State of Michigan Retirement System Boosts Stock Holdings in Tyler Technologies, Inc. (NYSE:TYL)

State of Michigan Retirement System raised its stake in Tyler Technologies, Inc. (NYSE:TYL) by 0.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,637 shares of the technology company’s stock after acquiring an additional 100 shares during the period. State of Michigan Retirement System’s holdings in Tyler Technologies were worth $5,851,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of TYL. Independence Bank of Kentucky bought a new stake in shares of Tyler Technologies in the second quarter worth about $25,000. Kapitalo Investimentos Ltda bought a new position in Tyler Technologies during the fourth quarter valued at approximately $26,000. Covestor Ltd grew its holdings in Tyler Technologies by 153.6% during the 1st quarter. Covestor Ltd now owns 71 shares of the technology company’s stock valued at $30,000 after buying an additional 43 shares in the last quarter. Blue Trust Inc. increased its stake in Tyler Technologies by 329.4% in 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. Finally, Lynx Investment Advisory purchased a new stake in shares of Tyler Technologies during the 2nd quarter worth approximately $38,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Insiders Place Their Bets

In other Tyler Technologies news, CFO Brian K. Miller sold 800 shares of Tyler Technologies stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $479.28, for a total transaction of $383,424.00. Following the completion of the sale, the chief financial officer now directly owns 12,736 shares of the company’s stock, valued at approximately $6,104,110.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Brian K. Miller sold 800 shares of Tyler Technologies stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $479.28, for a total transaction of $383,424.00. Following the transaction, the chief financial officer now directly owns 12,736 shares of the company’s stock, valued at $6,104,110.08. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John S. Marr, Jr. sold 5,000 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $578.94, for a total value of $2,894,700.00. Following the sale, the insider now directly owns 6,983 shares in the company, valued at approximately $4,042,738.02. The disclosure for this sale can be found here. Insiders have sold 20,325 shares of company stock worth $11,068,068 in the last three months. Corporate insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

TYL has been the subject of a number of recent research reports. Wells Fargo & Company raised their target price on shares of Tyler Technologies from $580.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Barclays lifted their price objective on shares of Tyler Technologies from $515.00 to $577.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Evercore ISI upgraded shares of Tyler Technologies to a “hold” rating in a research report on Friday, July 26th. The Goldman Sachs Group lifted their price target on Tyler Technologies from $515.00 to $627.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Needham & Company LLC reissued a “buy” rating and set a $600.00 price objective on shares of Tyler Technologies in a research note on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $582.31.

Tyler Technologies Stock Performance

Shares of Tyler Technologies stock opened at $571.75 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.19. The stock’s fifty day moving average is $538.61 and its two-hundred day moving average is $478.83. Tyler Technologies, Inc. has a 52 week low of $361.16 and a 52 week high of $593.50. The company has a market capitalization of $24.27 billion, a PE ratio of 129.34, a price-to-earnings-growth ratio of 5.40 and a beta of 0.76.

Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, July 24th. The technology company reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.06. The firm had revenue of $540.98 million during the quarter, compared to analyst estimates of $541.01 million. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. The business’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.53 earnings per share. As a group, analysts expect that Tyler Technologies, Inc. will post 7.21 earnings per share 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.