Geode Capital Management LLC Boosts Stock Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Geode Capital Management LLC increased its stake in Tyler Technologies, Inc. (NYSE:TYL) by 2.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,108,908 shares of the technology company’s stock after acquiring an additional 24,284 shares during the period. Geode Capital Management LLC owned about 2.59% of Tyler Technologies worth $645,585,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Ashton Thomas Securities LLC bought a new position in shares of Tyler Technologies during the third quarter valued at about $27,000. Independence Bank of Kentucky purchased a new position in Tyler Technologies during the 2nd quarter valued at about $25,000. Blue Trust Inc. raised its position in Tyler Technologies by 329.4% during the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock valued at $37,000 after purchasing an additional 56 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Tyler Technologies in the 2nd quarter worth approximately $61,000. Finally, Quarry LP bought a new stake in shares of Tyler Technologies in the 3rd quarter worth approximately $78,000. 93.30% of the stock is owned by hedge funds and other institutional investors.

Tyler Technologies Trading Up 0.5 %

Tyler Technologies stock opened at $628.38 on Friday. Tyler Technologies, Inc. has a 12 month low of $397.80 and a 12 month high of $638.56. The company has a market capitalization of $26.89 billion, a price-to-earnings ratio of 114.67, a price-to-earnings-growth ratio of 5.66 and a beta of 0.76. The business’s fifty day simple moving average is $608.09 and its two-hundred day simple moving average is $564.69. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.43 by $0.09. The company had revenue of $543.34 million for the quarter, compared to the consensus estimate of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. Tyler Technologies’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.66 EPS. As a group, equities analysts predict that Tyler Technologies, Inc. will post 7.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. JMP Securities upped their target price on Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a report on Friday, October 25th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $627.00 target price on shares of Tyler Technologies in a research report on Friday, September 13th. Oppenheimer boosted their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Piper Sandler raised their price objective on shares of Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, Robert W. Baird lifted their price objective on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $642.62.

Insider Activity

In other news, CFO Brian K. Miller sold 2,500 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $632.01, for a total transaction of $1,580,025.00. Following the transaction, the chief financial officer now directly owns 12,198 shares of the company’s stock, valued at $7,709,257.98. This represents a 17.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John S. Marr, Jr. sold 12,000 shares of Tyler Technologies stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $613.66, for a total value of $7,363,920.00. Following the completion of the sale, the insider now owns 6,983 shares of the company’s stock, valued at $4,285,187.78. The trade was a 63.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,500 shares of company stock worth $21,952,888 over the last 90 days. 2.20% of the stock is currently owned by insiders.

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.