USA Financial Formulas Invests $1.05 Million in Tyler Technologies, Inc. (NYSE:TYL)

USA Financial Formulas bought a new position in shares of Tyler Technologies, Inc. (NYSE:TYL) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,799 shares of the technology company’s stock, valued at approximately $1,050,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Independence Bank of Kentucky purchased a new stake in shares of Tyler Technologies in the 2nd quarter valued at approximately $25,000. Kapitalo Investimentos Ltda purchased a new stake in Tyler Technologies during the 4th quarter worth about $26,000. Covestor Ltd boosted its position in shares of Tyler Technologies by 153.6% during the 1st quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after acquiring an additional 43 shares in the last quarter. Blue Trust Inc. raised its position in shares of Tyler Technologies by 329.4% during the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after acquiring an additional 56 shares in the last quarter. Finally, Lynx Investment Advisory acquired a new position in Tyler Technologies in the second quarter valued at approximately $38,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Truist Financial reissued a “buy” rating and issued a $600.00 price target (up from $560.00) on shares of Tyler Technologies in a research report on Friday, July 26th. Needham & Company LLC restated a “buy” rating and set a $600.00 price target on shares of Tyler Technologies in a research note on Thursday, July 25th. The Goldman Sachs Group reiterated a “buy” rating and issued a $627.00 price objective on shares of Tyler Technologies in a research note on Friday, September 13th. BTIG Research raised their target price on shares of Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, DA Davidson upped their price target on shares of Tyler Technologies from $456.00 to $525.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Tyler Technologies currently has an average rating of “Moderate Buy” and an average price target of $591.77.

Insider Transactions at Tyler Technologies

In related news, insider John S. Marr, Jr. sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $578.94, for a total transaction of $2,894,700.00. Following the completion of the sale, the insider now owns 6,983 shares of the company’s stock, valued at approximately $4,042,738.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider John S. Marr, Jr. sold 5,000 shares of the 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 completion of the sale, the insider now directly owns 6,983 shares in the company, valued at approximately $4,042,738.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Glenn A. Carter sold 3,350 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $582.57, for a total value of $1,951,609.50. Following the completion of the transaction, the director now directly owns 2,654 shares in the company, valued at $1,546,140.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,375 shares of company stock worth $17,049,739 in the last three months. 2.20% of the stock is currently owned by company insiders.

Tyler Technologies Price Performance

TYL opened at $590.66 on Thursday. Tyler Technologies, Inc. has a 1 year low of $361.16 and a 1 year high of $598.93. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.06 and a current ratio of 1.06. The company’s 50 day simple moving average is $580.77 and its 200 day simple moving average is $512.75. The stock has a market capitalization of $25.20 billion, a PE ratio of 133.63, a P/E/G ratio of 5.36 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.06. The company 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%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.53 EPS. As a group, sell-side analysts expect that Tyler Technologies, Inc. will post 7.21 EPS for the current year.

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.