Parallel Advisors LLC Increases Position in Tyler Technologies, Inc. (NYSE:TYL)

Parallel Advisors LLC lifted its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 4.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 578 shares of the technology company’s stock after buying an additional 25 shares during the quarter. Parallel Advisors LLC’s holdings in Tyler Technologies were worth $333,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC grew its position in Tyler Technologies by 221.4% in the 4th quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock valued at $26,000 after acquiring an additional 31 shares during the last quarter. Sierra Ocean LLC bought a new position in shares of Tyler Technologies in the fourth quarter worth about $32,000. OFI Invest Asset Management bought a new position in shares of Tyler Technologies in the fourth quarter worth about $41,000. Smithfield Trust Co lifted its holdings in Tyler Technologies by 55.6% during the 4th quarter. Smithfield Trust Co now owns 84 shares of the technology company’s stock valued at $48,000 after buying an additional 30 shares in the last quarter. Finally, Private Trust Co. NA boosted its position in Tyler Technologies by 51.8% in the 4th quarter. Private Trust Co. NA now owns 85 shares of the technology company’s stock valued at $49,000 after buying an additional 29 shares during the period. 93.30% of the stock is owned by institutional investors.

Tyler Technologies Price Performance

Shares of TYL opened at $566.56 on Friday. The company has a 50 day moving average of $598.88 and a two-hundred day moving average of $597.81. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. Tyler Technologies, Inc. has a twelve month low of $397.80 and a twelve month high of $661.31. The company has a market cap of $24.42 billion, a price-to-earnings ratio of 93.49, a price-to-earnings-growth ratio of 4.93 and a beta of 0.80.

Tyler Technologies (NYSE:TYL) last announced its earnings results 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%. As a group, analysts predict that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TYL has been the subject of several research analyst reports. The Goldman Sachs Group lifted their price target on shares of Tyler Technologies from $660.00 to $728.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $615.00 target price (down from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. Truist Financial reissued a “buy” rating and set a $775.00 price target (up previously from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. DA Davidson restated a “neutral” rating and issued a $575.00 price objective on shares of Tyler Technologies in a report on Thursday, January 30th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $700.00 target price on shares of Tyler Technologies in a report on Tuesday, January 21st. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $676.25.

Insider Activity at Tyler Technologies

In other news, CFO Brian K. Miller sold 1,550 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $613.58, for a total transaction of $951,049.00. Following the sale, the chief financial officer now directly owns 14,026 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $617.59, for a total value of $4,022,981.26. Following the completion of the transaction, the chief executive officer now owns 75,734 shares of the company’s stock, valued at $46,772,561.06. This trade represents a 7.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,064 shares of company stock valued at $8,688,030 in the last three months. 2.20% of the stock is 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.