Tyler Technologies, Inc. (NYSE:TYL) Position Boosted by Axecap Investments LLC

Axecap Investments LLC increased its position in Tyler Technologies, Inc. (NYSE:TYL) by 17.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 5,677 shares of the technology company’s stock after purchasing an additional 852 shares during the period. Tyler Technologies comprises 2.8% of Axecap Investments LLC’s investment portfolio, making the stock its 10th largest position. Axecap Investments LLC’s holdings in Tyler Technologies were worth $3,301,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TYL. Curbstone Financial Management Corp lifted its holdings in shares of Tyler Technologies by 2.2% during the first quarter. Curbstone Financial Management Corp now owns 1,104 shares of the technology company’s stock valued at $642,000 after purchasing an additional 24 shares in the last quarter. CX Institutional bought a new position in Tyler Technologies in the first quarter valued at about $176,000. Assenagon Asset Management S.A. raised its stake in shares of Tyler Technologies by 2.1% in the first quarter. Assenagon Asset Management S.A. now owns 83,159 shares of the technology company’s stock worth $48,348,000 after buying an additional 1,672 shares during the period. MV Capital Management Inc. raised its stake in shares of Tyler Technologies by 42.9% in the first quarter. MV Capital Management Inc. now owns 80 shares of the technology company’s stock worth $47,000 after buying an additional 24 shares during the period. Finally, Atwood & Palmer Inc. raised its stake in shares of Tyler Technologies by 259.6% in the first quarter. Atwood & Palmer Inc. now owns 374 shares of the technology company’s stock worth $217,000 after buying an additional 270 shares during the period. 93.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Tyler Technologies news, CFO Brian K. Miller sold 1,033 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $557.45, for a total transaction of $575,845.85. Following the transaction, the chief financial officer now owns 13,028 shares in the company, valued at approximately $7,262,458.60. This represents a 7.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John S. Marr, Jr. sold 5,000 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $558.86, for a total value of $2,794,300.00. Following the transaction, the insider now owns 6,983 shares in the company, valued at $3,902,519.38. This represents a 41.73% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,806 shares of company stock valued at $10,092,030. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TYL. DA Davidson cut their target price on Tyler Technologies from $595.00 to $570.00 and set a “neutral” rating for the company in a research report on Friday, April 25th. Wall Street Zen cut Tyler Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. Wells Fargo & Company cut their target price on Tyler Technologies from $640.00 to $610.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Piper Sandler cut their target price on Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating on the stock in a research report on Friday, April 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $750.00 price objective on shares of Tyler Technologies in a research report on Tuesday, May 13th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $680.50.

Tyler Technologies Price Performance

Shares of TYL stock opened at $583.69 on Thursday. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $25.17 billion, a price-to-earnings ratio of 96.32, a P/E/G ratio of 4.93 and a beta of 0.84. Tyler Technologies, Inc. has a twelve month low of $458.50 and a twelve month high of $661.31. The stock has a fifty day simple moving average of $561.95 and a two-hundred day simple moving average of $585.54.

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

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.