Wealthfront Advisers LLC Raises Position in Tyler Technologies, Inc. (NYSE:TYL)

Wealthfront Advisers LLC boosted its stake in Tyler Technologies, Inc. (NYSE:TYL) by 8,973.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 154,433 shares of the technology company’s stock after purchasing an additional 152,731 shares during the period. Wealthfront Advisers LLC owned approximately 0.36% of Tyler Technologies worth $89,052,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Inspire Advisors LLC lifted its holdings in shares of Tyler Technologies by 2.5% in the 4th quarter. Inspire Advisors LLC now owns 1,007 shares of the technology company’s stock valued at $580,000 after acquiring an additional 25 shares during the last quarter. Citizens Financial Group Inc. RI boosted its stake in shares of Tyler Technologies by 7.6% during the fourth quarter. Citizens Financial Group Inc. RI now owns 380 shares of the technology company’s stock valued at $219,000 after purchasing an additional 27 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Tyler Technologies by 8.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 5,712 shares of the technology company’s stock valued at $3,294,000 after acquiring an additional 430 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Tyler Technologies by 9.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,369 shares of the technology company’s stock valued at $20,395,000 after acquiring an additional 3,163 shares in the last quarter. Finally, AlphaQuest LLC acquired a new stake in Tyler Technologies in the fourth quarter valued at approximately $164,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Analyst Upgrades and Downgrades

TYL has been the topic of a number of recent analyst reports. Truist Financial reiterated a “buy” rating and set a $775.00 target price (up previously from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Needham & Company LLC restated a “buy” rating and set a $700.00 price target on shares of Tyler Technologies in a report on Tuesday, January 21st. Piper Sandler raised their price objective on shares of Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Wells Fargo & Company restated an “equal weight” rating and issued a $615.00 price target (down previously from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. Finally, StockNews.com cut Tyler Technologies from a “buy” rating to a “hold” rating in a report on Monday, February 24th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Tyler Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $676.25.

Tyler Technologies Stock Down 2.9 %

TYL opened at $571.00 on Tuesday. The firm’s 50-day simple moving average is $599.93 and its 200-day simple moving average is $598.86. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. Tyler Technologies, Inc. has a twelve month low of $397.80 and a twelve month high of $661.31. The firm has a market cap of $24.56 billion, a price-to-earnings ratio of 94.22, a PEG ratio of 4.93 and a beta of 0.80.

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

Insider Activity

In other news, CFO Brian K. Miller sold 1,550 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $613.58, for a total value of $951,049.00. Following the sale, the chief financial officer now directly owns 14,026 shares in the company, valued at $8,606,073.08. The trade was a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total value of $4,022,981.26. Following the completion of the sale, the chief executive officer now directly owns 75,734 shares in the company, valued at approximately $46,772,561.06. This represents a 7.92 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,816 shares of company stock valued at $12,832,070. 2.20% of the stock is currently owned by 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.