R Squared Ltd Invests $582,000 in Tyler Technologies, Inc. (NYSE:TYL)

R Squared Ltd purchased a new stake in Tyler Technologies, Inc. (NYSE:TYL) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 1,010 shares of the technology company’s stock, valued at approximately $582,000. Tyler Technologies accounts for approximately 0.6% of R Squared Ltd’s holdings, making the stock its 19th biggest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in Tyler Technologies by 2.2% in the third quarter. Geode Capital Management LLC now owns 1,108,908 shares of the technology company’s stock valued at $645,585,000 after buying an additional 24,284 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Tyler Technologies by 2.0% in the 3rd quarter. Franklin Resources Inc. now owns 912,746 shares of the technology company’s stock valued at $547,354,000 after acquiring an additional 17,943 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Tyler Technologies by 4.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 904,175 shares of the technology company’s stock valued at $527,785,000 after acquiring an additional 36,066 shares in the last quarter. JPMorgan Chase & Co. grew its position in Tyler Technologies by 148.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock worth $269,369,000 after acquiring an additional 275,511 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in Tyler Technologies by 252,047.5% in the third quarter. International Assets Investment Management LLC now owns 307,620 shares of the technology company’s stock valued at $179,564,000 after purchasing an additional 307,498 shares during the last quarter. 93.30% of the stock is owned by institutional investors.

Tyler Technologies Stock Performance

Shares of NYSE TYL opened at $620.30 on Wednesday. The stock has a market cap of $26.55 billion, a price-to-earnings ratio of 113.19, a P/E/G ratio of 4.55 and a beta of 0.78. The stock’s 50-day moving average is $598.46 and its 200 day moving average is $588.08. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies, Inc. has a 1-year low of $397.80 and a 1-year high of $638.56.

Analysts Set New Price Targets

Several equities research analysts recently commented on TYL shares. StockNews.com downgraded shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Oppenheimer boosted their price objective on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Truist Financial reaffirmed a “buy” rating and set a $685.00 target price (up from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. Wells Fargo & Company reissued an “equal weight” rating and issued a $615.00 price target (down previously from $670.00) on shares of Tyler Technologies in a research note on Tuesday, January 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $700.00 price objective on shares of Tyler Technologies in a research report on Tuesday, January 21st. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Tyler Technologies has a consensus rating of “Moderate Buy” and an average price target of $643.77.

Insider Buying and Selling

In related news, CFO Brian K. Miller sold 6,752 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $613.75, for a total transaction of $4,144,040.00. Following the completion of the transaction, the chief financial officer now owns 11,918 shares in the company, valued at $7,314,672.50. This represents a 36.16 % decrease in their ownership of the stock. 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 6,250 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $605.82, for a total transaction of $3,786,375.00. Following the completion of the sale, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at approximately $45,436,500. This represents a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,252 shares of company stock worth $26,096,928 in the last ninety days. 2.20% of the stock is owned by insiders.

About Tyler Technologies

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.