Centiva Capital LP Invests $887,000 in Tyler Technologies, Inc. (NYSE:TYL)

Centiva Capital LP purchased a new stake in Tyler Technologies, Inc. (NYSE:TYL) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,520 shares of the technology company’s stock, valued at approximately $887,000.

A number of other hedge funds have also recently bought and sold shares of the business. Waldron Private Wealth LLC boosted its stake in shares of Tyler Technologies by 3.5% during the 2nd quarter. Waldron Private Wealth LLC now owns 716 shares of the technology company’s stock valued at $360,000 after buying an additional 24 shares during the last quarter. FWG Holdings LLC boosted its stake in Tyler Technologies by 3.1% during the 3rd quarter. FWG Holdings LLC now owns 910 shares of the technology company’s stock valued at $551,000 after acquiring an additional 27 shares during the last quarter. George Kaiser Family Foundation grew its holdings in Tyler Technologies by 0.7% during the 2nd quarter. George Kaiser Family Foundation now owns 4,177 shares of the technology company’s stock worth $2,100,000 after acquiring an additional 29 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Tyler Technologies by 2.3% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,377 shares of the technology company’s stock worth $804,000 after purchasing an additional 31 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in shares of Tyler Technologies by 2.4% in the 3rd quarter. UMB Bank n.a. now owns 1,354 shares of the technology company’s stock valued at $790,000 after purchasing an additional 32 shares in the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

Insider Activity at Tyler Technologies

In related news, insider John S. Marr, Jr. sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the sale, the insider now owns 6,983 shares of the company’s stock, valued at $4,285,187.78. The trade was a 63.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian K. Miller sold 2,500 shares of Tyler Technologies stock in a transaction on Friday, November 8th. The shares were sold at an average price of $624.41, for a total value of $1,561,025.00. Following the transaction, the chief financial officer now owns 11,950 shares in the company, valued at approximately $7,461,699.50. This trade represents a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,000 shares of company stock worth $22,409,563 over the last ninety days. 2.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently commented on TYL. StockNews.com downgraded Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Friday. The Goldman Sachs Group reiterated a “buy” rating and issued a $627.00 price target on shares of Tyler Technologies in a report on Friday, September 13th. Piper Sandler raised their price objective on Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Truist Financial reiterated a “buy” rating and set a $685.00 target price (up previously from $600.00) on shares of Tyler Technologies in a research note on Friday, October 25th. Finally, JMP Securities raised their price target on shares of Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a research report on Friday, October 25th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $642.62.

Tyler Technologies Price Performance

NYSE TYL opened at $630.27 on Friday. The company has a 50-day moving average price of $603.88 and a two-hundred day moving average price of $560.21. Tyler Technologies, Inc. has a 52 week low of $397.80 and a 52 week high of $638.56. The stock has a market cap of $26.98 billion, a price-to-earnings ratio of 115.01, a price-to-earnings-growth ratio of 5.64 and a beta of 0.76. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The firm had revenue of $543.34 million for the quarter, compared to analysts’ expectations of $547.34 million. During the same period last year, the firm earned $1.66 EPS. The firm’s revenue was up 9.8% compared to the same quarter last year. 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.