Meeder Advisory Services Inc. Raises Position in Tyler Technologies, Inc. (NYSE:TYL)

Meeder Advisory Services Inc. raised its position in Tyler Technologies, Inc. (NYSE:TYL) by 48.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 849 shares of the technology company’s stock after buying an additional 277 shares during the period. Meeder Advisory Services Inc.’s holdings in Tyler Technologies were worth $427,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Independence Bank of Kentucky purchased a new position in shares of Tyler Technologies in the second quarter valued at approximately $25,000. Kapitalo Investimentos Ltda purchased a new position in Tyler Technologies in the 4th quarter valued at $26,000. Covestor Ltd boosted its stake in 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 purchasing an additional 43 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Tyler Technologies by 329.4% during the second quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after buying an additional 56 shares in the last quarter. Finally, Lynx Investment Advisory acquired a new stake in shares of Tyler Technologies in the second quarter valued at about $38,000. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on TYL. Evercore ISI upgraded shares of Tyler Technologies to a “hold” rating in a research report on Friday, July 26th. JMP Securities boosted their target price on Tyler Technologies from $490.00 to $580.00 and gave the stock a “market outperform” rating in a report on Monday, July 22nd. Piper Sandler increased their price target on Tyler Technologies from $529.00 to $625.00 and gave the company an “overweight” rating in a report on Friday, July 26th. DA Davidson lifted their price objective on Tyler Technologies from $456.00 to $525.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Finally, Oppenheimer upped their target price on Tyler Technologies from $550.00 to $625.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $582.31.

Insiders Place Their Bets

In other news, CEO H Lynn Moore, Jr. sold 5,000 shares of Tyler Technologies stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $590.98, for a total value of $2,954,900.00. Following the completion of the sale, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at $44,323,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Tyler Technologies news, CFO Brian K. Miller sold 2,500 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $586.97, for a total transaction of $1,467,425.00. Following the sale, the chief financial officer now directly owns 11,950 shares in the company, valued at approximately $7,014,291.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $590.98, for a total transaction of $2,954,900.00. Following the completion of the transaction, the chief executive officer now owns 75,000 shares of the company’s stock, valued at approximately $44,323,500. The disclosure for this sale can be found here. Insiders have sold 24,375 shares of company stock worth $14,166,639 over the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Tyler Technologies Trading Down 0.2 %

NYSE TYL opened at $581.96 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market capitalization of $24.83 billion, a P/E ratio of 131.67, a PEG ratio of 5.39 and a beta of 0.78. The firm’s 50-day moving average is $564.01 and its two-hundred day moving average is $492.95. Tyler Technologies, Inc. has a 12 month low of $361.16 and a 12 month high of $598.93.

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