Tyler Technologies, Inc. (NYSE:TYL) Stock Holdings Lifted by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC raised its stake in Tyler Technologies, Inc. (NYSE:TYL) by 8.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,025 shares of the technology company’s stock after buying an additional 3,521 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.11% of Tyler Technologies worth $23,141,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of TYL. Independence Bank of Kentucky bought a new position in shares of Tyler Technologies in the second quarter valued at $25,000. Kapitalo Investimentos Ltda acquired a new stake in Tyler Technologies during the 4th quarter valued at $26,000. Covestor Ltd raised its stake in Tyler Technologies by 153.6% during the 1st quarter. Covestor Ltd now owns 71 shares of the technology company’s stock valued at $30,000 after purchasing an additional 43 shares during the period. Blue Trust Inc. raised its stake in Tyler Technologies by 329.4% during the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock valued at $37,000 after purchasing an additional 56 shares during the period. Finally, Lynx Investment Advisory acquired a new stake in Tyler Technologies during the 2nd quarter valued at $38,000. Institutional investors own 93.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TYL shares. Truist Financial reissued a “buy” rating and set a $600.00 target price (up from $560.00) on shares of Tyler Technologies in a research note on Friday, July 26th. Piper Sandler boosted their target price on shares of Tyler Technologies from $529.00 to $625.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Wells Fargo & Company boosted their target price on shares of Tyler Technologies from $580.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. The Goldman Sachs Group reissued a “buy” rating and set a $627.00 target price on shares of Tyler Technologies in a research note on Friday, September 13th. Finally, JMP Securities boosted their price target on shares of Tyler Technologies from $490.00 to $580.00 and gave the company a “market outperform” rating in a report on Monday, July 22nd. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $582.31.

Tyler Technologies Trading Down 0.4 %

Shares of NYSE:TYL opened at $577.80 on Friday. The stock has a market capitalization of $24.53 billion, a PE ratio of 130.72, a P/E/G ratio of 5.42 and a beta of 0.78. Tyler Technologies, Inc. has a 1 year low of $361.16 and a 1 year high of $598.93. The firm has a fifty day moving average price of $570.67 and a 200 day moving average price of $498.05. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.19.

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

Insider Buying and Selling

In other Tyler Technologies news, Director Daniel M. Pope sold 275 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $578.26, for a total transaction of $159,021.50. Following the completion of the transaction, the director now owns 3,218 shares of the company’s stock, valued at approximately $1,860,840.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 5,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $576.62, for a total transaction of $2,883,100.00. Following the completion of the transaction, the chief executive officer now owns 75,000 shares of the company’s stock, valued at approximately $43,246,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel M. Pope sold 275 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $578.26, for a total transaction of $159,021.50. Following the transaction, the director now directly owns 3,218 shares of the company’s stock, valued at approximately $1,860,840.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,375 shares of company stock worth $17,049,739. Corporate insiders own 2.20% of the company’s stock.

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.