Tyler Technologies, Inc. (NYSE:TYL) Position Decreased by Squarepoint Ops LLC

Squarepoint Ops LLC reduced its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 34.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,222 shares of the technology company’s stock after selling 3,773 shares during the quarter. Squarepoint Ops LLC’s holdings in Tyler Technologies were worth $3,631,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TYL. Independence Bank of Kentucky purchased a new position in Tyler Technologies in the 2nd quarter worth about $25,000. Kapitalo Investimentos Ltda acquired a new position in shares of Tyler Technologies in the fourth quarter worth about $26,000. Covestor Ltd increased its position in shares of Tyler Technologies by 153.6% in the first 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 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 valued at $37,000 after acquiring an additional 56 shares during the period. Finally, Lynx Investment Advisory purchased a new stake in shares of Tyler Technologies in the 2nd quarter valued at approximately $38,000. 93.30% of the stock is owned by institutional investors and hedge funds.

Tyler Technologies Trading Down 0.9 %

Tyler Technologies stock opened at $578.64 on Wednesday. Tyler Technologies, Inc. has a one year low of $361.16 and a one year high of $598.93. The company’s fifty day moving average price is $577.32 and its two-hundred day moving average price is $505.30. The company has a market capitalization of $24.69 billion, a price-to-earnings ratio of 130.91, a PEG ratio of 5.34 and a beta of 0.78. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.06 and a quick ratio of 1.06.

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

Insider Transactions at Tyler Technologies

In related news, Director Daniel M. Pope sold 275 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $578.26, for a total value of $159,021.50. Following the transaction, the director now directly owns 3,218 shares in the company, valued at approximately $1,860,840.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO H Lynn Moore, Jr. sold 6,250 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $576.49, for a total transaction of $3,603,062.50. Following the completion of the transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at $43,236,750. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Daniel M. Pope sold 275 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $578.26, for a total transaction of $159,021.50. Following the completion of the sale, the director now owns 3,218 shares in the company, valued at approximately $1,860,840.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,375 shares of company stock worth $17,049,739. 2.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on TYL shares. Barclays lifted their price objective on shares of Tyler Technologies from $515.00 to $577.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Truist Financial reissued a “buy” rating and set a $600.00 price target (up from $560.00) on shares of Tyler Technologies in a research report on Friday, July 26th. Wells Fargo & Company raised their price objective on Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. JMP Securities lifted their target price on Tyler Technologies from $490.00 to $580.00 and gave the company a “market outperform” rating in a research note on Monday, July 22nd. Finally, DA Davidson increased their price target on shares of Tyler Technologies from $456.00 to $525.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Tyler Technologies has a consensus rating of “Moderate Buy” and a consensus 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.