Quantbot Technologies LP Acquires 308 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Quantbot Technologies LP raised its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 7.2% during the fourth quarter, Holdings Channel reports. The fund owned 4,576 shares of the technology company’s stock after buying an additional 308 shares during the period. Quantbot Technologies LP’s holdings in Tyler Technologies were worth $2,639,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TYL. Van ECK Associates Corp boosted its stake in shares of Tyler Technologies by 1,991.8% during the fourth quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock valued at $317,486,000 after purchasing an additional 524,259 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Tyler Technologies during the fourth quarter valued at approximately $159,947,000. JPMorgan Chase & Co. boosted its stake in shares of Tyler Technologies by 148.2% during the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock valued at $269,369,000 after purchasing an additional 275,511 shares during the period. Seilern Investment Management Ltd purchased a new stake in shares of Tyler Technologies during the fourth quarter valued at approximately $105,549,000. Finally, Wealthfront Advisers LLC boosted its stake in shares of Tyler Technologies by 8,973.6% during the fourth quarter. Wealthfront Advisers LLC now owns 154,433 shares of the technology company’s stock valued at $89,052,000 after purchasing an additional 152,731 shares during the period. 93.30% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Brian K. Miller sold 1,550 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 14,026 shares in the company, valued at $8,606,073.08. This trade represents a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $619.00, for a total value of $3,714,000.00. Following the transaction, the insider now owns 6,983 shares of the company’s stock, valued at $4,322,477. The trade was a 46.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,064 shares of company stock worth $8,688,030. 2.20% of the stock is owned by corporate insiders.

Tyler Technologies Price Performance

TYL opened at $566.56 on Friday. The stock has a fifty day simple moving average of $598.88 and a two-hundred day simple moving average of $597.94. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The company has a market cap of $24.42 billion, a price-to-earnings ratio of 93.49, a price-to-earnings-growth ratio of 4.93 and a beta of 0.80. Tyler Technologies, Inc. has a 12-month low of $397.80 and a 12-month high of $661.31.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data 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 return on equity of 10.15% and a net margin of 12.30%. Research analysts predict that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TYL. DA Davidson reissued a “neutral” rating and set a $575.00 price objective on shares of Tyler Technologies in a research note on Thursday, January 30th. Barclays increased their price objective on Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Truist Financial reaffirmed a “buy” rating and issued a $775.00 price target (up previously from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. The Goldman Sachs Group raised their price target on Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 price target on shares of Tyler Technologies in a research note on Tuesday, January 21st. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $676.25.

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.