Everence Capital Management Inc. Boosts Stock Position in Tyler Technologies, Inc. (NYSE:TYL)

Everence Capital Management Inc. lifted its position in Tyler Technologies, Inc. (NYSE:TYL) by 63.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,690 shares of the technology company’s stock after purchasing an additional 1,040 shares during the quarter. Everence Capital Management Inc.’s holdings in Tyler Technologies were worth $1,125,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. First Trust Direct Indexing L.P. boosted its holdings in Tyler Technologies by 2.7% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,095 shares of the technology company’s stock valued at $423,000 after acquiring an additional 29 shares during the period. Baron Wealth Management LLC boosted its holdings in Tyler Technologies by 2.0% during the 4th quarter. Baron Wealth Management LLC now owns 1,463 shares of the technology company’s stock valued at $612,000 after acquiring an additional 29 shares during the period. Sunbelt Securities Inc. boosted its holdings in Tyler Technologies by 2.6% during the 2nd quarter. Sunbelt Securities Inc. now owns 1,167 shares of the technology company’s stock valued at $486,000 after acquiring an additional 30 shares during the period. Kestra Advisory Services LLC boosted its holdings in Tyler Technologies by 5.8% during the 2nd quarter. Kestra Advisory Services LLC now owns 616 shares of the technology company’s stock valued at $257,000 after acquiring an additional 34 shares during the period. Finally, Parkside Financial Bank & Trust boosted its holdings in Tyler Technologies by 4.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 727 shares of the technology company’s stock valued at $303,000 after acquiring an additional 34 shares during the period. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Tyler Technologies Stock Down 0.4 %

Shares of NYSE:TYL opened at $399.26 on Wednesday. Tyler Technologies, Inc. has a 52-week low of $361.16 and a 52-week high of $454.74. The firm has a market capitalization of $16.94 billion, a P/E ratio of 102.64, a P/E/G ratio of 3.94 and a beta of 0.81. The stock has a 50 day moving average price of $425.50 and a 200-day moving average price of $413.64. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 0.86.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, February 14th. The technology company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.06. The firm had revenue of $480.94 million during the quarter, compared to analyst estimates of $483.34 million. Tyler Technologies had a return on equity of 8.85% and a net margin of 8.50%. As a group, equities research analysts anticipate that Tyler Technologies, Inc. will post 6.77 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider John S. Marr, Jr. sold 6,500 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $437.49, for a total value of $2,843,685.00. Following the sale, the insider now owns 6,400 shares in the company, valued at approximately $2,799,936. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Tyler Technologies news, Director Glenn A. Carter sold 1,650 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $437.84, for a total transaction of $722,436.00. Following the sale, the director now directly owns 2,011 shares in the company, valued at approximately $880,496.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John S. Marr, Jr. sold 6,500 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $437.49, for a total value of $2,843,685.00. Following the sale, the insider now owns 6,400 shares in the company, valued at $2,799,936. The disclosure for this sale can be found here. Insiders have sold 50,608 shares of company stock worth $21,974,819 in the last 90 days. Insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their target price on Tyler Technologies from $500.00 to $526.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. Needham & Company LLC upped their price target on Tyler Technologies from $475.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. DA Davidson upped their price target on Tyler Technologies from $412.00 to $434.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. JMP Securities reaffirmed a “market outperform” rating and set a $490.00 price target on shares of Tyler Technologies in a research report on Friday, February 16th. Finally, Piper Sandler upped their price target on Tyler Technologies from $480.00 to $520.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Tyler Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $457.86.

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.