Frank Rimerman Advisors LLC Raises Position in Tyler Technologies, Inc. (NYSE:TYL)

Frank Rimerman Advisors LLC grew its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 121.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 860 shares of the technology company’s stock after purchasing an additional 471 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Tyler Technologies were worth $496,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in TYL. Oak Thistle LLC raised its position in shares of Tyler Technologies by 213.7% in the 4th quarter. Oak Thistle LLC now owns 2,328 shares of the technology company’s stock worth $1,342,000 after buying an additional 1,586 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Tyler Technologies in the 3rd quarter worth $569,000. Trustmark National Bank Trust Department purchased a new position in shares of Tyler Technologies in the 3rd quarter worth $1,288,000. Diversified Trust Co purchased a new position in shares of Tyler Technologies in the 4th quarter worth $596,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Tyler Technologies by 10.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 10,369 shares of the technology company’s stock worth $6,053,000 after buying an additional 993 shares during the period. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Tyler Technologies Price Performance

TYL opened at $563.81 on Monday. The company has a fifty day simple moving average of $598.55 and a 200 day simple moving average of $598.48. The firm has a market cap of $24.25 billion, a price-to-earnings ratio of 93.04, a PEG ratio of 4.93 and a beta of 0.80. Tyler Technologies, Inc. has a twelve month low of $397.80 and a twelve month high of $661.31. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results 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%. Equities research analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,000 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the transaction, the insider now directly owns 6,983 shares in the company, valued at $4,322,477. This represents a 46.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the transaction, the chief executive officer now owns 75,734 shares in the company, valued at $46,772,561.06. This trade represents a 7.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,064 shares of company stock worth $8,688,030 in the last ninety days. 2.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on TYL shares. Barclays increased their target price on Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. StockNews.com lowered Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Monday, February 24th. DA Davidson reiterated a “neutral” rating and issued a $575.00 price target on shares of Tyler Technologies in a report on Thursday, January 30th. Piper Sandler raised their price objective on Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $615.00 target price (down previously from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $676.25.

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.