EverSource Wealth Advisors LLC Grows Position in Tyler Technologies, Inc. (NYSE:TYL)

EverSource Wealth Advisors LLC boosted its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 1,666.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 477 shares of the technology company’s stock after purchasing an additional 450 shares during the period. EverSource Wealth Advisors LLC’s holdings in Tyler Technologies were worth $275,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Van ECK Associates Corp increased its stake 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 worth $317,486,000 after acquiring an additional 524,259 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Tyler Technologies in the fourth quarter worth $159,947,000. JPMorgan Chase & Co. raised its stake in shares of Tyler Technologies by 148.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock valued at $269,369,000 after acquiring an additional 275,511 shares during the period. Seilern Investment Management Ltd acquired a new position in shares of Tyler Technologies during the 4th quarter valued at $105,549,000. Finally, Wealthfront Advisers LLC boosted its position in Tyler Technologies by 8,973.6% during the 4th quarter. Wealthfront Advisers LLC now owns 154,433 shares of the technology company’s stock worth $89,052,000 after purchasing an additional 152,731 shares during the period. Institutional investors and hedge funds own 93.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on TYL shares. The Goldman Sachs Group boosted their price objective on Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Piper Sandler upped their price target on Tyler Technologies from $701.00 to $747.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Truist Financial reiterated a “buy” rating and set a $775.00 price objective (up previously from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. StockNews.com downgraded shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Monday, February 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $700.00 price target on shares of Tyler Technologies in a research note on Tuesday, January 21st. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $676.25.

Tyler Technologies Price Performance

Shares of NYSE:TYL opened at $563.81 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. The firm has a 50-day simple moving average of $598.55 and a 200 day simple moving average of $598.36. Tyler Technologies, Inc. has a fifty-two week low of $397.80 and a fifty-two week high of $661.31. The company has a market cap of $24.25 billion, a PE ratio of 93.04, a P/E/G ratio of 4.93 and a beta of 0.80.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. On average, sell-side analysts anticipate that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Insiders Place Their Bets

In other news, insider John S. Marr, Jr. sold 6,000 shares of the business’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 completion of the transaction, the insider now directly owns 6,983 shares in the company, valued at approximately $4,322,477. The trade was a 46.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Brian K. Miller sold 1,550 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $613.58, for a total value of $951,049.00. Following the completion of the sale, the chief financial officer now owns 14,026 shares in the company, valued at approximately $8,606,073.08. This represents a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,064 shares of company stock worth $8,688,030. Insiders own 2.20% of the company’s stock.

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.