Van ECK Associates Corp Buys 524,259 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Van ECK Associates Corp grew its stake in Tyler Technologies, Inc. (NYSE:TYL) by 1,991.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 550,580 shares of the technology company’s stock after purchasing an additional 524,259 shares during the period. Van ECK Associates Corp owned about 1.29% of Tyler Technologies worth $317,486,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC grew its stake in shares of Tyler Technologies by 49.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 149,562 shares of the technology company’s stock worth $85,953,000 after buying an additional 49,508 shares during the last quarter. Portfolio Design Labs LLC bought a new position in shares of Tyler Technologies in the 4th quarter valued at $315,000. Axecap Investments LLC boosted its holdings in shares of Tyler Technologies by 45.0% during the 4th quarter. Axecap Investments LLC now owns 4,825 shares of the technology company’s stock valued at $2,782,000 after acquiring an additional 1,497 shares in the last quarter. Empowered Funds LLC grew its position in Tyler Technologies by 54.6% during the 4th quarter. Empowered Funds LLC now owns 3,588 shares of the technology company’s stock worth $2,069,000 after acquiring an additional 1,267 shares during the last quarter. Finally, Apollon Wealth Management LLC acquired a new position in Tyler Technologies in the 4th quarter worth about $221,000. 93.30% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Brian K. Miller sold 2,500 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $632.01, for a total transaction of $1,580,025.00. Following the sale, the chief financial officer now owns 12,198 shares of the company’s stock, valued at approximately $7,709,257.98. This represents a 17.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 3,250 shares of Tyler Technologies stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $631.41, for a total value of $2,052,082.50. Following the transaction, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at $47,355,750. The trade was a 4.15 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,502 shares of company stock valued at $18,941,368. 2.20% of the stock is owned by insiders.

Tyler Technologies Stock Up 0.3 %

TYL opened at $611.01 on Thursday. Tyler Technologies, Inc. has a twelve month low of $397.80 and a twelve month high of $638.56. The company’s 50-day moving average price is $595.47 and its two-hundred day moving average price is $593.32. The stock has a market cap of $26.15 billion, a price-to-earnings ratio of 111.50, a PEG ratio of 4.78 and a beta of 0.78. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. As a group, equities analysts expect that Tyler Technologies, Inc. will post 7.36 earnings per share for the current year.

Wall Street Analyst Weigh In

TYL has been the topic of a number of recent research reports. Barclays lifted their price target on shares of Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. JMP Securities boosted 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. Piper Sandler increased their price objective on shares of Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Wells Fargo & Company reissued an “equal weight” rating and set a $615.00 target price (down previously from $670.00) on shares of Tyler Technologies in a research note on Tuesday, January 7th. Finally, Oppenheimer upped their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $645.69.

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.