Cynosure Group LLC Increases Position in Tyler Technologies, Inc. (NYSE:TYL)

Cynosure Group LLC raised its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 19.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 581 shares of the technology company’s stock after purchasing an additional 95 shares during the quarter. Cynosure Group LLC’s holdings in Tyler Technologies were worth $338,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. HighPoint Advisor Group LLC raised its stake in shares of Tyler Technologies by 10.9% during the first quarter. HighPoint Advisor Group LLC now owns 711 shares of the technology company’s stock valued at $380,000 after acquiring an additional 70 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Tyler Technologies by 12.6% during the first quarter. Exchange Traded Concepts LLC now owns 501 shares of the technology company’s stock valued at $291,000 after acquiring an additional 56 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of Tyler Technologies by 20.7% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 42,500 shares of the technology company’s stock valued at $24,507,000 after acquiring an additional 7,300 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Tyler Technologies by 0.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,133 shares of the technology company’s stock valued at $2,984,000 after acquiring an additional 31 shares in the last quarter. Finally, CX Institutional bought a new stake in shares of Tyler Technologies during the first quarter valued at approximately $176,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on TYL shares. Wall Street Zen downgraded shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. Piper Sandler decreased their price target on shares of Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. Cantor Fitzgerald started coverage on shares of Tyler Technologies in a research note on Tuesday, June 3rd. They set a “neutral” rating and a $600.00 price target for the company. Robert W. Baird decreased their price target on shares of Tyler Technologies from $785.00 to $700.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $750.00 price objective on shares of Tyler Technologies in a research note on Tuesday, May 13th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $688.27.

Tyler Technologies Trading Down 1.0%

Shares of TYL stock opened at $593.99 on Monday. The business’s fifty day simple moving average is $576.89 and its 200-day simple moving average is $579.26. The company has a market cap of $25.70 billion, a PE ratio of 84.86, a PEG ratio of 4.56 and a beta of 0.85. Tyler Technologies, Inc. has a 12-month low of $513.52 and a 12-month high of $661.31.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, July 30th. The technology company reported $2.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.78 by $0.13. The business had revenue of $584.01 million for the quarter, compared to the consensus estimate of $587.59 million. Tyler Technologies had a return on equity of 10.34% and a net margin of 13.66%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.40 earnings per share. On average, equities analysts forecast that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Insider Buying and Selling at Tyler Technologies

In other news, CFO Brian K. Miller sold 3,333 shares of the business’s stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $568.46, for a total transaction of $1,894,677.18. Following the sale, the chief financial officer directly owned 11,231 shares of the company’s stock, valued at $6,384,374.26. The trade was a 22.89% 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, Director Brenda A. Cline sold 2,500 shares of the business’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $577.41, for a total transaction of $1,443,525.00. Following the sale, the director directly owned 2,519 shares in the company, valued at $1,454,495.79. This trade represents a 49.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,352 shares of company stock valued at $14,655,376. Corporate insiders own 1.10% of the company’s stock.

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.