Ballentine Partners LLC Makes New Investment in Tyler Technologies, Inc. (NYSE:TYL)

Ballentine Partners LLC acquired a new position in shares of Tyler Technologies, Inc. (NYSE:TYL) in the 3rd quarter, HoldingsChannel reports. The firm acquired 349 shares of the technology company’s stock, valued at approximately $204,000.

Several other large investors also recently bought and sold shares of TYL. Wealth Enhancement Advisory Services LLC increased its stake in Tyler Technologies by 64.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,032 shares of the technology company’s stock worth $864,000 after buying an additional 798 shares in the last quarter. Wasatch Advisors LP grew its position in shares of Tyler Technologies by 68.0% in the first quarter. Wasatch Advisors LP now owns 2,982 shares of the technology company’s stock valued at $1,267,000 after purchasing an additional 1,207 shares in the last quarter. Commonwealth Equity Services LLC grew its position in shares of Tyler Technologies by 119.2% in the first quarter. Commonwealth Equity Services LLC now owns 6,517 shares of the technology company’s stock valued at $2,770,000 after purchasing an additional 3,544 shares in the last quarter. HB Wealth Management LLC grew its position in shares of Tyler Technologies by 4.5% in the first quarter. HB Wealth Management LLC now owns 840 shares of the technology company’s stock valued at $357,000 after purchasing an additional 36 shares in the last quarter. Finally, Private Advisor Group LLC grew its position in shares of Tyler Technologies by 40.4% in the first quarter. Private Advisor Group LLC now owns 1,143 shares of the technology company’s stock valued at $486,000 after purchasing an additional 329 shares in the last quarter. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on TYL shares. The Goldman Sachs Group restated a “buy” rating and issued a $627.00 price target on shares of Tyler Technologies in a research report on Friday, September 13th. Oppenheimer upped their price target on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. DA Davidson upped their price target on Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Piper Sandler increased their price objective on Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, BTIG Research increased their price objective on Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $642.62.

Tyler Technologies Stock Up 1.4 %

NYSE:TYL opened at $613.84 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18. The stock’s fifty day moving average is $585.40 and its two-hundred day moving average is $529.57. Tyler Technologies, Inc. has a 52 week low of $362.50 and a 52 week high of $631.43. The stock has a market capitalization of $26.27 billion, a price-to-earnings ratio of 111.95, a price-to-earnings-growth ratio of 5.53 and a beta of 0.78.

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

Insiders Place Their Bets

In other news, CEO H Lynn Moore, Jr. sold 5,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $576.62, for a total value of $2,883,100.00. Following the sale, the chief executive officer now directly owns 75,000 shares in the company, valued at approximately $43,246,500. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Brian K. Miller sold 2,500 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $586.97, for a total value of $1,467,425.00. Following the sale, the chief financial officer now directly owns 11,950 shares in the company, valued at approximately $7,014,291.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $576.62, for a total value of $2,883,100.00. Following the completion of the sale, the chief executive officer now owns 75,000 shares in the company, valued at approximately $43,246,500. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,100 shares of company stock worth $16,890,717 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.

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.