USA Financial Formulas Grows Holdings in Tyler Technologies, Inc. (NYSE:TYL)

USA Financial Formulas increased its stake in Tyler Technologies, Inc. (NYSE:TYL) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,862 shares of the technology company’s stock after buying an additional 63 shares during the period. USA Financial Formulas’ holdings in Tyler Technologies were worth $1,074,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its position in shares of Tyler Technologies by 252,047.5% in the 3rd quarter. International Assets Investment Management LLC now owns 307,620 shares of the technology company’s stock worth $179,564,000 after purchasing an additional 307,498 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Tyler Technologies by 148.2% in the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock worth $269,369,000 after purchasing an additional 275,511 shares in the last quarter. FMR LLC grew its stake in Tyler Technologies by 94.1% in the third quarter. FMR LLC now owns 109,319 shares of the technology company’s stock worth $63,812,000 after purchasing an additional 52,984 shares in the last quarter. Westwind Capital increased its holdings in Tyler Technologies by 7,614.0% in the third quarter. Westwind Capital now owns 46,361 shares of the technology company’s stock valued at $27,062,000 after buying an additional 45,760 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Tyler Technologies by 120.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 81,487 shares of the technology company’s stock valued at $46,989,000 after buying an additional 44,584 shares in the last quarter. 93.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. DA Davidson lifted their target price on Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. StockNews.com downgraded shares of Tyler Technologies from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Piper Sandler boosted their price objective on shares of Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Truist Financial restated a “buy” rating and issued a $685.00 target price (up from $600.00) on shares of Tyler Technologies in a research note on Friday, October 25th. Finally, Oppenheimer boosted their price objective on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Tyler Technologies currently has an average rating of “Moderate Buy” and an average target price of $643.77.

Insider Activity

In related 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 transaction, the chief financial officer now owns 11,950 shares in the company, valued at approximately $7,202,504. This represents a 20.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John S. Marr, Jr. sold 12,000 shares of Tyler Technologies stock in a transaction that occurred 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 sale, the insider now owns 6,983 shares of the company’s stock, valued at $4,285,187.78. This trade represents a 63.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,252 shares of company stock worth $26,096,928 in the last 90 days. Company insiders own 1.50% of the company’s stock.

Tyler Technologies Price Performance

Shares of NYSE TYL opened at $571.76 on Thursday. The firm has a 50-day moving average of $602.48 and a two-hundred day moving average of $582.64. The company has a market capitalization of $24.47 billion, a price-to-earnings ratio of 104.34, a PEG ratio of 4.35 and a beta of 0.78. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies, Inc. has a twelve month low of $397.80 and a twelve month high of $638.56.

Tyler Technologies (NYSE:TYL) last released its 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 company had revenue of $543.34 million during the quarter, compared to analyst estimates of $547.34 million. During the same quarter in the prior year, the company earned $1.66 earnings per share. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, analysts expect that Tyler Technologies, Inc. will post 7.36 earnings per share for the current fiscal year.

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.