares of Tyler Technologies from $595.00 to $570.00 and set a “neutral” rating on the stock in a research note on Friday, April 25th. Finally, Barclays cut their price target on Tyler Technologies from $700.00 to $695.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Tyler Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $680.50.

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.