Picton Mahoney Asset Management Raises Stock Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Picton Mahoney Asset Management boosted its stake in Tyler Technologies, Inc. (NYSE:TYL) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,475 shares of the technology company’s stock after purchasing an additional 617 shares during the quarter. Picton Mahoney Asset Management owned about 0.07% of Tyler Technologies worth $11,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Tyler Technologies by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 4,913,419 shares of the technology company’s stock valued at $1,897,268,000 after purchasing an additional 29,578 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Tyler Technologies by 0.4% during the third quarter. Principal Financial Group Inc. now owns 1,268,954 shares of the technology company’s stock worth $489,994,000 after acquiring an additional 5,013 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Tyler Technologies by 21.1% in the 3rd quarter. Morgan Stanley now owns 1,015,713 shares of the technology company’s stock worth $392,208,000 after acquiring an additional 177,242 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Tyler Technologies by 13.1% in the 4th quarter. Van ECK Associates Corp now owns 868,016 shares of the technology company’s stock valued at $362,935,000 after purchasing an additional 100,788 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Tyler Technologies by 6.5% during the 3rd quarter. Invesco Ltd. now owns 860,928 shares of the technology company’s stock valued at $332,439,000 after purchasing an additional 52,798 shares during the last quarter. 93.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Tyler Technologies

In related news, CFO Brian K. Miller sold 2,671 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $465.03, for a total value of $1,242,095.13. Following the transaction, the chief financial officer now owns 13,536 shares of the company’s stock, valued at $6,294,646.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Brian K. Miller sold 2,671 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $465.03, for a total value of $1,242,095.13. Following the transaction, the chief financial officer now directly owns 13,536 shares of the company’s stock, valued at approximately $6,294,646.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John S. Marr, Jr. sold 6,500 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $437.49, for a total value of $2,843,685.00. Following the sale, the insider now directly owns 6,400 shares of the company’s stock, valued at approximately $2,799,936. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,279 shares of company stock valued at $25,511,064. 1.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TYL. JPMorgan Chase & Co. boosted their price objective on Tyler Technologies from $500.00 to $526.00 and gave the company an “overweight” rating in a research report on Thursday, February 15th. Piper Sandler reissued an “overweight” rating and set a $520.00 price target on shares of Tyler Technologies in a research report on Wednesday, April 24th. JMP Securities restated a “market outperform” rating and issued a $490.00 price objective on shares of Tyler Technologies in a research report on Friday, April 26th. Robert W. Baird increased their target price on shares of Tyler Technologies from $500.00 to $525.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Finally, Needham & Company LLC restated a “buy” rating and set a $500.00 price target on shares of Tyler Technologies in a report on Thursday, April 25th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $492.22.

Tyler Technologies Stock Up 1.1 %

Shares of TYL traded up $5.36 on Tuesday, hitting $481.38. 279,832 shares of the stock traded hands, compared to its average volume of 215,088. The company has a market capitalization of $20.44 billion, a PE ratio of 108.91, a P/E/G ratio of 4.38 and a beta of 0.76. Tyler Technologies, Inc. has a one year low of $361.16 and a one year high of $483.83. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.94 and a current ratio of 0.94. The business has a 50 day simple moving average of $427.32 and a 200 day simple moving average of $419.98.

Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, February 14th. The technology company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.06. The business had revenue of $480.94 million during the quarter, compared to analyst estimates of $483.34 million. Tyler Technologies had a return on equity of 9.35% and a net margin of 9.50%. As a group, equities analysts forecast that Tyler Technologies, Inc. will post 7.14 earnings per share 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.