USA Financial Formulas Boosts Position in Tyler Technologies, Inc. (NYSE:TYL)

USA Financial Formulas raised its stake in Tyler Technologies, Inc. (NYSE:TYL) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,862 shares of the technology company’s stock after purchasing an additional 63 shares during the period. USA Financial Formulas’ holdings in Tyler Technologies were worth $1,074,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TYL. Ashton Thomas Securities LLC acquired a new stake in Tyler Technologies during the 3rd quarter worth $27,000. Tobam purchased a new stake in shares of Tyler Technologies in the 3rd quarter valued at about $78,000. Quarry LP purchased a new stake in shares of Tyler Technologies in the 3rd quarter valued at about $78,000. Brooklyn Investment Group acquired a new stake in shares of Tyler Technologies in the 3rd quarter valued at about $79,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new position in Tyler Technologies during the 3rd quarter worth approximately $82,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

Tyler Technologies Trading Up 0.3 %

Shares of TYL opened at $571.76 on Thursday. The stock’s fifty day simple moving average is $602.48 and its 200 day simple moving average is $582.64. Tyler Technologies, Inc. has a twelve month low of $397.80 and a twelve month high of $638.56. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $24.47 billion, a P/E ratio of 104.34, a price-to-earnings-growth ratio of 4.35 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The business had revenue of $543.34 million for the quarter, compared to analyst estimates of $547.34 million. During the same period in the previous year, the company posted $1.66 EPS. The company’s revenue was up 9.8% compared to the same quarter last year. On average, equities research analysts forecast that Tyler Technologies, Inc. will post 7.36 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TYL. Needham & Company LLC raised their target price on shares of Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Barclays raised their price objective on shares of Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. JMP Securities boosted their price objective on shares of Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a research note on Friday, October 25th. Piper Sandler lifted their target price on shares of Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Robert W. Baird increased their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Tyler Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $643.77.

Insider Activity

In related news, insider John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $633.55, for a total transaction of $3,801,300.00. Following the sale, the insider now directly owns 6,983 shares in the company, valued at approximately $4,424,079.65. This trade represents a 46.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Brian K. Miller sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $602.72, for a total value of $1,808,160.00. Following the completion of the transaction, the chief financial officer now owns 11,950 shares of the company’s stock, valued at approximately $7,202,504. This represents a 20.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,252 shares of company stock valued at $26,096,928. Company insiders own 1.50% of the company’s stock.

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.