Creative Planning Purchases 686 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Creative Planning raised its position in Tyler Technologies, Inc. (NYSE:TYL) by 2.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,051 shares of the technology company’s stock after acquiring an additional 686 shares during the quarter. Creative Planning owned approximately 0.06% of Tyler Technologies worth $14,039,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of TYL. Commonwealth Equity Services LLC lifted its stake in Tyler Technologies by 119.2% in the 1st quarter. Commonwealth Equity Services LLC now owns 6,517 shares of the technology company’s stock valued at $2,770,000 after purchasing an additional 3,544 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of Tyler Technologies by 39.4% during 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 during the period. State Board of Administration of Florida Retirement System increased its holdings in shares of Tyler Technologies by 7.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 46,724 shares of the technology company’s stock worth $19,858,000 after acquiring an additional 3,198 shares during the last quarter. Natixis raised its stake in Tyler Technologies by 114.0% in the 1st quarter. Natixis now owns 2,253 shares of the technology company’s stock valued at $958,000 after acquiring an additional 1,200 shares during the period. Finally, BNP Paribas acquired a new stake in Tyler Technologies during the 1st quarter valued at $1,048,000. Institutional investors own 93.30% of the company’s stock.

Tyler Technologies Stock Down 0.3 %

TYL stock opened at $586.82 on Tuesday. The company has a market cap of $25.04 billion, a PE ratio of 121.24, a price-to-earnings-growth ratio of 5.44 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, Inc. has a 52 week low of $361.16 and a 52 week high of $606.93. The business has a 50-day simple moving average of $583.71 and a 200 day simple moving average of $523.16.

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

Insider Activity

In related news, Director Daniel M. Pope sold 275 shares of the firm’s stock in a transaction dated 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 directly owns 3,218 shares of the company’s stock, valued at $1,860,840.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Brian K. Miller sold 2,000 shares of the company’s 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 completion of the transaction, the chief financial officer now directly owns 11,950 shares in the company, valued at $6,787,122. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel M. Pope sold 275 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were 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 $1,860,840.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,375 shares of company stock worth $17,049,739. Insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on TYL. JMP Securities upped their price objective on shares of Tyler Technologies from $490.00 to $580.00 and gave the company a “market outperform” rating in a report on Monday, July 22nd. DA Davidson increased their price target on shares of Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Wells Fargo & Company boosted their price objective on Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. BTIG Research increased their target price on Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Evercore ISI upgraded Tyler Technologies to a “hold” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $593.69.

Tyler Technologies Company 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.