Kensington Investment Counsel LLC Boosts Stake in Tyler Technologies, Inc. (NYSE:TYL)

Kensington Investment Counsel LLC raised its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 2.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 2,476 shares of the technology company’s stock after buying an additional 68 shares during the period. Kensington Investment Counsel LLC’s holdings in Tyler Technologies were worth $1,445,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Orion Portfolio Solutions LLC boosted its stake in shares of Tyler Technologies by 2.2% during the third quarter. Orion Portfolio Solutions LLC now owns 4,566 shares of the technology company’s stock valued at $2,665,000 after acquiring an additional 98 shares during the last quarter. XTX Topco Ltd purchased a new position in Tyler Technologies in the 3rd quarter valued at about $410,000. National Bank of Canada FI boosted its stake in shares of Tyler Technologies by 86.4% during the 3rd quarter. National Bank of Canada FI now owns 21,806 shares of the technology company’s stock worth $12,729,000 after purchasing an additional 10,105 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its stake in shares of Tyler Technologies by 36.2% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 2,410 shares of the technology company’s stock worth $1,407,000 after purchasing an additional 641 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Tyler Technologies by 8.1% during the third quarter. Wellington Management Group LLP now owns 150,475 shares of the technology company’s stock worth $87,835,000 after buying an additional 11,235 shares in the last quarter. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Tyler Technologies Stock Down 1.2 %

Shares of Tyler Technologies stock opened at $623.15 on Friday. The company has a fifty day moving average price of $604.80 and a 200 day moving average price of $561.56. 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, Inc. has a twelve month low of $397.80 and a twelve month high of $638.56. The stock has a market cap of $26.67 billion, a price-to-earnings ratio of 113.71, a price-to-earnings-growth ratio of 5.76 and a beta of 0.76.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, topping 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 firm had revenue of $543.34 million during the quarter, compared to analysts’ expectations of $547.34 million. During the same quarter in the prior year, the business earned $1.66 EPS. Tyler Technologies’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities research analysts forecast that Tyler Technologies, Inc. will post 7.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TYL has been the topic of several recent analyst reports. 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. StockNews.com lowered Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Friday. Needham & Company LLC lifted their price objective on Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Truist Financial reiterated a “buy” rating and issued a $685.00 target price (up from $600.00) on shares of Tyler Technologies in a research note on Friday, October 25th. Finally, DA Davidson raised their price target on Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tyler Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $642.62.

Insider Activity

In related news, CEO H Lynn Moore, Jr. sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $576.62, for a total value of $2,883,100.00. Following the transaction, the chief executive officer now owns 75,000 shares in the company, valued at approximately $43,246,500. The trade was a 6.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Brian K. Miller sold 2,500 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 11,950 shares of the company’s stock, valued at $7,461,699.50. This represents a 17.30 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,500 shares of company stock worth $27,790,888. 2.20% of the stock is currently owned by company insiders.

About Tyler Technologies

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.