Wealth Alliance Purchases 35 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Wealth Alliance grew its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 4.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 761 shares of the technology company’s stock after acquiring an additional 35 shares during the quarter. Wealth Alliance’s holdings in Tyler Technologies were worth $383,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Independence Bank of Kentucky acquired a new position in Tyler Technologies during the second quarter worth $25,000. Kapitalo Investimentos Ltda bought a new stake in Tyler Technologies during the 4th quarter worth about $26,000. Covestor Ltd boosted its stake 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 buying an additional 43 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Tyler Technologies by 329.4% in the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock valued at $37,000 after acquiring 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 owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wells Fargo & Company boosted their price target on Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $627.00 price target on shares of Tyler Technologies in a research report on Friday, September 13th. Evercore ISI raised shares of Tyler Technologies to a “hold” rating in a research report on Friday, July 26th. Needham & Company LLC restated a “buy” rating and set a $600.00 price objective on shares of Tyler Technologies in a research note on Thursday, July 25th. Finally, Oppenheimer lifted their price target on Tyler Technologies from $550.00 to $625.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Tyler Technologies has an average rating of “Moderate Buy” and a consensus target price of $582.31.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,250 shares of Tyler Technologies stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $576.49, for a total value of $3,603,062.50. Following the transaction, the chief executive officer now owns 75,000 shares in the company, valued at $43,236,750. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO H Lynn Moore, Jr. sold 6,250 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $576.49, for a total value of $3,603,062.50. Following the sale, the chief executive officer now directly owns 75,000 shares in the company, valued at approximately $43,236,750. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Brian K. Miller sold 2,000 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $567.96, for a total transaction of $1,135,920.00. Following the sale, the chief financial officer now directly owns 11,950 shares in the company, valued at $6,787,122. The disclosure for this sale can be found here. Insiders sold a total of 29,375 shares of company stock worth $17,049,739 over the last three months. Corporate insiders own 2.20% of the company’s stock.

Tyler Technologies Stock Performance

Shares of NYSE:TYL opened at $580.13 on Friday. Tyler Technologies, Inc. has a 12-month low of $361.16 and a 12-month high of $598.93. The company’s 50 day moving average price is $569.57 and its two-hundred day moving average price is $496.52. The firm has a market cap of $24.75 billion, a PE ratio of 131.25, a PEG ratio of 5.42 and a beta of 0.78. 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 (NYSE:TYL) last released its earnings results on Wednesday, July 24th. The technology company reported $2.40 earnings per share (EPS) 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 company had revenue of $540.98 million for the quarter, compared to analyst estimates of $541.01 million. During the same period in the prior year, the firm posted $1.53 EPS. Tyler Technologies’s quarterly revenue was up 7.3% on a year-over-year basis. Equities research analysts predict 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.