Ashton Thomas Securities LLC Purchases New Position in Tyler Technologies, Inc. (NYSE:TYL)

Ashton Thomas Securities LLC acquired a new position in shares of Tyler Technologies, Inc. (NYSE:TYL) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 46 shares of the technology company’s stock, valued at approximately $27,000.

Several other institutional investors also recently bought and sold shares of the company. Independence Bank of Kentucky bought a new position in shares of Tyler Technologies during the 2nd quarter worth $25,000. Covestor Ltd lifted its stake in Tyler Technologies by 153.6% in the first quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after acquiring an additional 43 shares during the period. Blue Trust Inc. grew its holdings in Tyler Technologies by 329.4% during the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after acquiring an additional 56 shares in the last quarter. Lynx Investment Advisory purchased a new position in Tyler Technologies during the 2nd quarter valued at about $38,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Tyler Technologies in the 2nd quarter valued at about $61,000. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Tyler Technologies Stock Performance

Shares of TYL opened at $614.28 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a 50-day moving average of $593.46 and a two-hundred day moving average of $545.54. The stock has a market cap of $26.29 billion, a P/E ratio of 112.10, a P/E/G ratio of 5.59 and a beta of 0.77. Tyler Technologies, Inc. has a one year low of $397.80 and a one year high of $631.43.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The firm had revenue of $543.34 million during the quarter, compared to the consensus estimate of $547.34 million. During the same quarter in the previous year, the company posted $1.66 earnings per share. The company’s revenue was up 9.8% compared to the same quarter last year. As a group, research analysts predict that Tyler Technologies, Inc. will post 7.39 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Robert W. Baird lifted their price objective on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th. JMP Securities upped their price objective on Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a research note on Friday, October 25th. DA Davidson raised their price objective on Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Needham & Company LLC boosted their target price on shares of Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Truist Financial restated a “buy” rating and issued a $685.00 price target (up from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Tyler Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $642.62.

Insider Activity

In other news, insider John S. Marr, Jr. sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $578.94, for a total value of $2,894,700.00. Following the completion of the transaction, the insider now owns 6,983 shares of the company’s stock, valued at $4,042,738.02. The trade was a 41.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $605.82, for a total value of $3,786,375.00. Following the sale, the chief executive officer now directly owns 75,000 shares in the company, valued at approximately $45,436,500. This trade represents a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,600 shares of company stock valued at $19,307,295 in the last ninety days. Insiders own 2.20% of the company’s stock.

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.