MGO One Seven LLC Takes Position in Tyler Technologies, Inc. (NYSE:TYL)

MGO One Seven LLC bought a new position in shares of Tyler Technologies, Inc. (NYSE:TYL) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 387 shares of the technology company’s stock, valued at approximately $223,000.

A number of other hedge funds have also added to or reduced their stakes in TYL. Norges Bank acquired a new position in shares of Tyler Technologies during the 4th quarter worth about $528,465,000. Van ECK Associates Corp boosted its position in Tyler Technologies by 1,991.8% during the fourth quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock valued at $317,486,000 after purchasing an additional 524,259 shares during the last quarter. Raymond James Financial Inc. bought a new position in Tyler Technologies in the fourth quarter valued at approximately $159,947,000. JPMorgan Chase & Co. increased its position in shares of Tyler Technologies by 148.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock worth $269,369,000 after purchasing an additional 275,511 shares during the last quarter. Finally, Seilern Investment Management Ltd bought a new stake in shares of Tyler Technologies during the 4th quarter worth approximately $105,549,000. Institutional investors own 93.30% of the company’s stock.

Tyler Technologies Stock Up 2.5 %

TYL stock opened at $534.53 on Wednesday. The business’s fifty day moving average price is $573.02 and its two-hundred day moving average price is $593.07. The stock has a market capitalization of $23.04 billion, a price-to-earnings ratio of 88.21, a PEG ratio of 4.93 and a beta of 0.84. Tyler Technologies, Inc. has a fifty-two week low of $452.57 and a fifty-two week high of $661.31. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.56 by $0.22. The business had revenue of $562.43 million for the quarter, compared to analyst estimates of $556.45 million. Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. Tyler Technologies’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the firm earned $2.20 earnings per share. On average, equities analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Insider Activity

In other Tyler Technologies news, 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 value of $4,022,981.26. Following the transaction, the chief executive officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John S. Marr, Jr. sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the sale, the insider now directly owns 6,983 shares of the company’s stock, valued at approximately $4,322,477. This trade represents a 46.21 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,064 shares of company stock worth $8,688,030. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

TYL has been the subject of several analyst reports. StockNews.com raised shares of Tyler Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, April 24th. Wells Fargo & Company lowered their price objective on shares of Tyler Technologies from $640.00 to $610.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Barclays cut their target price on shares of Tyler Technologies from $700.00 to $695.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. Robert W. Baird lowered their price target on Tyler Technologies from $785.00 to $700.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $775.00 price objective (up from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Tyler Technologies currently has an average rating of “Moderate Buy” and an average target price of $674.67.

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.