BankPlus Trust Department Takes $170,000 Position in Tyler Technologies, Inc. (NYSE:TYL)

BankPlus Trust Department bought a new stake in shares of Tyler Technologies, Inc. (NYSE:TYL) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 295 shares of the technology company’s stock, valued at approximately $170,000.

Several other institutional investors have also made changes to their positions in TYL. Ashton Thomas Securities LLC acquired a new position in Tyler Technologies in the third quarter valued at about $27,000. Sierra Ocean LLC acquired a new position in Tyler Technologies in the fourth quarter valued at about $32,000. Quarry LP acquired a new position in Tyler Technologies in the third quarter valued at about $78,000. MassMutual Private Wealth & Trust FSB boosted its position in Tyler Technologies by 18.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the technology company’s stock valued at $78,000 after buying an additional 21 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in Tyler Technologies in the third quarter valued at about $79,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. The Goldman Sachs Group boosted their price target on shares of Tyler Technologies from $660.00 to $728.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 target price on shares of Tyler Technologies in a research note on Tuesday, January 21st. Barclays boosted their price target on shares of Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Piper Sandler boosted their price target on shares of Tyler Technologies from $701.00 to $747.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $575.00 target price on shares of Tyler Technologies in a research note on Thursday, January 30th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $676.25.

Tyler Technologies Stock Performance

Shares of TYL opened at $612.20 on Tuesday. Tyler Technologies, Inc. has a 12 month low of $397.80 and a 12 month high of $661.31. The firm has a fifty day simple moving average of $597.49 and a 200 day simple moving average of $596.93. The stock has a market capitalization of $26.33 billion, a price-to-earnings ratio of 101.02, a PEG ratio of 4.93 and a beta of 0.78. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, February 12th. The technology company reported $1.87 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. Research analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 2,500 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $632.01, for a total value of $1,580,025.00. Following the completion of the sale, the chief financial officer now owns 12,198 shares in the company, valued at $7,709,257.98. This trade represents a 17.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John S. Marr, Jr. sold 6,000 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $633.55, for a total transaction of $3,801,300.00. Following the completion of the sale, the insider now owns 6,983 shares of the company’s stock, valued at approximately $4,424,079.65. This represents a 46.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,502 shares of company stock worth $11,577,448 over the last quarter. 2.20% of the stock is currently owned by 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.