Quantbot Technologies LP Acquires Shares of 4,268 Tyler Technologies, Inc. (NYSE:TYL)

Quantbot Technologies LP purchased a new position in shares of Tyler Technologies, Inc. (NYSE:TYL) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,268 shares of the technology company’s stock, valued at approximately $2,491,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. APG Asset Management N.V. boosted its holdings in shares of Tyler Technologies by 1.4% in the 2nd quarter. APG Asset Management N.V. now owns 1,507,062 shares of the technology company’s stock worth $706,994,000 after buying an additional 20,842 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Tyler Technologies by 4.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 904,175 shares of the technology company’s stock valued at $527,785,000 after acquiring an additional 36,066 shares during the last quarter. Swedbank AB bought a new position in shares of Tyler Technologies during the 2nd quarter valued at approximately $251,390,000. International Assets Investment Management LLC increased its stake in shares of 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 purchasing an additional 307,498 shares during the last quarter. Finally, EULAV Asset Management raised its holdings in shares of Tyler Technologies by 3.0% in the 3rd quarter. EULAV Asset Management now owns 228,984 shares of the technology company’s stock worth $133,663,000 after purchasing an additional 6,601 shares during the period. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TYL. Truist Financial reissued a “buy” rating and issued a $685.00 price objective (up previously from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. Needham & Company LLC lifted 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. Piper Sandler boosted their price objective on Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. JMP Securities raised their target price 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. Finally, DA Davidson upped their price target on Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Tyler Technologies presently has an average rating of “Moderate Buy” and an average price target of $642.62.

Insider Activity

In other news, insider John S. Marr, Jr. sold 12,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $613.66, for a total value of $7,363,920.00. Following the completion of the sale, the insider now owns 6,983 shares of the company’s stock, valued at approximately $4,285,187.78. The trade was a 63.21 % decrease in their position. The transaction was disclosed in a legal 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 that occurred on Friday, November 8th. The stock was sold at an average price of $624.41, for a total value of $1,561,025.00. Following the transaction, the chief financial officer now owns 11,950 shares in the company, valued at approximately $7,461,699.50. The trade was 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 37,100 shares of company stock valued at $22,309,090. Corporate insiders own 2.20% of the company’s stock.

Tyler Technologies Trading Down 0.7 %

Shares of TYL stock opened at $630.44 on Friday. The business has a 50-day moving average price of $598.13 and a two-hundred day moving average price of $554.74. Tyler Technologies, Inc. has a 12-month low of $397.80 and a 12-month high of $637.53. 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 firm has a market cap of $26.98 billion, a P/E ratio of 115.04, a price-to-earnings-growth ratio of 5.65 and a beta of 0.77.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share 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 company 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 EPS. Tyler Technologies’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities analysts anticipate that Tyler Technologies, Inc. will post 7.36 EPS for the current fiscal year.

About Tyler Technologies

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.