Trust Asset Management LLC Takes Position in Tyler Technologies, Inc. (NYSE:TYL)

Trust Asset Management LLC acquired a new stake in shares of Tyler Technologies, Inc. (NYSE:TYL) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 482 shares of the technology company’s stock, valued at approximately $202,000.

Several other large investors also recently added to or reduced their stakes in the business. First Trust Direct Indexing L.P. boosted its stake in Tyler Technologies by 2.7% during the third quarter. First Trust Direct Indexing L.P. now owns 1,095 shares of the technology company’s stock valued at $423,000 after buying an additional 29 shares during the period. Baron Wealth Management LLC lifted its stake in Tyler Technologies by 2.0% during the fourth quarter. Baron Wealth Management LLC now owns 1,463 shares of the technology company’s stock worth $612,000 after purchasing an additional 29 shares during the last quarter. Centered Wealth LLC dba Miller Equity Capital Advisors lifted its stake in Tyler Technologies by 0.8% during the fourth quarter. Centered Wealth LLC dba Miller Equity Capital Advisors now owns 3,920 shares of the technology company’s stock worth $1,639,000 after purchasing an additional 30 shares during the last quarter. Cavalier Investments LLC lifted its stake in Tyler Technologies by 2.7% during the third quarter. Cavalier Investments LLC now owns 1,352 shares of the technology company’s stock worth $522,000 after purchasing an additional 35 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its stake in Tyler Technologies by 0.6% during the third quarter. CIBC Asset Management Inc now owns 6,030 shares of the technology company’s stock worth $2,328,000 after purchasing an additional 35 shares during the last quarter. Institutional investors own 93.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TYL. DA Davidson lifted their price target on Tyler Technologies from $412.00 to $434.00 and gave the stock a “neutral” rating in a research note on Thursday, February 22nd. JPMorgan Chase & Co. lifted their price target on Tyler Technologies from $500.00 to $526.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. Piper Sandler reissued an “overweight” rating and issued a $520.00 target price on shares of Tyler Technologies in a research note on Wednesday. Needham & Company LLC reissued a “buy” rating and issued a $500.00 target price on shares of Tyler Technologies in a research note on Thursday. Finally, JMP Securities reissued a “market outperform” rating and issued a $490.00 target price on shares of Tyler Technologies in a research note on Friday, February 16th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $460.46.

Tyler Technologies Stock Up 9.4 %

Shares of TYL stock traded up $39.45 during midday trading on Thursday, reaching $458.45. 503,041 shares of the stock were exchanged, compared to its average volume of 210,935. Tyler Technologies, Inc. has a 1 year low of $361.16 and a 1 year high of $464.81. The company’s 50 day moving average is $422.28 and its two-hundred day moving average is $414.52. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. The firm has a market cap of $19.46 billion, a PE ratio of 117.85, a price-to-earnings-growth ratio of 4.12 and a beta of 0.81.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, February 14th. The technology company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.06. The company had revenue of $480.94 million for the quarter, compared to the consensus estimate of $483.34 million. Tyler Technologies had a return on equity of 8.85% and a net margin of 8.50%. On average, equities research analysts predict that Tyler Technologies, Inc. will post 6.77 EPS for the current year.

Insider Activity at Tyler Technologies

In related news, insider John S. Marr, Jr. sold 6,500 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $437.49, for a total value of $2,843,685.00. Following the transaction, the insider now directly owns 6,400 shares of the company’s stock, valued at approximately $2,799,936. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider John S. Marr, Jr. sold 6,500 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $437.49, for a total value of $2,843,685.00. Following the transaction, the insider now directly owns 6,400 shares of the company’s stock, valued at approximately $2,799,936. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $435.19, for a total value of $3,263,925.00. Following the completion of the transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at $32,639,250. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,608 shares of company stock valued at $21,974,819. 2.20% of the stock is owned by corporate insiders.

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.