Proficio Capital Partners LLC Buys New Stake in Tyler Technologies, Inc. (NYSE:TYL)

Proficio Capital Partners LLC bought a new stake in Tyler Technologies, Inc. (NYSE:TYL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 58,241 shares of the technology company’s stock, valued at approximately $33,584,000. Proficio Capital Partners LLC owned 0.14% of Tyler Technologies as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TYL. Oregon Public Employees Retirement Fund grew its stake in Tyler Technologies by 0.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,668 shares of the technology company’s stock worth $2,115,000 after buying an additional 20 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Tyler Technologies by 18.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the technology company’s stock worth $78,000 after buying an additional 21 shares during the last quarter. Baron Wealth Management LLC grew its stake in Tyler Technologies by 1.5% during the fourth quarter. Baron Wealth Management LLC now owns 1,487 shares of the technology company’s stock worth $857,000 after buying an additional 22 shares during the last quarter. Choreo LLC grew its stake in Tyler Technologies by 3.9% during the fourth quarter. Choreo LLC now owns 647 shares of the technology company’s stock worth $374,000 after buying an additional 24 shares during the last quarter. Finally, Argonautica Private Wealth Management Inc. grew its stake in Tyler Technologies by 2.2% during the fourth quarter. Argonautica Private Wealth Management Inc. now owns 1,123 shares of the technology company’s stock worth $648,000 after buying an additional 24 shares during the last quarter. Institutional investors own 93.30% of the company’s stock.

Tyler Technologies Trading Up 1.9 %

Shares of NYSE TYL opened at $563.81 on Friday. The company’s 50 day simple moving average is $598.95 and its 200 day simple moving average is $598.28. Tyler Technologies, Inc. has a fifty-two week low of $397.80 and a fifty-two week high of $661.31. The firm has a market capitalization of $24.25 billion, a P/E ratio of 93.04, a P/E/G ratio of 4.93 and a beta of 0.80. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. On average, analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TYL shares. The Goldman Sachs Group upped their price objective on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Wells Fargo & Company reiterated an “equal weight” rating and set a $615.00 target price (down from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. DA Davidson reiterated a “neutral” rating and set a $575.00 target price on shares of Tyler Technologies in a research report on Thursday, January 30th. StockNews.com lowered shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Monday, February 24th. Finally, Truist Financial reiterated a “buy” rating and set a $775.00 target price (up from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $676.25.

Insiders Place Their Bets

In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,000 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $619.00, for a total value of $3,714,000.00. Following the sale, the insider now directly owns 6,983 shares in the company, valued at approximately $4,322,477. This trade represents a 46.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the completion of the sale, the chief executive officer now owns 75,734 shares in the company, valued at approximately $46,772,561.06. This trade represents a 7.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,064 shares of company stock worth $8,688,030. Company insiders own 2.20% of the company’s stock.

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.