Parallel Advisors LLC Increases Stock Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Parallel Advisors LLC grew its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 4.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 578 shares of the technology company’s stock after purchasing an additional 25 shares during the quarter. Parallel Advisors LLC’s holdings in Tyler Technologies were worth $333,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in TYL. Van ECK Associates Corp boosted its stake in shares of Tyler Technologies by 1,991.8% during the 4th quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock worth $317,486,000 after acquiring an additional 524,259 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Tyler Technologies during the fourth quarter valued at about $159,947,000. JPMorgan Chase & Co. increased its position in Tyler Technologies by 148.2% in the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock worth $269,369,000 after buying an additional 275,511 shares in the last quarter. Seilern Investment Management Ltd purchased a new stake in Tyler Technologies in the fourth quarter worth about $105,549,000. Finally, Wealthfront Advisers LLC raised its stake in shares of Tyler Technologies by 8,973.6% in the fourth quarter. Wealthfront Advisers LLC now owns 154,433 shares of the technology company’s stock worth $89,052,000 after buying an additional 152,731 shares during the period. Institutional investors own 93.30% of the company’s stock.

Insider Activity

In other news, CFO Brian K. Miller sold 1,550 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $613.58, for a total transaction of $951,049.00. Following the transaction, the chief financial officer now owns 14,026 shares of the company’s stock, valued at approximately $8,606,073.08. The trade was a 9.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $617.59, for a total value of $4,022,981.26. Following the completion of the sale, the chief executive officer now owns 75,734 shares of the company’s stock, valued at approximately $46,772,561.06. This represents a 7.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,064 shares of company stock worth $8,688,030. 2.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently issued reports on TYL. Piper Sandler increased their target price on shares of Tyler Technologies from $701.00 to $747.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Wells Fargo & Company restated an “equal weight” rating and set a $615.00 price objective (down from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. Truist Financial reaffirmed a “buy” rating and issued a $775.00 target price (up previously from $685.00) on shares of Tyler Technologies in a report on Friday, February 14th. Barclays raised their price target on Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Finally, The Goldman Sachs Group upped their price objective on Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $676.25.

Tyler Technologies Stock Performance

NYSE TYL opened at $566.56 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21. Tyler Technologies, Inc. has a 1-year low of $397.80 and a 1-year high of $661.31. The business has a 50 day simple moving average of $598.88 and a two-hundred day simple moving average of $597.81. The stock has a market capitalization of $24.42 billion, a PE ratio of 93.49, a P/E/G ratio of 4.93 and a beta of 0.80.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. On average, research analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal 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.