Sanctuary Advisors LLC purchased a new stake in Tyler Technologies, Inc. (NYSE:TYL – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,377 shares of the technology company’s stock, valued at approximately $988,000.
Other hedge funds have also recently bought and sold shares of the company. DV Equities LLC acquired a new position in shares of Tyler Technologies in the 4th quarter valued at approximately $27,000. Elyxium Wealth LLC bought a new position in Tyler Technologies in the fourth quarter valued at approximately $29,000. Advisors Asset Management Inc. bought a new position in Tyler Technologies in the first quarter valued at approximately $38,000. Bayban acquired a new position in Tyler Technologies during the fourth quarter valued at approximately $30,000. Finally, Geneos Wealth Management Inc. lifted its stake in Tyler Technologies by 137.9% during the first quarter. Geneos Wealth Management Inc. now owns 69 shares of the technology company’s stock worth $40,000 after purchasing an additional 40 shares during the last quarter. 93.30% of the stock is owned by institutional investors.
Tyler Technologies Price Performance
TYL stock opened at $370.37 on Friday. The company has a market capitalization of $15.17 billion, a P/E ratio of 49.12, a PEG ratio of 2.32 and a beta of 0.81. The company has a fifty day moving average price of $314.86 and a 200-day moving average price of $323.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.55 and a current ratio of 1.55. Tyler Technologies, Inc. has a 52-week low of $270.71 and a 52-week high of $566.58.
Insider Activity at Tyler Technologies
In related news, COO Jeffrey David Puckett sold 8,500 shares of Tyler Technologies stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $356.44, for a total value of $3,029,740.00. Following the transaction, the chief operating officer directly owned 7,784 shares of the company’s stock, valued at $2,774,528.96. The trade was a 52.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on TYL. Barclays lifted their price target on Tyler Technologies from $420.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, June 10th. Cantor Fitzgerald raised their price target on shares of Tyler Technologies from $325.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Truist Financial set a $440.00 price objective on shares of Tyler Technologies in a research report on Friday, May 1st. DA Davidson reaffirmed a “buy” rating and set a $460.00 target price on shares of Tyler Technologies in a research note on Wednesday, June 10th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Tyler Technologies in a report on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Tyler Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $456.72.
Check Out Our Latest Analysis on TYL
About Tyler Technologies
Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.
Tyler’s product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.
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