Empowered Funds LLC Has $2.07 Million Stake in Tyler Technologies, Inc. (NYSE:TYL)

Empowered Funds LLC raised its position in Tyler Technologies, Inc. (NYSE:TYL) by 54.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 3,588 shares of the technology company’s stock after buying an additional 1,267 shares during the period. Empowered Funds LLC’s holdings in Tyler Technologies were worth $2,069,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB boosted its position in Tyler Technologies by 18.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the technology company’s stock valued at $78,000 after buying an additional 21 shares during the last quarter. Baron Wealth Management LLC boosted its position in Tyler Technologies by 1.5% in the 4th quarter. Baron Wealth Management LLC now owns 1,487 shares of the technology company’s stock valued at $857,000 after buying an additional 22 shares during the last quarter. Choreo LLC boosted its position in Tyler Technologies by 3.9% in the 4th quarter. Choreo LLC now owns 647 shares of the technology company’s stock valued at $374,000 after buying an additional 24 shares during the last quarter. Oak Ridge Investments LLC boosted its position in Tyler Technologies by 0.8% in the 4th quarter. Oak Ridge Investments LLC now owns 3,011 shares of the technology company’s stock valued at $1,736,000 after buying an additional 25 shares during the last quarter. Finally, Mather Group LLC. boosted its position in Tyler Technologies by 9.0% in the 4th quarter. Mather Group LLC. now owns 315 shares of the technology company’s stock valued at $182,000 after buying an additional 26 shares during the last quarter. 93.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $633.55, for a total transaction of $3,801,300.00. Following the completion of the transaction, the insider now owns 6,983 shares in the company, valued at approximately $4,424,079.65. This trade represents a 46.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brian K. Miller sold 6,752 shares of Tyler Technologies stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $613.75, for a total value of $4,144,040.00. Following the transaction, the chief financial officer now owns 11,918 shares of the company’s stock, valued at $7,314,672.50. The trade was a 36.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,502 shares of company stock worth $18,941,368. Company insiders own 2.20% of the company’s stock.

Tyler Technologies Price Performance

NYSE:TYL opened at $642.39 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21. The stock’s 50-day simple moving average is $596.21 and its 200 day simple moving average is $594.15. The company has a market cap of $27.49 billion, a P/E ratio of 117.22, a P/E/G ratio of 4.78 and a beta of 0.78. Tyler Technologies, Inc. has a 52-week low of $397.80 and a 52-week high of $661.31.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. As a group, sell-side analysts forecast that Tyler Technologies, Inc. will post 7.36 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on TYL shares. Barclays raised their price target on Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a research report on Friday. Truist Financial reaffirmed a “buy” rating and set a $775.00 price objective (up previously from $685.00) on shares of Tyler Technologies in a research note on Friday. DA Davidson reaffirmed a “neutral” rating and set a $575.00 price objective on shares of Tyler Technologies in a research note on Thursday, January 30th. Piper Sandler lifted their price target on Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a research note on Friday. Finally, StockNews.com raised Tyler Technologies from a “hold” rating to a “buy” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $656.92.

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.