Versor Investments LP Purchases New Shares in Tyler Technologies, Inc. (NYSE:TYL)

Versor Investments LP acquired a new stake in Tyler Technologies, Inc. (NYSE:TYL) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 800 shares of the technology company’s stock, valued at approximately $402,000.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Tyler Technologies by 1.1% in the first quarter. Vanguard Group Inc. now owns 5,022,053 shares of the technology company’s stock valued at $2,134,423,000 after acquiring an additional 53,005 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Tyler Technologies by 3.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,309,715 shares of the technology company’s stock worth $556,642,000 after purchasing an additional 41,485 shares in the last quarter. Norges Bank bought a new position in shares of Tyler Technologies during the fourth quarter worth approximately $459,691,000. Franklin Resources Inc. raised its position in shares of Tyler Technologies by 6.7% in the fourth quarter. Franklin Resources Inc. now owns 1,040,341 shares of the technology company’s stock valued at $434,987,000 after buying an additional 64,889 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Tyler Technologies by 6.3% in the first quarter. Van ECK Associates Corp now owns 922,942 shares of the technology company’s stock valued at $392,259,000 after buying an additional 54,926 shares during the period. Institutional investors own 93.30% of the company’s stock.

Tyler Technologies Trading Up 1.4 %

Shares of TYL stock opened at $586.66 on Thursday. Tyler Technologies, Inc. has a twelve month low of $361.16 and a twelve month high of $593.50. The stock’s fifty day simple moving average is $552.70 and its 200 day simple moving average is $485.68. 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 firm has a market capitalization of $25.03 billion, a P/E ratio of 132.73, a P/E/G ratio of 5.44 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.06. The company had revenue of $540.98 million for the quarter, compared to analysts’ expectations of $541.01 million. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.53 earnings per share. As a group, sell-side analysts predict that Tyler Technologies, Inc. will post 7.21 EPS for the current fiscal year.

Insider Buying and Selling at Tyler Technologies

In related news, CFO Brian K. Miller sold 800 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $479.28, for a total value of $383,424.00. Following the sale, the chief financial officer now owns 12,736 shares of the company’s stock, valued at $6,104,110.08. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Daniel M. Pope sold 275 shares of Tyler Technologies stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $578.26, for a total value of $159,021.50. Following the transaction, the director now directly owns 3,218 shares of the company’s stock, valued at $1,860,840.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Brian K. Miller sold 800 shares of the 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 sale, the chief financial officer now directly owns 12,736 shares of the company’s stock, valued at approximately $6,104,110.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,825 shares of company stock worth $9,643,553. 2.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Truist Financial restated a “buy” rating and set a $600.00 price objective (up previously from $560.00) on shares of Tyler Technologies in a research note on Friday, July 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $600.00 price target on shares of Tyler Technologies in a research note on Thursday, July 25th. Evercore ISI upgraded shares of Tyler Technologies to a “hold” rating in a research note on Friday, July 26th. BTIG Research boosted their target price on shares of Tyler Technologies from $550.00 to $630.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, The Goldman Sachs Group upped their price target on shares of Tyler Technologies from $515.00 to $627.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $582.31.

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.