Azimuth Capital Investment Management LLC Increases Stock Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Azimuth Capital Investment Management LLC lifted its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 2.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 37,901 shares of the technology company’s stock after acquiring an additional 797 shares during the quarter. Tyler Technologies makes up about 0.8% of Azimuth Capital Investment Management LLC’s investment portfolio, making the stock its 28th biggest position. Azimuth Capital Investment Management LLC’s holdings in Tyler Technologies were worth $21,855,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Point72 Asset Management L.P. purchased a new position in shares of Tyler Technologies during the third quarter worth about $876,000. Quantinno Capital Management LP boosted its position in shares of Tyler Technologies by 40.8% in the 3rd quarter. Quantinno Capital Management LP now owns 1,378 shares of the technology company’s stock valued at $804,000 after purchasing an additional 399 shares during the period. Wellington Management Group LLP grew its stake in Tyler Technologies by 8.1% during the 3rd quarter. Wellington Management Group LLP now owns 150,475 shares of the technology company’s stock worth $87,835,000 after buying an additional 11,235 shares during the last quarter. Kovitz Investment Group Partners LLC increased its position in Tyler Technologies by 36.2% during the third quarter. Kovitz Investment Group Partners LLC now owns 2,410 shares of the technology company’s stock worth $1,407,000 after buying an additional 641 shares during the period. Finally, National Bank of Canada FI lifted its stake in Tyler Technologies by 86.4% in the third quarter. National Bank of Canada FI now owns 21,806 shares of the technology company’s stock valued at $12,729,000 after buying an additional 10,105 shares during the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Barclays lifted their target price on shares of Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 target price on shares of Tyler Technologies in a report on Tuesday, January 21st. DA Davidson reissued a “neutral” rating and set a $575.00 price target on shares of Tyler Technologies in a report on Thursday, January 30th. StockNews.com raised Tyler Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, April 3rd. Finally, Truist Financial reiterated a “buy” rating and issued a $775.00 target price (up from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tyler Technologies presently has an average rating of “Moderate Buy” and an average target price of $676.25.

Tyler Technologies Stock Performance

Shares of TYL opened at $520.65 on Wednesday. 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 52-week low of $397.80 and a 52-week high of $661.31. The company has a 50-day simple moving average of $593.17 and a 200-day simple moving average of $596.09. The company has a market capitalization of $22.44 billion, a PE ratio of 85.92, a P/E/G ratio of 4.93 and a beta of 0.84.

Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share (EPS) 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 predict that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Tyler Technologies

In related news, insider John S. Marr, Jr. sold 6,000 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $619.00, for a total value of $3,714,000.00. Following the sale, the insider now directly owns 6,983 shares in the company, valued at $4,322,477. The trade was a 46.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the firm’s stock in a transaction dated 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 of the company’s stock, 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. Over the last 90 days, insiders have sold 14,064 shares of company stock valued at $8,688,030. Insiders own 2.20% of the company’s stock.

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.