New York Life Investment Management LLC Raises Stock Position in Tyler Technologies, Inc. $TYL

New York Life Investment Management LLC lifted its position in Tyler Technologies, Inc. (NYSE:TYL) by 2.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,847 shares of the technology company’s stock after buying an additional 140 shares during the period. New York Life Investment Management LLC’s holdings in Tyler Technologies were worth $3,466,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. HighPoint Advisor Group LLC grew its position in Tyler Technologies by 10.9% during the 1st quarter. HighPoint Advisor Group LLC now owns 711 shares of the technology company’s stock worth $380,000 after purchasing an additional 70 shares during the last quarter. Lazard Freres Gestion S.A.S. purchased a new stake in Tyler Technologies during the 2nd quarter worth approximately $1,185,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Tyler Technologies by 61.2% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,747 shares of the technology company’s stock worth $5,778,000 after purchasing an additional 3,699 shares during the last quarter. Callan Family Office LLC purchased a new stake in Tyler Technologies during the 2nd quarter worth approximately $682,000. Finally, William Blair Investment Management LLC grew its position in Tyler Technologies by 16.2% during the 2nd quarter. William Blair Investment Management LLC now owns 358,474 shares of the technology company’s stock worth $212,518,000 after purchasing an additional 49,915 shares during the last quarter. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Tyler Technologies Price Performance

TYL stock opened at $477.90 on Friday. The firm’s fifty day simple moving average is $526.78 and its 200-day simple moving average is $555.37. Tyler Technologies, Inc. has a 12 month low of $450.00 and a 12 month high of $661.31. The company has a market capitalization of $20.67 billion, a P/E ratio of 66.47, a price-to-earnings-growth ratio of 3.67 and a beta of 0.89.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, July 30th. The technology company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.13. Tyler Technologies had a net margin of 13.72% and a return on equity of 10.64%. The firm had revenue of $584.01 million during the quarter, compared to analysts’ expectations of $587.59 million. During the same period in the previous year, the business posted $2.40 EPS. The business’s revenue was up 10.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Insider Activity at Tyler Technologies

In related news, Director Glenn A. Carter sold 750 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $538.30, for a total value of $403,725.00. Following the completion of the transaction, the director directly owned 3,172 shares in the company, valued at $1,707,487.60. The trade was a 19.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John S. Marr, Jr. sold 4,250 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $555.53, for a total value of $2,361,002.50. Following the completion of the sale, the insider directly owned 6,983 shares in the company, valued at approximately $3,879,265.99. The trade was a 37.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 14,250 shares of company stock worth $8,099,000 in the last three months. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

TYL has been the subject of several research analyst reports. UBS Group restated an “overweight” rating on shares of Tyler Technologies in a research note on Wednesday, October 8th. Weiss Ratings restated a “hold (c)” rating on shares of Tyler Technologies in a research note on Tuesday, October 14th. Oppenheimer reaffirmed an “outperform” rating and issued a $600.00 price objective on shares of Tyler Technologies in a report on Thursday. DA Davidson dropped their price objective on shares of Tyler Technologies from $585.00 to $560.00 and set a “neutral” rating on the stock in a report on Friday, October 10th. Finally, Barclays upped their price objective on shares of Tyler Technologies from $695.00 to $715.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $674.60.

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.