Virtu Financial LLC Buys Shares of 3,127 Tyler Technologies, Inc. (NYSE:TYL)

Virtu Financial LLC purchased a new stake in Tyler Technologies, Inc. (NYSE:TYL) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,127 shares of the technology company’s stock, valued at approximately $1,825,000.

Other large investors have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in Tyler Technologies in the 3rd quarter valued at approximately $27,000. Independence Bank of Kentucky purchased a new stake in shares of Tyler Technologies in the second quarter valued at $25,000. Blue Trust Inc. boosted its stake in shares of Tyler Technologies by 329.4% during the second quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock valued at $37,000 after acquiring an additional 56 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Tyler Technologies during the 2nd quarter worth about $61,000. Finally, Quarry LP acquired a new position in Tyler Technologies in the 3rd quarter valued at about $78,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TYL. JMP Securities raised their price target on shares of Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a research note on Friday, October 25th. Oppenheimer raised their target price on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Robert W. Baird lifted their target price 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. DA Davidson increased their price target on Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Needham & Company LLC raised their price objective on Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $642.62.

Tyler Technologies Trading Up 0.5 %

Shares of TYL stock opened at $628.38 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies, Inc. has a fifty-two week low of $397.80 and a fifty-two week high of $638.56. The firm’s 50 day moving average price is $608.09 and its two-hundred day moving average price is $564.69. The stock has a market cap of $26.89 billion, a price-to-earnings ratio of 114.67, a price-to-earnings-growth ratio of 5.66 and a beta of 0.76.

Tyler Technologies (NYSE:TYL) last posted its earnings results 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 net margin of 11.39% and a return on equity of 9.79%. The business had revenue of $543.34 million for the quarter, compared to analyst estimates of $547.34 million. During the same quarter in the previous year, the business posted $1.66 EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. On average, analysts anticipate that Tyler Technologies, Inc. will post 7.36 EPS for the current year.

Insider Transactions at Tyler Technologies

In related news, CEO H Lynn Moore, Jr. sold 3,250 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $631.41, for a total value of $2,052,082.50. Following the transaction, the chief executive officer now owns 75,000 shares in the company, valued at approximately $47,355,750. The trade was a 4.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Brian K. Miller sold 3,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were 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 directly owns 11,950 shares of the company’s stock, valued at $7,202,504. This represents a 20.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,500 shares of company stock valued at $21,952,888 over the last quarter. Company insiders own 2.20% of the company’s stock.

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.