Vanguard Group Inc. Purchases 55,629 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Vanguard Group Inc. boosted its position in Tyler Technologies, Inc. (NYSE:TYL) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,969,048 shares of the technology company’s stock after acquiring an additional 55,629 shares during the quarter. Vanguard Group Inc. owned 11.75% of Tyler Technologies worth $2,077,658,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TYL. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Tyler Technologies during the fourth quarter worth $31,000. Headlands Technologies LLC bought a new stake in shares of Tyler Technologies during the fourth quarter worth $40,000. Lindbrook Capital LLC grew its stake in shares of Tyler Technologies by 50.6% during the fourth quarter. Lindbrook Capital LLC now owns 116 shares of the technology company’s stock worth $49,000 after buying an additional 39 shares during the last quarter. Chilton Capital Management LLC bought a new stake in shares of Tyler Technologies during the fourth quarter worth $52,000. Finally, Headinvest LLC bought a new stake in shares of Tyler Technologies during the third quarter worth $78,000. 93.30% of the stock is owned by institutional investors.

Tyler Technologies Price Performance

TYL stock opened at $472.90 on Wednesday. The firm has a market cap of $20.08 billion, a price-to-earnings ratio of 106.99, a PEG ratio of 4.39 and a beta of 0.74. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.20. Tyler Technologies, Inc. has a 12-month low of $361.16 and a 12-month high of $500.49. The company’s fifty day simple moving average is $463.40 and its 200 day simple moving average is $437.22.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, April 24th. The technology company reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.26. The business had revenue of $512.36 million for the quarter, compared to analyst estimates of $507.79 million. Tyler Technologies had a net margin of 9.50% and a return on equity of 9.35%. On average, analysts expect that Tyler Technologies, Inc. will post 7.1 earnings per share for the current year.

Wall Street Analyst Weigh In

TYL has been the topic of a number of research reports. JMP Securities reaffirmed a “market outperform” rating and set a $490.00 target price on shares of Tyler Technologies in a research note on Friday, April 26th. Truist Financial reaffirmed a “buy” rating and set a $560.00 target price (up previously from $510.00) on shares of Tyler Technologies in a research note on Thursday, May 23rd. Oppenheimer lifted their price target on shares of Tyler Technologies from $500.00 to $550.00 and gave the stock an “outperform” rating in a report on Wednesday, May 22nd. Needham & Company LLC lifted their price target on shares of Tyler Technologies from $500.00 to $600.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Finally, Loop Capital lifted their price target on shares of Tyler Technologies from $485.00 to $530.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $519.09.

Insider Activity

In other news, CEO H Lynn Moore, Jr. sold 5,250 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $481.83, for a total transaction of $2,529,607.50. Following the transaction, the chief executive officer now owns 75,000 shares in the company, valued at $36,137,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO H Lynn Moore, Jr. sold 5,250 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $481.83, for a total transaction of $2,529,607.50. Following the transaction, the chief executive officer now owns 75,000 shares in the company, valued at $36,137,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel M. Pope sold 520 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $491.18, for a total transaction of $255,413.60. Following the transaction, the director now owns 3,493 shares in the company, valued at approximately $1,715,691.74. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,241 shares of company stock worth $12,495,890. Company insiders own 1.50% of the company’s stock.

Tyler Technologies 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.