Adell Harriman & Carpenter Inc. Acquires New Position in Tyler Technologies, Inc. (NYSE:TYL)

Adell Harriman & Carpenter Inc. acquired a new stake in Tyler Technologies, Inc. (NYSE:TYL) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 456 shares of the technology company’s stock, valued at approximately $263,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TYL. Ashton Thomas Securities LLC acquired a new stake in shares of Tyler Technologies in the third quarter valued at about $27,000. Quarry LP acquired a new stake in shares of Tyler Technologies in the third quarter valued at about $78,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Tyler Technologies by 18.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the technology company’s stock valued at $78,000 after purchasing an additional 21 shares during the period. Brooklyn Investment Group acquired a new position in Tyler Technologies during the third quarter worth about $79,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new position in Tyler Technologies during the third quarter worth about $82,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

Insider Activity at Tyler Technologies

In related news, CFO Brian K. Miller sold 6,752 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $613.75, for a total value of $4,144,040.00. Following the completion of the sale, the chief financial officer now directly owns 11,918 shares in the company, valued at approximately $7,314,672.50. The trade was a 36.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John S. Marr, Jr. sold 6,000 shares of the stock in a transaction on 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 completion of the sale, the insider now directly owns 6,983 shares of the company’s stock, valued at $4,424,079.65. The trade was a 46.21 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,502 shares of company stock worth $18,941,368. 2.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Wells Fargo & Company restated an “equal weight” rating and set a $615.00 target price (down previously from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. JMP Securities lifted their target price on shares of Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a research report on Friday, October 25th. Oppenheimer 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 report on Friday, October 25th. Piper Sandler lifted their target price on shares of Tyler Technologies from $701.00 to $747.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Barclays lifted their target price on shares of Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a research report on Friday. Three research 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 a consensus target price of $667.83.

Tyler Technologies Price Performance

Tyler Technologies stock opened at $642.39 on Friday. Tyler Technologies, Inc. has a 1 year low of $397.80 and a 1 year high of $661.31. The firm has a 50 day moving average price of $596.21 and a 200 day moving average price of $594.29. The company has a market cap of $27.49 billion, a price-to-earnings ratio of 117.22, a PEG ratio of 4.78 and a beta of 0.78. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. Sell-side analysts predict that Tyler Technologies, Inc. will post 7.36 earnings per share for the current 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.