Meridian Wealth Management LLC Takes Position in Tyler Technologies, Inc. (NYSE:TYL)

Meridian Wealth Management LLC purchased a new stake in shares of Tyler Technologies, Inc. (NYSE:TYL) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 757 shares of the technology company’s stock, valued at approximately $442,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in shares of Tyler Technologies during the 3rd quarter valued at approximately $27,000. Independence Bank of Kentucky bought a new stake in Tyler Technologies during the 2nd quarter worth approximately $25,000. 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 during the last quarter. Lynx Investment Advisory bought a new stake in Tyler Technologies during the 2nd quarter worth approximately $38,000. Finally, International Assets Investment Management LLC bought a new stake in Tyler Technologies during the 2nd quarter worth approximately $61,000. 93.30% of the stock is owned by institutional investors.

Insider Activity at Tyler Technologies

In related news, CEO H Lynn Moore, Jr. sold 6,250 shares of the firm’s stock in a transaction dated 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 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Brian K. Miller sold 2,500 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $624.41, for a total transaction of $1,561,025.00. Following the sale, the chief financial officer now owns 11,950 shares of the company’s stock, valued at $7,461,699.50. This trade represents a 17.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,600 shares of company stock valued at $16,412,595 over the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Tyler Technologies Stock Up 2.0 %

Tyler Technologies stock opened at $609.09 on Monday. Tyler Technologies, Inc. has a 1-year low of $397.80 and a 1-year high of $631.43. The firm has a market capitalization of $26.07 billion, a price-to-earnings ratio of 111.15, a price-to-earnings-growth ratio of 5.41 and a beta of 0.77. The firm’s fifty day moving average price is $595.22 and its two-hundred day moving average price is $552.15. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on TYL shares. Needham & Company LLC upped their price objective on shares of Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Barclays upped their price objective on shares of Tyler Technologies from $700.00 to $705.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. DA Davidson upped their price objective on shares of Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. JMP Securities upped their price objective on shares of Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a research note on Friday, October 25th. Finally, StockNews.com lowered shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Tyler Technologies has a consensus rating of “Moderate Buy” and an average price target of $642.62.

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.