Everence Capital Management Inc. Increases Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Everence Capital Management Inc. raised its stake in Tyler Technologies, Inc. (NYSE:TYL) by 105.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,540 shares of the technology company’s stock after acquiring an additional 1,820 shares during the quarter. Everence Capital Management Inc.’s holdings in Tyler Technologies were worth $2,066,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. American International Group Inc. lifted its position in Tyler Technologies by 2.0% during the 4th quarter. American International Group Inc. now owns 12,875 shares of the technology company’s stock worth $5,383,000 after acquiring an additional 254 shares in the last quarter. Nomura Holdings Inc. acquired a new position in shares of Tyler Technologies during the fourth quarter worth $355,000. Congress Asset Management Co. MA acquired a new stake in Tyler Technologies during the 1st quarter valued at $340,000. Sound Income Strategies LLC purchased a new stake in Tyler Technologies during the 1st quarter worth $68,000. Finally, Procyon Advisors LLC increased its stake in Tyler Technologies by 3.1% during the 1st quarter. Procyon Advisors LLC now owns 2,435 shares of the technology company’s stock worth $1,035,000 after buying an additional 74 shares during the period. Institutional investors and hedge funds own 93.30% of the company’s stock.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, insider John S. Marr, Jr. sold 5,000 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $578.94, for a total value of $2,894,700.00. Following the sale, the insider now directly owns 6,983 shares of the company’s stock, valued at $4,042,738.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Tyler Technologies news, insider John S. Marr, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $578.94, for a total value of $2,894,700.00. Following the sale, the insider now owns 6,983 shares in the company, valued at approximately $4,042,738.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Glenn A. Carter sold 3,350 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $582.57, for a total value of $1,951,609.50. Following the transaction, the director now owns 2,654 shares of the company’s stock, valued at approximately $1,546,140.78. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,375 shares of company stock worth $17,049,739 in the last 90 days. 2.20% of the stock is currently owned by company insiders.

Tyler Technologies Stock Performance

Shares of Tyler Technologies stock traded down $0.77 during trading hours on Monday, reaching $587.66. The company’s stock had a trading volume of 97,053 shares, compared to its average volume of 225,211. Tyler Technologies, Inc. has a one year low of $361.16 and a one year high of $606.93. The company’s 50 day simple moving average is $583.57 and its 200 day simple moving average is $521.95. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market cap of $24.95 billion, a P/E ratio of 133.13, a price-to-earnings-growth ratio of 5.55 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, July 24th. The technology company reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.06. The firm had revenue of $540.98 million for the quarter, compared to analysts’ expectations of $541.01 million. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. Tyler Technologies’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the company posted $1.53 earnings per share. As a group, analysts expect that Tyler Technologies, Inc. will post 7.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TYL has been the subject of several recent analyst reports. Truist Financial restated a “buy” rating and set a $600.00 target price (up from $560.00) on shares of Tyler Technologies in a research note on Friday, July 26th. Needham & Company LLC restated a “buy” rating and set a $600.00 price objective on shares of Tyler Technologies in a research note on Thursday, July 25th. JMP Securities upped their target price on Tyler Technologies from $490.00 to $580.00 and gave the company a “market outperform” rating in a research report on Monday, July 22nd. Piper Sandler increased their target price on Tyler Technologies from $529.00 to $625.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, Oppenheimer lifted their price target on shares of Tyler Technologies from $550.00 to $625.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $593.69.

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.