Profund Advisors LLC Buys 63 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Profund Advisors LLC raised its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 7.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 902 shares of the technology company’s stock after acquiring an additional 63 shares during the quarter. Profund Advisors LLC’s holdings in Tyler Technologies were worth $454,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Independence Bank of Kentucky bought a new stake in shares of Tyler Technologies during the second quarter valued at approximately $25,000. Kapitalo Investimentos Ltda purchased a new position in Tyler Technologies during the fourth quarter valued at $26,000. Covestor Ltd boosted its holdings in shares of Tyler Technologies by 153.6% during the 1st quarter. Covestor Ltd now owns 71 shares of the technology company’s stock valued at $30,000 after buying an additional 43 shares in the last quarter. Blue Trust Inc. grew its position in shares of Tyler Technologies by 329.4% in the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after buying an additional 56 shares during the period. Finally, Lynx Investment Advisory purchased a new position in Tyler Technologies during the 2nd quarter valued at about $38,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. DA Davidson upped their price target on Tyler Technologies from $456.00 to $525.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Piper Sandler upped their price target on shares of Tyler Technologies from $529.00 to $625.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. BTIG Research lifted their target price on shares of Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Truist Financial reissued a “buy” rating and set a $600.00 price target (up previously from $560.00) on shares of Tyler Technologies in a research report on Friday, July 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $600.00 price objective on shares of Tyler Technologies in a research report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $582.31.

Insider Buying and Selling at Tyler Technologies

In other news, Director Daniel M. Pope sold 275 shares of Tyler Technologies stock in a transaction on Monday, July 29th. The shares were sold at an average price of $578.26, for a total transaction of $159,021.50. Following the transaction, the director now owns 3,218 shares in the company, valued at approximately $1,860,840.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $590.98, for a total value of $2,954,900.00. Following the completion of the sale, the chief executive officer now owns 75,000 shares in the company, valued at $44,323,500. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Daniel M. Pope sold 275 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $578.26, for a total value of $159,021.50. Following the completion of the transaction, the director now directly owns 3,218 shares in the company, valued at approximately $1,860,840.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,375 shares of company stock valued at $17,049,739. Insiders own 2.20% of the company’s stock.

Tyler Technologies Stock Performance

Shares of TYL opened at $580.04 on Thursday. The firm has a market capitalization of $24.63 billion, a P/E ratio of 131.23, a PEG ratio of 5.40 and a beta of 0.78. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.06 and a quick ratio of 1.06. Tyler Technologies, Inc. has a one year low of $361.16 and a one year high of $598.93. The business has a fifty day moving average of $574.10 and a 200 day moving average of $501.46.

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