LMR Partners LLP Takes $23.38 Million Position in Tyler Technologies, Inc. (NYSE:TYL)

LMR Partners LLP acquired a new position in Tyler Technologies, Inc. (NYSE:TYL) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 40,059 shares of the technology company’s stock, valued at approximately $23,383,000. LMR Partners LLP owned 0.09% of Tyler Technologies as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Swedbank AB acquired a new stake in shares of Tyler Technologies in the second quarter worth $251,390,000. International Assets Investment Management LLC boosted its position in Tyler Technologies by 252,047.5% during the 3rd quarter. International Assets Investment Management LLC now owns 307,620 shares of the technology company’s stock worth $179,564,000 after acquiring an additional 307,498 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Tyler Technologies by 15.3% in the 1st quarter. Janus Henderson Group PLC now owns 532,935 shares of the technology company’s stock valued at $226,501,000 after purchasing an additional 70,801 shares during the period. Quantum Capital Management LLC NJ lifted its position in shares of Tyler Technologies by 179.4% in the first quarter. Quantum Capital Management LLC NJ now owns 107,760 shares of the technology company’s stock worth $45,799,000 after purchasing an additional 69,189 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Tyler Technologies by 18.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 424,982 shares of the technology company’s stock worth $180,622,000 after purchasing an additional 65,814 shares during the period. Institutional investors and hedge funds own 93.30% of the company’s stock.

Tyler Technologies Price Performance

Shares of Tyler Technologies stock opened at $597.10 on Monday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The firm has a fifty day simple moving average of $593.78 and a 200-day simple moving average of $547.67. The stock has a market capitalization of $25.56 billion, a price-to-earnings ratio of 108.96, a PEG ratio of 5.39 and a beta of 0.77. Tyler Technologies, Inc. has a 1-year low of $397.80 and a 1-year high of $631.43.

Tyler Technologies (NYSE:TYL) last announced its 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. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The firm had revenue of $543.34 million for the quarter, compared to the consensus estimate of $547.34 million. During the same quarter last year, the firm posted $1.66 EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. On average, sell-side analysts expect that Tyler Technologies, Inc. will post 7.39 earnings per share for the current year.

Insider Buying and Selling

In other Tyler Technologies news, insider John S. Marr, Jr. sold 5,000 shares of Tyler Technologies stock in a transaction that occurred on 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 transaction, the insider now directly 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 at the SEC website. Also, CFO Brian K. Miller sold 2,500 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $586.97, for a total value of $1,467,425.00. Following the completion of the sale, the chief financial officer now directly owns 11,950 shares of the company’s stock, valued at $7,014,291.50. This represents a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,600 shares of company stock valued at $19,307,295. Insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. JMP Securities increased their target price on shares of Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a research report on Friday, October 25th. Evercore ISI raised Tyler Technologies to a “hold” rating in a research report on Friday, July 26th. Barclays lifted their price target on Tyler Technologies from $700.00 to $705.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Wells Fargo & Company increased their price objective on Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, Truist Financial reaffirmed 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. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $642.62.

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.