Maryland State Retirement & Pension System Raises Stock Position in Tyler Technologies, Inc. (NYSE:TYL)

Maryland State Retirement & Pension System boosted its stake in Tyler Technologies, Inc. (NYSE:TYL) by 4.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,303 shares of the technology company’s stock after buying an additional 126 shares during the period. Maryland State Retirement & Pension System’s holdings in Tyler Technologies were worth $1,661,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Industrial Alliance Investment Management Inc. lifted its holdings 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 during the last quarter. GW&K Investment Management LLC grew its stake in shares of Tyler Technologies by 0.3% in the fourth quarter. GW&K Investment Management LLC now owns 12,044 shares of the technology company’s stock worth $5,035,000 after acquiring an additional 31 shares during the last quarter. Avantax Advisory Services Inc. grew its stake in shares of Tyler Technologies by 5.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 670 shares of the technology company’s stock worth $280,000 after acquiring an additional 33 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Tyler Technologies by 3.3% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,044 shares of the technology company’s stock valued at $444,000 after acquiring an additional 33 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of Tyler Technologies by 0.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 10,965 shares of the technology company’s stock worth $4,585,000 after purchasing an additional 34 shares during the last quarter. 93.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. Loop Capital increased their price objective on shares of Tyler Technologies from $485.00 to $530.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Barclays raised their price target on shares of Tyler Technologies from $515.00 to $577.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Evercore ISI raised Tyler Technologies to a “hold” rating in a research report on Friday, July 26th. Oppenheimer lifted their target price on Tyler Technologies from $550.00 to $625.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, DA Davidson upped their price target on Tyler Technologies from $456.00 to $525.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $582.31.

Insider Transactions at Tyler Technologies

In related news, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $481.99, for a total transaction of $2,891,940.00. Following the sale, the insider now owns 6,983 shares of the company’s stock, valued at approximately $3,365,736.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tyler Technologies news, CFO Brian K. Miller sold 800 shares of Tyler Technologies stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $479.28, for a total transaction of $383,424.00. Following the completion of the transaction, the chief financial officer now directly owns 12,736 shares of the company’s stock, valued at $6,104,110.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John S. Marr, Jr. sold 6,000 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $481.99, for a total transaction of $2,891,940.00. Following the completion of the sale, the insider now directly owns 6,983 shares in the company, valued at $3,365,736.17. The disclosure for this sale can be found here. Insiders have sold 20,325 shares of company stock valued at $11,068,068 over the last quarter. 2.20% of the stock is currently owned by company insiders.

Tyler Technologies Stock Performance

Shares of Tyler Technologies stock traded up $0.24 during trading hours on Friday, reaching $587.87. 294,709 shares of the stock traded hands, compared to its average volume of 222,571. Tyler Technologies, Inc. has a one year low of $361.16 and a one year high of $593.50. The firm has a market capitalization of $24.96 billion, a price-to-earnings ratio of 133.00, a P/E/G ratio of 5.40 and a beta of 0.76. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.19. The company has a 50 day moving average price of $547.02 and a 200 day moving average price of $482.31.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, July 24th. The technology company reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.06. The business had revenue of $540.98 million during 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%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.53 earnings per share. On average, equities research analysts expect that Tyler Technologies, Inc. will post 7.21 earnings per share for the current fiscal year.

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.