Summit Trail Advisors LLC Raises Position in Tyler Technologies, Inc. (NYSE:TYL)

Summit Trail Advisors LLC increased its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 10.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,032 shares of the technology company’s stock after acquiring an additional 287 shares during the period. Summit Trail Advisors LLC’s holdings in Tyler Technologies were worth $1,524,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Commonwealth Equity Services LLC grew its holdings in shares of Tyler Technologies by 119.2% in the first quarter. Commonwealth Equity Services LLC now owns 6,517 shares of the technology company’s stock valued at $2,770,000 after acquiring an additional 3,544 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Tyler Technologies by 39.4% in the first quarter. Bessemer Group Inc. now owns 6,840 shares of the technology company’s stock valued at $2,906,000 after acquiring an additional 1,935 shares in the last quarter. Rafferty Asset Management LLC grew its holdings in shares of Tyler Technologies by 26.8% in the fourth quarter. Rafferty Asset Management LLC now owns 13,972 shares of the technology company’s stock valued at $5,842,000 after acquiring an additional 2,951 shares in the last quarter. APG Asset Management US Inc. bought a new position in shares of Tyler Technologies in the fourth quarter valued at approximately $57,493,000. Finally, State Board of Administration of Florida Retirement System grew its holdings in shares of Tyler Technologies by 7.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 46,724 shares of the technology company’s stock valued at $19,858,000 after acquiring an additional 3,198 shares in the last quarter. 93.30% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Daniel M. Pope sold 275 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $578.26, for a total value of $159,021.50. Following the sale, the director now owns 3,218 shares in the company, valued at $1,860,840.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Daniel M. Pope sold 275 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $578.26, for a total value of $159,021.50. Following the sale, the director now owns 3,218 shares in the company, valued at $1,860,840.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 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 worth $17,049,739. Corporate insiders own 2.20% of the company’s stock.

Tyler Technologies Price Performance

Tyler Technologies stock opened at $577.80 on Friday. Tyler Technologies, Inc. has a one year low of $361.16 and a one year high of $598.93. The business has a fifty day moving average price of $570.67 and a 200-day moving average price of $498.05. 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 firm has a market capitalization of $24.53 billion, a P/E ratio of 130.72, a PEG ratio of 5.42 and a beta of 0.78.

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. 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 the consensus estimate of $541.01 million. During the same quarter last year, the business posted $1.53 earnings per share. The firm’s revenue was up 7.3% compared to the same quarter last year. As a group, equities research analysts forecast that Tyler Technologies, Inc. will post 7.21 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. DA Davidson upped their target price on Tyler Technologies from $456.00 to $525.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Wells Fargo & Company increased their price objective on Tyler Technologies from $580.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Oppenheimer increased their price objective on Tyler Technologies from $550.00 to $625.00 and gave the company an “outperform” rating in a report on Friday, July 26th. BTIG Research increased 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. Finally, Barclays increased 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 equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $582.31.

Tyler Technologies 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.