Argent Capital Management LLC Takes Position in Tyler Technologies, Inc. (NYSE:TYL)

Argent Capital Management LLC bought a new position in shares of Tyler Technologies, Inc. (NYSE:TYL) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,433 shares of the technology company’s stock, valued at approximately $1,980,000.

Other large investors also recently made changes to their positions in the company. USA Financial Formulas increased its stake in Tyler Technologies by 3.5% in the 4th quarter. USA Financial Formulas now owns 1,862 shares of the technology company’s stock valued at $1,074,000 after buying an additional 63 shares during the last quarter. Burney Co. grew its stake in Tyler Technologies by 21.1% in the 4th quarter. Burney Co. now owns 977 shares of the technology company’s stock valued at $563,000 after buying an additional 170 shares during the last quarter. Park Avenue Securities LLC increased its stake in shares of Tyler Technologies by 8.4% during the fourth quarter. Park Avenue Securities LLC now owns 4,274 shares of the technology company’s stock worth $2,465,000 after purchasing an additional 330 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Tyler Technologies by 120.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 81,487 shares of the technology company’s stock worth $46,989,000 after purchasing an additional 44,584 shares during the last quarter. Finally, Board of the Pension Protection Fund acquired a new stake in shares of Tyler Technologies during the fourth quarter worth $750,000. Institutional investors own 93.30% of the company’s stock.

Tyler Technologies Stock Performance

Shares of TYL stock opened at $571.76 on Thursday. The company has a market capitalization of $24.47 billion, a P/E ratio of 104.34, a PEG ratio of 4.35 and a beta of 0.78. Tyler Technologies, Inc. has a fifty-two week low of $397.80 and a fifty-two week high of $638.56. 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 price of $602.48 and a two-hundred day moving average price of $582.64.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TYL shares. DA Davidson lifted their price target on shares of Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Oppenheimer increased their target price 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. Truist Financial reissued a “buy” rating and set a $685.00 price objective (up previously from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. JMP Securities boosted their target price on shares of Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a report on Friday, October 25th. Finally, Needham & Company LLC upped their price target on Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $643.77.

Insider Activity

In related news, CFO Brian K. Miller sold 2,500 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $624.41, for a total value of $1,561,025.00. Following the completion of the sale, the chief financial officer now directly owns 11,950 shares of the company’s stock, valued at approximately $7,461,699.50. This represents a 17.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of the stock in a transaction on Wednesday, November 6th. The stock was 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 trade represents a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,252 shares of company stock worth $26,096,928 over the last three months. 1.50% of the stock is currently owned by corporate insiders.

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.