Ameritas Investment Partners Inc. Grows Stock Position in Tyler Technologies, Inc. (NYSE:TYL)

Ameritas Investment Partners Inc. grew its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,634 shares of the technology company’s stock after buying an additional 55 shares during the period. Ameritas Investment Partners Inc.’s holdings in Tyler Technologies were worth $3,335,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Waldron Private Wealth LLC raised its stake in Tyler Technologies by 3.5% in the second quarter. Waldron Private Wealth LLC now owns 716 shares of the technology company’s stock valued at $360,000 after purchasing an additional 24 shares in the last quarter. Industrial Alliance Investment Management Inc. lifted its holdings in shares of Tyler Technologies by 4.4% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 693 shares of the technology company’s stock worth $295,000 after acquiring an additional 29 shares during the last quarter. George Kaiser Family Foundation grew its position in Tyler Technologies by 0.7% in the second quarter. George Kaiser Family Foundation now owns 4,177 shares of the technology company’s stock worth $2,100,000 after acquiring an additional 29 shares in the last quarter. Avantax Advisory Services Inc. increased its stake in Tyler Technologies by 5.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 670 shares of the technology company’s stock valued at $280,000 after acquiring an additional 33 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its position in Tyler Technologies by 3.3% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,044 shares of the technology company’s stock valued at $444,000 after purchasing an additional 33 shares in the last quarter. Institutional investors own 93.30% of the company’s stock.

Tyler Technologies Stock Performance

Tyler Technologies stock opened at $577.80 on Friday. Tyler Technologies, Inc. has a 1-year low of $361.16 and a 1-year high of $598.93. The firm has a market cap of $24.53 billion, a P/E ratio of 130.72, a P/E/G ratio of 5.42 and a beta of 0.78. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average of $570.67 and a 200-day moving average of $497.49.

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

Insiders Place Their Bets

In related news, Director Daniel M. Pope sold 275 shares of the company’s stock in a transaction 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 sale, the director now directly owns 3,218 shares of the company’s stock, valued at $1,860,840.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Daniel M. Pope sold 275 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $578.26, for a total transaction of $159,021.50. Following the sale, the director now 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 Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian K. Miller sold 2,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $567.96, for a total transaction of $1,135,920.00. Following the completion of the sale, the chief financial officer now owns 11,950 shares in the company, valued at approximately $6,787,122. The disclosure for this sale can be found here. Insiders sold 29,375 shares of company stock worth $17,049,739 over the last three months. Company insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

TYL has been the subject of a number of research reports. Needham & Company LLC reiterated a “buy” rating and issued a $600.00 price objective on shares of Tyler Technologies in a report on Thursday, July 25th. Barclays upped their target price on 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 raised shares of Tyler Technologies to a “hold” rating in a research note on Friday, July 26th. Truist Financial reaffirmed a “buy” rating and issued a $600.00 price objective (up previously from $560.00) on shares of Tyler Technologies in a research note on Friday, July 26th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $627.00 target price on shares of Tyler Technologies in a research report on Friday, September 13th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.