Rafferty Asset Management LLC Has $8.40 Million Stock Position in Tyler Technologies, Inc. (NYSE:TYL)

Rafferty Asset Management LLC grew its position in Tyler Technologies, Inc. (NYSE:TYL) by 0.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 14,565 shares of the technology company’s stock after buying an additional 31 shares during the period. Rafferty Asset Management LLC’s holdings in Tyler Technologies were worth $8,399,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. grew its stake in shares of Tyler Technologies by 20.7% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 42,500 shares of the technology company’s stock worth $24,507,000 after purchasing an additional 7,300 shares during the period. Kensington Investment Counsel LLC grew its stake in shares of Tyler Technologies by 0.8% during the fourth quarter. Kensington Investment Counsel LLC now owns 2,496 shares of the technology company’s stock worth $1,439,000 after purchasing an additional 20 shares during the period. Barclays PLC grew its stake in shares of Tyler Technologies by 2.5% during the third quarter. Barclays PLC now owns 88,296 shares of the technology company’s stock worth $51,543,000 after purchasing an additional 2,169 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Tyler Technologies by 148.2% during the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock worth $269,369,000 after purchasing an additional 275,511 shares during the period. Finally, Swedbank AB grew its stake in shares of Tyler Technologies by 1.7% during the fourth quarter. Swedbank AB now owns 459,850 shares of the technology company’s stock worth $265,168,000 after purchasing an additional 7,838 shares during the period. 93.30% of the stock is owned by institutional investors and hedge funds.

Tyler Technologies Trading Up 0.7%

Shares of NYSE:TYL opened at $576.86 on Friday. The company has a market capitalization of $24.88 billion, a P/E ratio of 95.19, a P/E/G ratio of 4.93 and a beta of 0.88. Tyler Technologies, Inc. has a 1 year low of $458.50 and a 1 year high of $661.31. 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 business’s 50 day simple moving average is $561.21 and its 200 day simple moving average is $589.54.

Tyler Technologies (NYSE:TYL) last issued 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. The business had revenue of $562.43 million for the quarter, compared to the consensus estimate of $556.45 million. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.20 earnings per share. On average, research analysts anticipate that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Insider Buying and Selling

In other Tyler Technologies news, insider John S. Marr, Jr. sold 5,000 shares of the company’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $558.86, for a total transaction of $2,794,300.00. Following the completion of the sale, the insider now directly owns 6,983 shares in the company, valued at $3,902,519.38. This represents a 41.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian K. Miller sold 1,550 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $613.58, for a total value of $951,049.00. Following the sale, the chief financial officer now owns 14,026 shares of the company’s stock, valued at $8,606,073.08. The trade was a 9.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,462 shares of company stock valued at $12,258,926 over the last 90 days. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TYL has been the subject of a number of analyst reports. Truist Financial reaffirmed a “buy” rating and set a $775.00 price objective (up from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. StockNews.com raised Tyler Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, May 10th. Robert W. Baird decreased their target price on Tyler Technologies from $785.00 to $700.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. The Goldman Sachs Group boosted their target price on Tyler Technologies from $660.00 to $728.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company decreased their target price on 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 analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Tyler Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $674.67.

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.