Tyler Technologies, Inc. (NYSE:TYL) Shares Acquired by Procyon Advisors LLC

Procyon Advisors LLC increased its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 7.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,218 shares of the technology company’s stock after purchasing an additional 159 shares during the quarter. Procyon Advisors LLC’s holdings in Tyler Technologies were worth $1,290,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Larson Financial Group LLC raised its stake in shares of Tyler Technologies by 221.4% during the 4th quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock worth $26,000 after buying an additional 31 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new position in Tyler Technologies during the 1st quarter valued at about $26,000. Sierra Ocean LLC purchased a new position in Tyler Technologies during the 4th quarter valued at about $32,000. Brown Brothers Harriman & Co. raised its position in Tyler Technologies by 300.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock worth $32,000 after acquiring an additional 42 shares during the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Tyler Technologies in the fourth quarter valued at about $40,000. 93.30% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tyler Technologies

In other news, CFO Brian K. Miller sold 3,333 shares of Tyler Technologies stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $568.46, for a total value of $1,894,677.18. Following the transaction, the chief financial officer now directly owns 11,231 shares of the company’s stock, valued at $6,384,374.26. The trade was a 22.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider John S. Marr, Jr. sold 5,000 shares of the business’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $558.86, for a total value 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. The trade was a 41.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,231 shares of company stock worth $9,183,738 in the last ninety days. Insiders own 1.10% of the company’s stock.

Tyler Technologies Stock Up 0.6%

TYL opened at $577.12 on Friday. Tyler Technologies, Inc. has a 12 month low of $458.50 and a 12 month high of $661.31. The business has a 50-day moving average of $560.75 and a two-hundred day moving average of $585.82. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21. The stock has a market capitalization of $24.89 billion, a price-to-earnings ratio of 95.23, a price-to-earnings-growth ratio of 4.93 and a beta of 0.84.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share (EPS) for the quarter, topping 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 business had revenue of $562.43 million for the quarter, compared to analysts’ expectations of $556.45 million. During the same period last year, the company earned $2.20 earnings per share. The company’s quarterly revenue was up 10.3% on a year-over-year basis. On average, research analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Analysts Set New Price Targets

TYL has been the subject of a number of recent research reports. Barclays dropped 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. The Goldman Sachs Group boosted their price target on Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. DA Davidson reduced their price objective on Tyler Technologies from $595.00 to $570.00 and set a “neutral” rating on the stock in a research report on Friday, April 25th. 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, February 14th. Finally, Piper Sandler cut their target price on shares of Tyler Technologies from $747.00 to $708.00 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 given a buy rating to the stock. According to MarketBeat.com, Tyler Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $680.50.

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.