Fred Alger Management LLC Has $9.95 Million Stock Position in Tyler Technologies, Inc. (NYSE:TYL)

Fred Alger Management LLC increased its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 6.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,048 shares of the technology company’s stock after purchasing an additional 1,007 shares during the quarter. Fred Alger Management LLC’s holdings in Tyler Technologies were worth $9,951,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of TYL. Independence Bank of Kentucky acquired a new position in Tyler Technologies during the second quarter valued at approximately $25,000. Ashton Thomas Securities LLC bought a new stake in shares of Tyler Technologies in the third quarter worth $27,000. Blue Trust Inc. lifted its position in Tyler Technologies by 329.4% during the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after buying an additional 56 shares in the last quarter. Lynx Investment Advisory acquired a new position in Tyler Technologies during the second quarter valued at approximately $38,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Tyler Technologies in the 2nd quarter valued at approximately $61,000. Institutional investors own 93.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. The Goldman Sachs Group reiterated a “buy” rating and set a $627.00 target price on shares of Tyler Technologies in a research note on Friday, September 13th. DA Davidson boosted their price target on Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Robert W. Baird boosted their target price on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Needham & Company LLC boosted their price target on Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Piper Sandler raised their price target on shares of Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $642.62.

Tyler Technologies Trading Down 0.2 %

NYSE:TYL opened at $629.17 on Friday. Tyler Technologies, Inc. has a 52 week low of $397.80 and a 52 week high of $637.53. The firm has a 50-day moving average price of $599.13 and a two-hundred day moving average price of $555.27. 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 firm has a market cap of $26.93 billion, a price-to-earnings ratio of 114.81, a price-to-earnings-growth ratio of 5.71 and a beta of 0.77.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.09. The company had revenue of $543.34 million for the quarter, compared to analysts’ expectations of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. Tyler Technologies’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.66 EPS. On average, equities analysts expect that Tyler Technologies, Inc. will post 7.36 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Brian K. Miller sold 3,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $602.72, for a total transaction of $1,808,160.00. Following the sale, the chief financial officer now directly owns 11,950 shares in the company, valued at $7,202,504. This represents a 20.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider John S. Marr, Jr. sold 12,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the completion of the sale, the insider now directly owns 6,983 shares in the company, valued at approximately $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 have sold a total of 37,100 shares of company stock valued at $22,309,090 over the last quarter. Company 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.