Burney Co. Boosts Position in Tyler Technologies, Inc. (NYSE:TYL)

Burney Co. grew its position in Tyler Technologies, Inc. (NYSE:TYL) by 21.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 977 shares of the technology company’s stock after buying an additional 170 shares during the quarter. Burney Co.’s holdings in Tyler Technologies were worth $563,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Oak Thistle LLC increased its holdings in Tyler Technologies by 213.7% during the 4th quarter. Oak Thistle LLC now owns 2,328 shares of the technology company’s stock valued at $1,342,000 after acquiring an additional 1,586 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of Tyler Technologies in the third quarter valued at approximately $1,309,000. Maiden Cove Capital LLC purchased a new position in shares of Tyler Technologies during the 3rd quarter worth approximately $583,000. Assetmark Inc. raised its position in shares of Tyler Technologies by 9.4% during the 3rd quarter. Assetmark Inc. now owns 9,910 shares of the technology company’s stock worth $5,785,000 after purchasing an additional 854 shares during the last quarter. Finally, MBB Public Markets I LLC purchased a new stake in Tyler Technologies in the 2nd quarter valued at approximately $1,564,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

Tyler Technologies Trading Down 1.1 %

TYL stock opened at $569.18 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18. The company has a market cap of $24.36 billion, a price-to-earnings ratio of 103.87, a PEG ratio of 4.35 and a beta of 0.78. The business has a fifty day simple moving average of $600.60 and a 200-day simple moving average of $583.07. Tyler Technologies, Inc. has a 52 week low of $397.80 and a 52 week high of $638.56.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.43 by $0.09. The company had revenue of $543.34 million during the quarter, compared to analyst estimates of $547.34 million. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.66 earnings per share. On average, equities research analysts expect that Tyler Technologies, Inc. will post 7.36 EPS for the current year.

Insider Activity at Tyler Technologies

In related news, CEO H Lynn Moore, Jr. sold 6,250 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $605.82, for a total transaction of $3,786,375.00. Following the completion of the sale, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at approximately $45,436,500. This represents a 7.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian K. Miller sold 6,752 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $613.75, for a total value of $4,144,040.00. Following the completion of the transaction, the chief financial officer now directly owns 11,918 shares in the company, valued at $7,314,672.50. This trade represents a 36.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,252 shares of company stock worth $26,096,928. Company insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

TYL has been the subject of several recent research reports. DA Davidson boosted their price target on Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Truist Financial reiterated a “buy” rating and set a $685.00 price objective (up previously from $600.00) on shares of Tyler Technologies in a research report on Friday, October 25th. Barclays upped their target price on shares of Tyler Technologies from $700.00 to $705.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Robert W. Baird lifted their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, StockNews.com downgraded shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tyler Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $643.77.

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.