Tyler Technologies, Inc. (NYSE:TYL) Shares Bought by Rafferty Asset Management LLC

Rafferty Asset Management LLC raised its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,565 shares of the technology company’s stock after acquiring an additional 31 shares during the quarter. Rafferty Asset Management LLC’s holdings in Tyler Technologies were worth $8,399,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Larson Financial Group LLC increased its position in shares of Tyler Technologies by 221.4% in the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock valued at $26,000 after buying an additional 31 shares in the last quarter. Sierra Ocean LLC purchased a new position in shares of Tyler Technologies in the fourth quarter valued at $32,000. Brown Brothers Harriman & Co. increased its position in shares of Tyler Technologies by 300.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock valued at $32,000 after buying an additional 42 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in Tyler Technologies during the 4th quarter worth about $40,000. Finally, OFI Invest Asset Management purchased a new stake in Tyler Technologies during the 4th quarter worth about $41,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

Tyler Technologies Trading Up 0.7%

Shares of NYSE TYL opened at $576.86 on Friday. The business has a fifty day simple moving average of $561.21 and a 200-day simple moving average of $589.54. The company has a market cap of $24.88 billion, a price-to-earnings ratio of 95.19, a P/E/G ratio of 4.93 and a beta of 0.88. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. Tyler Technologies, Inc. has a 12 month low of $458.50 and a 12 month high of $661.31.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.22. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. The firm had revenue of $562.43 million during the quarter, compared to the consensus estimate of $556.45 million. During the same period in the prior year, the business earned $2.20 EPS. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. Sell-side analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on TYL shares. The Goldman Sachs Group lifted their price objective on Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Needham & Company LLC reiterated a “buy” rating and set a $750.00 price objective on shares of Tyler Technologies in a research report on Tuesday, May 13th. Truist Financial reiterated a “buy” rating and set a $775.00 price objective (up previously from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Piper Sandler dropped their price objective on Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating for the company in a research report on Friday, April 25th. Finally, Robert W. Baird dropped their price objective on Tyler Technologies from $785.00 to $700.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $674.67.

Insider Activity

In related news, CEO H Lynn Moore, Jr. sold 6,514 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the completion of the sale, the chief executive officer now owns 75,734 shares in the company, valued at $46,772,561.06. This represents a 7.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John S. Marr, Jr. sold 5,000 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $558.86, for a total value of $2,794,300.00. Following the sale, the insider now owns 6,983 shares of the company’s stock, valued at approximately $3,902,519.38. The trade was a 41.73% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,462 shares of company stock valued at $12,258,926. Insiders own 1.10% of the company’s stock.

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.