Next Century Growth Investors LLC Makes New Investment in Tyler Technologies, Inc. (NYSE:TYL)

Next Century Growth Investors LLC purchased a new position in shares of Tyler Technologies, Inc. (NYSE:TYL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,433 shares of the technology company’s stock, valued at approximately $1,980,000.

Several other hedge funds have also made changes to their positions in the business. Larson Financial Group LLC raised its stake in Tyler Technologies by 221.4% during the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock worth $26,000 after purchasing an additional 31 shares during the period. Sierra Ocean LLC acquired a new stake in shares of Tyler Technologies during the 4th quarter worth $32,000. Brown Brothers Harriman & Co. raised its position in shares of Tyler Technologies by 300.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock worth $32,000 after buying an additional 42 shares during the period. OFI Invest Asset Management acquired a new position in Tyler Technologies in the fourth quarter valued at $41,000. Finally, Smithfield Trust Co grew its position in Tyler Technologies by 55.6% during the fourth quarter. Smithfield Trust Co now owns 84 shares of the technology company’s stock valued at $48,000 after acquiring an additional 30 shares during the period. Institutional investors and hedge funds own 93.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. The Goldman Sachs Group raised their price objective on Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Needham & Company LLC restated a “buy” rating and issued a $700.00 price target on shares of Tyler Technologies in a report on Tuesday, January 21st. DA Davidson reiterated a “neutral” rating and set a $575.00 price objective on shares of Tyler Technologies in a research note on Thursday, January 30th. StockNews.com lowered shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Piper Sandler lifted their target price 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. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $676.25.

Insider Transactions at Tyler Technologies

In related news, CEO H Lynn Moore, Jr. sold 6,514 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 75,734 shares in the company, valued at $46,772,561.06. This trade represents a 7.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the sale, the insider now owns 6,983 shares in the company, valued at approximately $4,322,477. This represents a 46.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,064 shares of company stock worth $8,688,030. 2.20% of the stock is currently owned by insiders.

Tyler Technologies Stock Up 1.9 %

NYSE:TYL opened at $568.42 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. The company has a market capitalization of $24.50 billion, a price-to-earnings ratio of 93.80, a price-to-earnings-growth ratio of 4.93 and a beta of 0.84. Tyler Technologies, Inc. has a one year low of $397.80 and a one year high of $661.31. The stock has a 50-day simple moving average of $590.08 and a 200 day simple moving average of $595.48.

Tyler Technologies (NYSE:TYL) last issued its earnings results 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 return on equity of 10.15% and a net margin of 12.30%. Sell-side analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Tyler Technologies 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.