Wilmington Savings Fund Society FSB Purchases New Shares in Tyler Technologies, Inc. (NYSE:TYL)

Wilmington Savings Fund Society FSB acquired a new position in Tyler Technologies, Inc. (NYSE:TYL) in the 3rd quarter, Holdings Channel reports. The firm acquired 1,116 shares of the technology company’s stock, valued at approximately $651,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. APG Asset Management N.V. increased its position in shares of Tyler Technologies by 1.4% during the second quarter. APG Asset Management N.V. now owns 1,507,062 shares of the technology company’s stock valued at $706,994,000 after buying an additional 20,842 shares during the period. Geode Capital Management LLC boosted its position in Tyler Technologies by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,108,908 shares of the technology company’s stock valued at $645,585,000 after acquiring an additional 24,284 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Tyler Technologies by 4.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 904,175 shares of the technology company’s stock worth $527,785,000 after acquiring an additional 36,066 shares during the period. International Assets Investment Management LLC raised its position in shares of Tyler Technologies by 252,047.5% in 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 in the last quarter. Finally, EULAV Asset Management lifted its stake 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 valued at $133,663,000 after purchasing an additional 6,601 shares during the period. 93.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on TYL. Oppenheimer raised their price objective on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Needham & Company LLC boosted their target price on Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Piper Sandler lifted their price target on Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. DA Davidson increased their price objective 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. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $627.00 target price on shares of Tyler Technologies in a report on Friday, September 13th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $642.62.

Insiders Place Their Bets

In other news, CFO Brian K. Miller sold 3,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $602.72, for a total value of $1,808,160.00. Following the completion of the sale, the chief financial officer now directly owns 11,950 shares in the company, valued at $7,202,504. This represents a 20.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of Tyler Technologies stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $605.82, for a total value of $3,786,375.00. Following the transaction, the chief executive officer now owns 75,000 shares in the company, valued at $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. Over the last three months, insiders have sold 35,500 shares of company stock valued at $21,952,888. Insiders own 2.20% of the company’s stock.

Tyler Technologies Stock Down 2.6 %

Shares of Tyler Technologies stock opened at $611.65 on Monday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies, Inc. has a twelve month low of $397.80 and a twelve month high of $638.56. The company has a market cap of $26.18 billion, a price-to-earnings ratio of 111.62, a price-to-earnings-growth ratio of 5.54 and a beta of 0.76. The company’s 50 day moving average is $608.72 and its 200 day moving average is $566.76.

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 the consensus estimate of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The firm had revenue of $543.34 million for the quarter, compared to analysts’ expectations of $547.34 million. During the same period in the prior year, the firm earned $1.66 EPS. The company’s revenue was up 9.8% compared to the same quarter last year. Research analysts anticipate that Tyler Technologies, Inc. will post 7.36 EPS for the current year.

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.