Tyler Technologies, Inc. (NYSE:TYL) Stock Position Raised by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund increased its position in Tyler Technologies, Inc. (NYSE:TYL) by 15.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,323 shares of the technology company’s stock after purchasing an additional 588 shares during the period. Illinois Municipal Retirement Fund’s holdings in Tyler Technologies were worth $2,493,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB boosted its position in shares of Tyler Technologies by 18.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the technology company’s stock worth $78,000 after buying an additional 21 shares during the period. Baron Wealth Management LLC boosted its position in Tyler Technologies by 1.5% during the 4th quarter. Baron Wealth Management LLC now owns 1,487 shares of the technology company’s stock worth $857,000 after acquiring an additional 22 shares during the period. Choreo LLC grew its stake in Tyler Technologies by 3.9% during the 4th quarter. Choreo LLC now owns 647 shares of the technology company’s stock valued at $374,000 after acquiring an additional 24 shares in the last quarter. Oak Ridge Investments LLC grew its stake in Tyler Technologies by 0.8% during the 4th quarter. Oak Ridge Investments LLC now owns 3,011 shares of the technology company’s stock valued at $1,736,000 after acquiring an additional 25 shares in the last quarter. Finally, Mather Group LLC. increased its holdings in shares of Tyler Technologies by 9.0% in the 4th quarter. Mather Group LLC. now owns 315 shares of the technology company’s stock valued at $182,000 after purchasing an additional 26 shares during the period. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Tyler Technologies Price Performance

NYSE TYL opened at $605.16 on Friday. Tyler Technologies, Inc. has a fifty-two week low of $397.80 and a fifty-two week high of $661.31. The stock’s 50-day moving average is $598.17 and its two-hundred day moving average is $597.36. The firm has a market cap of $26.03 billion, a P/E ratio of 99.86, a price-to-earnings-growth ratio of 4.93 and a beta of 0.78. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. On average, analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on TYL. The Goldman Sachs Group raised their price target on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Needham & Company LLC reissued a “buy” rating and set a $700.00 target price on shares of Tyler Technologies in a research note on Tuesday, January 21st. Barclays upped their price target on shares of Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Wells Fargo & Company reiterated an “equal weight” rating and set a $615.00 price objective (down from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. Finally, Piper Sandler boosted their target price on Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Tyler Technologies presently has an average rating of “Moderate Buy” and an average price target of $676.25.

Insider Activity

In related news, CFO Brian K. Miller sold 6,752 shares of Tyler Technologies stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $613.75, for a total transaction of $4,144,040.00. Following the sale, the chief financial officer now directly owns 11,918 shares of the company’s stock, valued at $7,314,672.50. This trade represents a 36.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $633.55, for a total value of $3,801,300.00. Following the sale, the insider now directly owns 6,983 shares in the company, valued at $4,424,079.65. The trade was a 46.21 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,252 shares of company stock valued at $9,525,365. 2.20% of the stock is 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.