Wedmont Private Capital Makes New $231,000 Investment in Tyler Technologies, Inc. (NYSE:TYL)

Wedmont Private Capital bought a new stake in Tyler Technologies, Inc. (NYSE:TYL) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 397 shares of the technology company’s stock, valued at approximately $231,000.

Several other hedge funds also recently modified their holdings of the stock. Waldron Private Wealth LLC lifted its stake in Tyler Technologies by 3.5% during the 2nd quarter. Waldron Private Wealth LLC now owns 716 shares of the technology company’s stock valued at $360,000 after acquiring an additional 24 shares in the last quarter. Industrial Alliance Investment Management Inc. lifted its position in shares of Tyler Technologies by 4.4% during the first quarter. Industrial Alliance Investment Management Inc. now owns 693 shares of the technology company’s stock valued at $295,000 after purchasing an additional 29 shares in the last quarter. George Kaiser Family Foundation boosted its holdings in Tyler Technologies by 0.7% during the second quarter. George Kaiser Family Foundation now owns 4,177 shares of the technology company’s stock worth $2,100,000 after purchasing an additional 29 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in Tyler Technologies by 3.3% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,044 shares of the technology company’s stock worth $444,000 after purchasing an additional 33 shares in the last quarter. Finally, Torray Investment Partners LLC increased its stake in Tyler Technologies by 0.3% in the 2nd quarter. Torray Investment Partners LLC now owns 11,010 shares of the technology company’s stock valued at $5,536,000 after buying an additional 33 shares during the last quarter. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Insider Buying and Selling at Tyler Technologies

In other news, CEO H Lynn Moore, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $590.98, for a total value of $2,954,900.00. Following the completion of the transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at approximately $44,323,500. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tyler Technologies news, Director Daniel M. Pope sold 275 shares of the company’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 transaction, the director now directly owns 3,218 shares in the company, valued at $1,860,840.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of Tyler Technologies stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $590.98, for a total value of $2,954,900.00. Following the sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at approximately $44,323,500. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,375 shares of company stock valued at $17,049,739 in the last quarter. 2.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TYL. Barclays upgraded Tyler Technologies from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $577.00 to $700.00 in a research note on Monday, October 7th. Evercore ISI raised Tyler Technologies to a “hold” rating in a research report on Friday, July 26th. The Goldman Sachs Group reiterated a “buy” rating and set a $627.00 target price on shares of Tyler Technologies in a research note on Friday, September 13th. Piper Sandler raised their price objective on shares of Tyler Technologies from $529.00 to $625.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, JMP Securities lifted their price objective on shares of Tyler Technologies from $490.00 to $580.00 and gave the stock a “market outperform” rating in a research report on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $591.77.

Tyler Technologies Stock Performance

Shares of TYL stock opened at $594.41 on Monday. The firm’s 50 day moving average is $581.46 and its 200 day moving average is $515.81. The stock has a market capitalization of $25.36 billion, a P/E ratio of 122.81, a PEG ratio of 5.42 and a beta of 0.78. Tyler Technologies, Inc. has a 12 month low of $361.16 and a 12 month high of $598.93. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.19.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.40 EPS 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 analyst estimates of $541.01 million. During the same period last year, the company earned $1.53 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, sell-side analysts anticipate that Tyler Technologies, Inc. will post 7.21 earnings per share 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.