Brooklyn Investment Group Makes New Investment in Tyler Technologies, Inc. (NYSE:TYL)

Brooklyn Investment Group purchased a new position in shares of Tyler Technologies, Inc. (NYSE:TYL) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 136 shares of the technology company’s stock, valued at approximately $79,000.

Several other hedge funds have also recently bought and sold shares of the stock. Quantbot Technologies LP bought a new stake in Tyler Technologies during the third quarter worth $2,491,000. FMR LLC boosted its holdings in Tyler Technologies by 94.1% in the 3rd quarter. FMR LLC now owns 109,319 shares of the technology company’s stock valued at $63,812,000 after purchasing an additional 52,984 shares during the period. Dai ichi Life Insurance Company Ltd bought a new position in Tyler Technologies during the 3rd quarter worth $7,411,000. The Manufacturers Life Insurance Company grew its position in Tyler Technologies by 1.2% in the third quarter. The Manufacturers Life Insurance Company now owns 26,212 shares of the technology company’s stock valued at $15,300,000 after acquiring an additional 301 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in Tyler Technologies by 2.6% in the 3rd quarter. Bank of Montreal Can now owns 37,826 shares of the technology company’s stock valued at $21,845,000 after purchasing an additional 959 shares during the last quarter. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TYL has been the subject of a number of analyst reports. JMP Securities raised their price objective on 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 boosted their target price on Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Truist Financial restated a “buy” rating and set a $685.00 price target (up previously from $600.00) on shares of Tyler Technologies in a research report on Friday, October 25th. Robert W. Baird raised their target price on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Barclays upped their price target 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. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $642.62.

Tyler Technologies Trading Down 0.7 %

Shares of TYL opened at $630.44 on Friday. Tyler Technologies, Inc. has a 1-year low of $397.80 and a 1-year high of $637.53. The firm has a market capitalization of $26.98 billion, a price-to-earnings ratio of 115.04, a PEG ratio of 5.65 and a beta of 0.77. The company has a 50-day moving average of $598.13 and a 200 day moving average of $554.74. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The company had revenue of $543.34 million for the quarter, compared to analyst estimates of $547.34 million. During the same quarter in the previous year, the firm earned $1.66 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, research analysts expect that Tyler Technologies, Inc. will post 7.36 EPS for the current year.

Insider Transactions at Tyler Technologies

In related news, CFO Brian K. Miller sold 3,000 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $602.72, for a total transaction of $1,808,160.00. Following the transaction, the chief financial officer now owns 11,950 shares in the company, valued at approximately $7,202,504. This trade represents a 20.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $590.98, for a total transaction of $2,954,900.00. Following the sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at $44,323,500. This represents a 6.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,100 shares of company stock worth $22,309,090 over the last three months. 2.20% of the stock is currently owned by insiders.

Tyler Technologies Company Profile

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.