Tyler Technologies, Inc. (NYSE:TYL) Stock Position Boosted by Perpetual Ltd

Perpetual Ltd raised its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 17.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 774 shares of the technology company’s stock after buying an additional 115 shares during the period. Perpetual Ltd’s holdings in Tyler Technologies were worth $450,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TYL. Norges Bank bought a new stake in Tyler Technologies during the fourth quarter worth approximately $528,465,000. GAMMA Investing LLC raised its stake in shares of Tyler Technologies by 57,694.7% in the 1st quarter. GAMMA Investing LLC now owns 878,480 shares of the technology company’s stock worth $510,739,000 after buying an additional 876,960 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Tyler Technologies in the 4th quarter worth $159,947,000. Wealthfront Advisers LLC lifted its holdings in shares of Tyler Technologies by 8,973.6% in the fourth quarter. Wealthfront Advisers LLC now owns 154,433 shares of the technology company’s stock valued at $89,052,000 after buying an additional 152,731 shares during the period. Finally, Marshall Wace LLP boosted its stake in Tyler Technologies by 897.6% during the fourth quarter. Marshall Wace LLP now owns 112,210 shares of the technology company’s stock valued at $64,705,000 after buying an additional 100,962 shares in the last quarter. 93.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TYL shares. Wall Street Zen cut shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. Barclays dropped their target price on shares of Tyler Technologies from $700.00 to $695.00 and set an “overweight” rating on the stock in a report on Friday, April 25th. Piper Sandler reduced their target price on shares of Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating for the company in a report on Friday, April 25th. DA Davidson decreased their price target on shares of Tyler Technologies from $595.00 to $570.00 and set a “neutral” rating on the stock in a research report on Friday, April 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $750.00 price target on shares of Tyler Technologies in a report on Tuesday, May 13th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $680.50.

Insider Buying and Selling

In related news, CFO Brian K. Miller sold 1,033 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $557.45, for a total transaction of $575,845.85. Following the transaction, the chief financial officer now directly owns 13,028 shares of the company’s stock, valued at approximately $7,262,458.60. The trade was a 7.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Daniel M. Pope sold 365 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $550.00, for a total transaction of $200,750.00. Following the completion of the transaction, the director now owns 2,853 shares in the company, valued at approximately $1,569,150. This represents a 11.34% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,500 shares of company stock valued at $15,177,230. Corporate insiders own 1.10% of the company’s stock.

Tyler Technologies Stock Performance

NYSE TYL opened at $581.50 on Friday. The firm’s 50 day moving average price is $567.18 and its two-hundred day moving average price is $581.32. Tyler Technologies, Inc. has a twelve month low of $495.21 and a twelve month high of $661.31. The stock has a market cap of $25.07 billion, a price-to-earnings ratio of 87.58, a PEG ratio of 4.54 and a beta of 0.84.

Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, April 23rd. The technology company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.56 by $0.22. Tyler Technologies had a return on equity of 10.29% and a net margin of 13.23%. The business had revenue of $562.43 million during the quarter, compared to analysts’ expectations of $556.45 million. During the same quarter last year, the firm posted $2.20 earnings per share. Tyler Technologies’s revenue was up 10.3% compared to the same quarter last year. On average, research analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

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.