Point72 Hong Kong Ltd Invests $2.33 Million in Tyler Technologies, Inc. (NYSE:TYL)

Point72 Hong Kong Ltd acquired a new stake in Tyler Technologies, Inc. (NYSE:TYL) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,997 shares of the technology company’s stock, valued at approximately $2,333,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Independence Bank of Kentucky purchased a new position in shares of Tyler Technologies during the 2nd quarter worth $25,000. Ashton Thomas Securities LLC purchased a new position in Tyler Technologies during the third quarter worth about $27,000. Blue Trust Inc. increased its position in shares of Tyler Technologies by 329.4% during the second quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock valued at $37,000 after acquiring an additional 56 shares during the last quarter. Lynx Investment Advisory purchased a new stake in shares of Tyler Technologies in the 2nd quarter valued at approximately $38,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Tyler Technologies in the 2nd quarter worth approximately $61,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tyler Technologies

In other news, CFO Brian K. Miller sold 3,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $602.72, for a total value of $1,808,160.00. Following the completion of the sale, the chief financial officer now directly owns 11,950 shares of the company’s stock, valued at approximately $7,202,504. This represents a 20.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John S. Marr, Jr. sold 12,000 shares of Tyler Technologies stock in a transaction on Monday, November 25th. The shares were sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the completion of the transaction, the insider now directly owns 6,983 shares in the company, valued at $4,285,187.78. The trade was a 63.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,100 shares of company stock valued at $22,309,090 over the last ninety days. Insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. DA Davidson lifted their target price on shares of Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Needham & Company LLC boosted their price objective on Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Oppenheimer increased their target price on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Piper Sandler lifted their target price on Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, Truist Financial reissued a “buy” rating and set a $685.00 price target (up previously from $600.00) on shares of Tyler Technologies in a research report on Friday, October 25th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Tyler Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $642.62.

Tyler Technologies Trading Down 0.2 %

NYSE:TYL opened at $629.17 on Monday. Tyler Technologies, Inc. has a 1 year low of $397.80 and a 1 year high of $637.53. The stock has a market cap of $26.93 billion, a P/E ratio of 114.81, a P/E/G ratio of 5.70 and a beta of 0.77. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a 50-day simple moving average of $600.16 and a 200-day simple moving average of $557.28.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The firm had revenue of $543.34 million during the quarter, compared to the consensus estimate of $547.34 million. During the same period in the prior year, the company posted $1.66 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, analysts anticipate that Tyler Technologies, Inc. will post 7.36 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.