Dark Forest Capital Management LP Takes $235,000 Position in Tyler Technologies, Inc. (NYSE:TYL)

Dark Forest Capital Management LP purchased a new position in Tyler Technologies, Inc. (NYSE:TYL) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 468 shares of the technology company’s stock, valued at approximately $235,000.

A number of other institutional investors also recently bought and sold shares of the stock. Commonwealth Equity Services LLC lifted its holdings in shares of Tyler Technologies by 119.2% in the 1st quarter. Commonwealth Equity Services LLC now owns 6,517 shares of the technology company’s stock worth $2,770,000 after acquiring an additional 3,544 shares during the last quarter. Bessemer Group Inc. lifted its stake in Tyler Technologies by 39.4% in the first quarter. Bessemer Group Inc. now owns 6,840 shares of the technology company’s stock worth $2,906,000 after purchasing an additional 1,935 shares during the last quarter. Rafferty Asset Management LLC boosted its position in shares of Tyler Technologies by 26.8% during the fourth quarter. Rafferty Asset Management LLC now owns 13,972 shares of the technology company’s stock valued at $5,842,000 after buying an additional 2,951 shares during the period. State Board of Administration of Florida Retirement System grew its stake in shares of Tyler Technologies by 7.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 46,724 shares of the technology company’s stock valued at $19,858,000 after buying an additional 3,198 shares during the last quarter. Finally, Natixis raised its holdings in shares of Tyler Technologies by 114.0% in the first quarter. Natixis now owns 2,253 shares of the technology company’s stock worth $958,000 after buying an additional 1,200 shares during the period. 93.30% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider John S. Marr, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $578.94, for a total transaction of $2,894,700.00. Following the completion of the transaction, the insider now owns 6,983 shares in the company, valued at approximately $4,042,738.02. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Tyler Technologies news, insider John S. Marr, Jr. sold 5,000 shares of Tyler Technologies 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 transaction, the insider now directly owns 6,983 shares of the company’s stock, valued at $4,042,738.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $576.49, for a total value of $3,603,062.50. Following the transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at $43,236,750. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,375 shares of company stock worth $17,049,739. Corporate insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $627.00 price objective on shares of Tyler Technologies in a research report on Friday, September 13th. Evercore ISI upgraded shares of Tyler Technologies to a “hold” rating in a report on Friday, July 26th. Truist Financial reiterated a “buy” rating and set a $600.00 price objective (up previously from $560.00) on shares of Tyler Technologies in a report on Friday, July 26th. BTIG Research upped their target price on shares of Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Piper Sandler lifted their price target on shares of Tyler Technologies from $529.00 to $625.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Tyler Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $582.31.

Tyler Technologies Stock Performance

Shares of NYSE:TYL opened at $577.52 on Monday. The firm has a 50 day moving average of $576.23 and a 200 day moving average of $504.13. 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 company has a market capitalization of $24.52 billion, a price-to-earnings ratio of 130.66, a price-to-earnings-growth ratio of 5.41 and a beta of 0.78. Tyler Technologies, Inc. has a 52 week low of $361.16 and a 52 week high of $598.93.

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