Frank Rimerman Advisors LLC Takes $227,000 Position in Tyler Technologies, Inc. (NYSE:TYL)

Frank Rimerman Advisors LLC purchased a new position in Tyler Technologies, Inc. (NYSE:TYL) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 389 shares of the technology company’s stock, valued at approximately $227,000.

Several other hedge funds have also recently made changes to their positions in TYL. Wealth Enhancement Advisory Services LLC grew its position in Tyler Technologies by 76.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 3,559 shares of the technology company’s stock worth $2,077,000 after purchasing an additional 1,540 shares during the period. Arkadios Wealth Advisors grew its holdings in shares of Tyler Technologies by 47.4% in the third quarter. Arkadios Wealth Advisors now owns 2,087 shares of the technology company’s stock worth $1,218,000 after acquiring an additional 671 shares during the period. Forsta AP Fonden increased its position in Tyler Technologies by 6.3% during the third quarter. Forsta AP Fonden now owns 8,500 shares of the technology company’s stock valued at $4,962,000 after acquiring an additional 500 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Tyler Technologies by 103.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,109 shares of the technology company’s stock valued at $2,373,000 after acquiring an additional 2,086 shares during the period. Finally, Ballentine Partners LLC purchased a new position in Tyler Technologies in the third quarter worth about $204,000. 93.30% of the stock is owned by hedge funds and other institutional investors.

Tyler Technologies Price Performance

Shares of Tyler Technologies stock opened at $605.39 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies, Inc. has a 12 month low of $362.50 and a 12 month high of $631.43. The stock has a 50 day moving average of $585.40 and a 200 day moving average of $529.57. The firm has a market cap of $25.91 billion, a PE ratio of 110.47, a PEG ratio of 5.53 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.09. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The firm had revenue of $543.34 million for the quarter, compared to the consensus estimate of $547.34 million. During the same period in the previous year, the firm posted $1.66 EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. On average, research analysts expect that Tyler Technologies, Inc. will post 7.3 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Brian K. Miller sold 2,000 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $567.96, for a total value of $1,135,920.00. Following the sale, the chief financial officer now directly owns 11,950 shares of the company’s stock, valued at $6,787,122. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Brian K. Miller sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $567.96, for a total value of $1,135,920.00. Following the transaction, the chief financial officer now owns 11,950 shares of the company’s stock, valued at $6,787,122. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of Tyler Technologies stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $576.62, for a total transaction of $2,883,100.00. Following the sale, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at $43,246,500. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,100 shares of company stock worth $16,890,717 over the last three months. 1.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TYL has been the topic of several recent research reports. Barclays increased their price objective on shares of Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a research note on Friday. Robert W. Baird boosted their price objective on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research report on Friday. Evercore ISI raised Tyler Technologies to a “hold” rating in a report on Friday, July 26th. StockNews.com raised Tyler Technologies from a “hold” rating to a “buy” rating in a report on Friday. Finally, Truist Financial reaffirmed a “buy” rating and issued a $685.00 price objective (up previously from $600.00) on shares of Tyler Technologies in a research note on Friday. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $642.62.

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.