Choreo LLC Takes Position in Tyler Technologies, Inc. (NYSE:TYL)

Choreo LLC purchased a new stake in shares of Tyler Technologies, Inc. (NYSE:TYL) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 509 shares of the technology company’s stock, valued at approximately $254,000.

A number of other hedge funds have also recently made changes to their positions in the company. Gilbert & Cook Inc. raised its position in shares of Tyler Technologies by 7.6% during the fourth quarter. Gilbert & Cook Inc. now owns 1,437 shares of the technology company’s stock worth $601,000 after acquiring an additional 102 shares during the last quarter. Private Advisor Group LLC increased its holdings in Tyler Technologies by 16.6% in the fourth quarter. Private Advisor Group LLC now owns 814 shares of the technology company’s stock worth $340,000 after purchasing an additional 116 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Tyler Technologies by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 141,464 shares of the technology company’s stock worth $59,150,000 after purchasing an additional 3,961 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in Tyler Technologies by 5.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 670 shares of the technology company’s stock worth $280,000 after purchasing an additional 33 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in Tyler Technologies by 0.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 10,965 shares of the technology company’s stock worth $4,585,000 after purchasing an additional 34 shares in the last quarter. 93.30% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tyler Technologies news, insider John S. Marr, Jr. sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $578.94, for a total value of $2,894,700.00. Following the transaction, the insider now owns 6,983 shares of the company’s stock, valued at $4,042,738.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO H Lynn Moore, Jr. sold 6,250 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $576.49, for a total transaction of $3,603,062.50. Following the transaction, the chief executive officer now owns 75,000 shares of the company’s stock, valued at approximately $43,236,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John S. Marr, Jr. sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $578.94, for a total value of $2,894,700.00. Following the transaction, the insider now directly owns 6,983 shares in the company, valued at approximately $4,042,738.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,375 shares of company stock valued at $17,049,739. Insiders own 2.20% of the company’s stock.

Tyler Technologies Stock Up 0.0 %

Shares of NYSE:TYL opened at $579.49 on Thursday. The business’s 50 day moving average is $568.26 and its 200 day moving average is $495.94. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.19. Tyler Technologies, Inc. has a 12-month low of $361.16 and a 12-month high of $598.93. The stock has a market cap of $24.73 billion, a price-to-earnings ratio of 131.11, a PEG ratio of 5.39 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.06. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The business had revenue of $540.98 million for the quarter, compared to analysts’ expectations of $541.01 million. During the same quarter in the previous year, the firm earned $1.53 earnings per share. The business’s revenue was up 7.3% on a year-over-year basis. On average, sell-side analysts forecast that Tyler Technologies, Inc. will post 7.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on TYL. Oppenheimer lifted their target price on Tyler Technologies from $550.00 to $625.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. BTIG Research boosted their price objective on Tyler Technologies from $550.00 to $630.00 and gave the company a “buy” rating in a report on Friday, July 26th. JMP Securities boosted their price objective on Tyler Technologies from $490.00 to $580.00 and gave the company a “market outperform” rating in a report on Monday, July 22nd. Evercore ISI upgraded Tyler Technologies to a “hold” rating in a report on Friday, July 26th. Finally, Barclays boosted their price objective on Tyler Technologies from $515.00 to $577.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Tyler Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $582.31.

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.