Icon Wealth Advisors LLC Boosts Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Icon Wealth Advisors LLC grew its stake in Tyler Technologies, Inc. (NYSE:TYL) by 151.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,799 shares of the technology company’s stock after purchasing an additional 2,286 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Tyler Technologies were worth $2,218,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its position in shares of Tyler Technologies by 4.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 904,175 shares of the technology company’s stock worth $527,785,000 after purchasing an additional 36,066 shares in the last quarter. Trustmark National Bank Trust Department purchased a new stake in shares of Tyler Technologies during the third quarter worth $1,288,000. Citizens Financial Group Inc. RI purchased a new stake in shares of Tyler Technologies during the third quarter worth $206,000. EULAV Asset Management raised its position in shares of Tyler Technologies by 3.0% in the third quarter. EULAV Asset Management now owns 228,984 shares of the technology company’s stock valued at $133,663,000 after buying an additional 6,601 shares during the last quarter. Finally, Kirtland Hills Capital Management LLC lifted its stake in shares of Tyler Technologies by 4.1% in the third quarter. Kirtland Hills Capital Management LLC now owns 1,583 shares of the technology company’s stock worth $924,000 after buying an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TYL. Barclays upped their price objective on shares of Tyler Technologies from $700.00 to $705.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Piper Sandler increased their price target on Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a report on Friday, October 25th. BTIG Research boosted their price objective on Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $627.00 target price on shares of Tyler Technologies in a research note on Friday, September 13th. Finally, Evercore ISI raised shares of Tyler Technologies to a “hold” rating in a research report on Friday, July 26th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tyler Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $642.62.

Insider Activity at Tyler Technologies

In related news, CEO H Lynn Moore, Jr. sold 6,250 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $605.82, for a total value of $3,786,375.00. Following the completion of the transaction, the chief executive officer now owns 75,000 shares in the company, valued at approximately $45,436,500. The trade was a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brian K. Miller sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $586.97, for a total transaction of $1,467,425.00. Following the sale, the chief financial officer now directly owns 11,950 shares in the company, valued at approximately $7,014,291.50. The trade was a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,600 shares of company stock worth $16,412,595. 2.20% of the stock is currently owned by company insiders.

Tyler Technologies Price Performance

Shares of TYL opened at $609.09 on Friday. The firm has a 50-day simple moving average of $594.68 and a two-hundred day simple moving average of $550.24. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. Tyler Technologies, Inc. has a 1-year low of $397.80 and a 1-year high of $631.43. The stock has a market cap of $26.07 billion, a PE ratio of 111.15, a P/E/G ratio of 5.41 and a beta of 0.77.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The company had revenue of $543.34 million for the quarter, compared to analyst estimates of $547.34 million. During the same quarter in the previous year, the company earned $1.66 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, analysts forecast that Tyler Technologies, Inc. will post 7.36 EPS for the current year.

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.