Twinbeech Capital LP Purchases New Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Twinbeech Capital LP purchased a new stake in shares of Tyler Technologies, Inc. (NYSE:TYL) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 58,771 shares of the technology company’s stock, valued at approximately $33,890,000.

A number of other large investors also recently bought and sold shares of TYL. Larson Financial Group LLC lifted its position in Tyler Technologies by 221.4% during the 4th quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock valued at $26,000 after acquiring an additional 31 shares during the period. Sierra Ocean LLC purchased a new position in Tyler Technologies during the 4th quarter valued at about $32,000. Brown Brothers Harriman & Co. lifted its position in Tyler Technologies by 300.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock valued at $32,000 after acquiring an additional 42 shares during the period. Kapitalo Investimentos Ltda purchased a new position in Tyler Technologies during the 4th quarter valued at about $40,000. Finally, OFI Invest Asset Management purchased a new position in Tyler Technologies during the 4th quarter valued at about $41,000. 93.30% of the stock is owned by hedge funds and other institutional investors.

Tyler Technologies Stock Performance

Shares of TYL stock opened at $576.86 on Monday. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. The company has a 50 day moving average price of $561.21 and a 200-day moving average price of $589.43. Tyler Technologies, Inc. has a 52 week low of $458.50 and a 52 week high of $661.31. The firm has a market capitalization of $24.88 billion, a PE ratio of 95.19, a P/E/G ratio of 4.93 and a beta of 0.88.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on TYL. Piper Sandler lowered their price target on shares of Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating for the company in a research report on Friday, April 25th. StockNews.com upgraded shares of Tyler Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, May 10th. DA Davidson reduced their price objective on shares of Tyler Technologies from $595.00 to $570.00 and set a “neutral” rating for the company in a research note on Friday, April 25th. Barclays reduced their price objective on shares of Tyler Technologies from $700.00 to $695.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. Finally, Wells Fargo & Company reduced their price objective on shares of Tyler Technologies from $640.00 to $610.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $674.67.

Insider Transactions at Tyler Technologies

In related news, CEO H Lynn Moore, Jr. sold 6,514 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the completion of the sale, the chief executive officer now directly owns 75,734 shares in the company, valued at approximately $46,772,561.06. The trade was a 7.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John S. Marr, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $558.86, for a total transaction of $2,794,300.00. Following the sale, the insider now owns 6,983 shares of the company’s stock, valued at $3,902,519.38. This trade represents a 41.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,462 shares of company stock worth $12,258,926 in the last ninety days. Insiders own 1.10% of the company’s stock.

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.