Conestoga Capital Advisors LLC Boosts Stake in Tyler Technologies, Inc. (NYSE:TYL)

Conestoga Capital Advisors LLC boosted its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 7.4% during the first quarter, Holdings Channel.com reports. The fund owned 95,781 shares of the technology company’s stock after buying an additional 6,615 shares during the quarter. Conestoga Capital Advisors LLC’s holdings in Tyler Technologies were worth $55,686,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Tyler Technologies by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 5,310,401 shares of the technology company’s stock worth $3,062,190,000 after purchasing an additional 62,420 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Tyler Technologies by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 1,136,734 shares of the technology company’s stock worth $654,406,000 after buying an additional 27,826 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Tyler Technologies by 7.9% during the 4th quarter. Franklin Resources Inc. now owns 984,615 shares of the technology company’s stock valued at $567,768,000 after buying an additional 71,869 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Tyler Technologies by 3.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 939,373 shares of the technology company’s stock valued at $541,680,000 after buying an additional 35,198 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Tyler Technologies during the 4th quarter worth $528,465,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Tyler Technologies Stock Performance

NYSE:TYL opened at $589.27 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. Tyler Technologies, Inc. has a fifty-two week low of $458.50 and a fifty-two week high of $661.31. The firm has a market cap of $25.41 billion, a PE ratio of 97.24, a price-to-earnings-growth ratio of 4.93 and a beta of 0.84. The business has a 50 day moving average price of $565.56 and a 200-day moving average price of $583.99.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $556.45 million. During the same quarter last year, the firm earned $2.20 EPS. The company’s revenue was up 10.3% on a year-over-year basis. Equities research analysts predict that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on TYL shares. Piper Sandler reduced their target price on Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating on the stock in a research note on Friday, April 25th. Cantor Fitzgerald started coverage on Tyler Technologies in a research report on Tuesday, June 3rd. They set a “neutral” rating and a $600.00 price objective on the stock. The Goldman Sachs Group raised their price objective on Tyler Technologies from $660.00 to $728.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Barclays cut their target price 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. Finally, Needham & Company LLC reissued a “buy” rating and set a $750.00 price target on shares of Tyler Technologies in a research note on Tuesday, May 13th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Tyler Technologies has a consensus rating of “Moderate Buy” and an average target price of $680.50.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 1,044 shares of the business’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $587.20, for a total transaction of $613,036.80. Following the transaction, the chief financial officer now directly owns 14,972 shares of the company’s stock, valued at approximately $8,791,558.40. The trade was a 6.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO H Lynn Moore, Jr. sold 5,250 shares of the firm’s stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $585.18, for a total transaction of $3,072,195.00. Following the completion of the sale, the chief executive officer now directly owns 81,775 shares of the company’s stock, valued at approximately $47,853,094.50. This represents a 6.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,300 shares of company stock valued at $14,480,366 in the last 90 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.