2Xideas AG Has $15.36 Million Stake in Tyler Technologies, Inc. (NYSE:TYL)

2Xideas AG boosted its stake in Tyler Technologies, Inc. (NYSE:TYL) by 29.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,145 shares of the technology company’s stock after buying an additional 8,144 shares during the quarter. Tyler Technologies makes up 1.9% of 2Xideas AG’s investment portfolio, making the stock its 18th largest holding. 2Xideas AG owned 0.09% of Tyler Technologies worth $15,362,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Kapitalo Investimentos Ltda bought a new stake in Tyler Technologies in the 4th quarter worth about $26,000. Covestor Ltd increased its position in shares of Tyler Technologies by 153.6% during the first quarter. Covestor Ltd now owns 71 shares of the technology company’s stock valued at $30,000 after acquiring an additional 43 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Tyler Technologies during the fourth quarter worth $31,000. Headlands Technologies LLC purchased a new position in Tyler Technologies in the fourth quarter worth $40,000. Finally, Larson Financial Group LLC grew its stake in Tyler Technologies by 675.0% in the 1st quarter. Larson Financial Group LLC now owns 93 shares of the technology company’s stock valued at $40,000 after purchasing an additional 81 shares during the period. Institutional investors own 93.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on TYL shares. BTIG Research lifted their price objective on shares of Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a research report on Friday. Robert W. Baird boosted their price objective on Tyler Technologies from $500.00 to $525.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Piper Sandler increased their target price on shares of Tyler Technologies from $529.00 to $625.00 and gave the stock an “overweight” rating in a research report on Friday. Evercore ISI raised shares of Tyler Technologies to a “hold” rating in a research report on Friday. Finally, Wells Fargo & Company raised their price objective on shares of Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Tyler Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $582.31.

Tyler Technologies Price Performance

Shares of TYL stock traded down $2.45 on Tuesday, reaching $574.54. The company’s stock had a trading volume of 300,571 shares, compared to its average volume of 226,258. Tyler Technologies, Inc. has a 12-month low of $361.16 and a 12-month high of $593.50. The stock’s 50 day simple moving average is $502.61 and its 200-day simple moving average is $459.44. The company has a quick ratio of 0.94, a current ratio of 1.06 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $24.39 billion, a P/E ratio of 129.99, a PEG ratio of 6.06 and a beta of 0.76.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.06. The firm had revenue of $540.98 million for the quarter, compared to analysts’ expectations of $541.01 million. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.53 EPS. As a group, equities analysts predict that Tyler Technologies, Inc. will post 6.5 earnings per share for the current fiscal year.

Insider Activity

In related news, insider John S. Marr, Jr. sold 6,000 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $483.21, for a total value of $2,899,260.00. Following the transaction, the insider now owns 6,983 shares of the company’s stock, valued at $3,374,255.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Tyler Technologies news, Director Daniel M. Pope sold 520 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $491.18, for a total transaction of $255,413.60. Following the transaction, the director now owns 3,493 shares in the company, valued at approximately $1,715,691.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John S. Marr, Jr. sold 6,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $483.21, for a total transaction of $2,899,260.00. Following the sale, the insider now owns 6,983 shares in the company, valued at approximately $3,374,255.43. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,241 shares of company stock worth $10,201,740. 2.20% of the stock is currently owned by corporate insiders.

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.