LMR Partners LLP Purchases Shares of 40,059 Tyler Technologies, Inc. (NYSE:TYL)

LMR Partners LLP acquired a new position in shares of Tyler Technologies, Inc. (NYSE:TYL) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 40,059 shares of the technology company’s stock, valued at approximately $23,383,000.

Other institutional investors have also made changes to their positions in the company. Independence Bank of Kentucky acquired a new position in Tyler Technologies in the second quarter worth about $25,000. Ashton Thomas Securities LLC acquired a new position in shares of Tyler Technologies in the 3rd quarter worth approximately $27,000. Covestor Ltd lifted its position in shares of Tyler Technologies by 153.6% during the 1st quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after buying an additional 43 shares during the period. Blue Trust Inc. boosted its stake in Tyler Technologies by 329.4% in the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock valued at $37,000 after buying an additional 56 shares in the last quarter. Finally, Lynx Investment Advisory bought a new stake in Tyler Technologies in the second quarter valued at $38,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TYL has been the subject of a number of analyst reports. BTIG Research lifted their price objective on Tyler Technologies from $550.00 to $630.00 and gave the company a “buy” rating in a report on Friday, July 26th. Barclays lifted their price target on shares of Tyler Technologies from $700.00 to $705.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Piper Sandler upped their price objective on shares of Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Truist Financial reiterated a “buy” rating and issued a $685.00 target price (up previously from $600.00) on shares of Tyler Technologies in a research note on Friday, October 25th. Finally, Needham & Company LLC boosted their target price on Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Tyler Technologies has a consensus rating of “Moderate Buy” and an average target price of $642.62.

Tyler Technologies Trading Down 2.8 %

Shares of TYL opened at $597.10 on Monday. The stock’s fifty day simple moving average is $593.78 and its 200-day simple moving average is $547.67. 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 firm has a market capitalization of $25.56 billion, a PE ratio of 108.96, a price-to-earnings-growth ratio of 5.39 and a beta of 0.77. Tyler Technologies, Inc. has a 12-month low of $397.80 and a 12-month high of $631.43.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, beating 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 company had revenue of $543.34 million for the quarter, compared to the consensus estimate of $547.34 million. During the same period in the prior year, the company posted $1.66 EPS. The company’s revenue was up 9.8% compared to the same quarter last year. As a group, research analysts predict that Tyler Technologies, Inc. will post 7.39 earnings per share for the current year.

Insider Buying and Selling at Tyler Technologies

In related news, CFO Brian K. Miller sold 2,500 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $624.41, for a total value of $1,561,025.00. Following the completion of the sale, the chief financial officer now owns 11,950 shares in the company, valued at approximately $7,461,699.50. This represents a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of the firm’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 transaction, the chief executive officer now owns 75,000 shares in the company, valued at approximately $44,323,500. This trade represents a 6.25 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,600 shares of company stock valued at $19,307,295. 2.20% of the stock is currently owned by insiders.

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.