Bridges Investment Management Inc. Acquires New Shares in Tyler Technologies, Inc. (NYSE:TYL)

Bridges Investment Management Inc. bought a new stake in shares of Tyler Technologies, Inc. (NYSE:TYL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 570 shares of the technology company’s stock, valued at approximately $287,000.

Several other large investors have also modified their holdings of the business. Commonwealth Equity Services LLC increased its holdings in Tyler Technologies by 119.2% during the first quarter. Commonwealth Equity Services LLC now owns 6,517 shares of the technology company’s stock valued at $2,770,000 after buying an additional 3,544 shares during the period. Bessemer Group Inc. raised its position in shares of Tyler Technologies by 39.4% in the 1st quarter. Bessemer Group Inc. now owns 6,840 shares of the technology company’s stock worth $2,906,000 after acquiring an additional 1,935 shares in the last quarter. Rafferty Asset Management LLC lifted its stake in shares of Tyler Technologies by 26.8% during the 4th quarter. Rafferty Asset Management LLC now owns 13,972 shares of the technology company’s stock worth $5,842,000 after purchasing an additional 2,951 shares during the last quarter. APG Asset Management US Inc. bought a new stake in Tyler Technologies during the fourth quarter valued at about $57,493,000. Finally, State Board of Administration of Florida Retirement System grew its stake in 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 purchasing an additional 3,198 shares during the last quarter. Institutional investors own 93.30% of the company’s stock.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, insider John S. Marr, Jr. sold 5,000 shares of Tyler Technologies stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $578.94, for a total transaction of $2,894,700.00. Following the completion of the transaction, the insider now owns 6,983 shares in the company, valued at approximately $4,042,738.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Tyler Technologies news, CFO Brian K. Miller sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $567.96, for a total value of $1,135,920.00. Following the sale, the chief financial officer now owns 11,950 shares in the company, valued at approximately $6,787,122. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John S. Marr, Jr. sold 5,000 shares of Tyler Technologies 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 transaction, the insider now directly owns 6,983 shares of the company’s stock, valued at $4,042,738.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,375 shares of company stock valued at $17,049,739. 2.20% of the stock is owned by insiders.

Tyler Technologies Trading Down 0.4 %

Tyler Technologies stock opened at $577.80 on Monday. The stock has a 50-day moving average price of $570.67 and a 200 day moving average price of $498.60. The company has a market capitalization of $24.53 billion, a price-to-earnings ratio of 130.72, a price-to-earnings-growth ratio of 5.42 and a beta of 0.78. Tyler Technologies, Inc. has a 52 week low of $361.16 and a 52 week high of $598.93. 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 announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.40 EPS for the quarter, beating the consensus estimate of $2.34 by $0.06. The business 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 business posted $1.53 EPS. Sell-side analysts anticipate that Tyler Technologies, Inc. will post 7.21 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TYL shares. Oppenheimer raised their price target on shares of Tyler Technologies from $550.00 to $625.00 and gave the company an “outperform” rating in a report on Friday, July 26th. JMP Securities lifted their price target on shares of Tyler Technologies from $490.00 to $580.00 and gave the stock a “market outperform” rating in a report on Monday, July 22nd. DA Davidson upped their price target on Tyler Technologies from $456.00 to $525.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Needham & Company LLC reissued a “buy” rating and issued a $600.00 price objective on shares of Tyler Technologies in a research report on Thursday, July 25th. Finally, Truist Financial reaffirmed a “buy” rating and set a $600.00 target price (up from $560.00) on shares of Tyler Technologies in a research report on Friday, July 26th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $582.31.

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.