Verdence Capital Advisors LLC Has $284,000 Position in Tyler Technologies, Inc. (NYSE:TYL)

Verdence Capital Advisors LLC lifted its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 5.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 492 shares of the technology company’s stock after buying an additional 25 shares during the period. Verdence Capital Advisors LLC’s holdings in Tyler Technologies were worth $284,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new stake in Tyler Technologies in the fourth quarter worth approximately $33,584,000. Atria Investments Inc grew its position in shares of Tyler Technologies by 22.0% during the 4th quarter. Atria Investments Inc now owns 4,295 shares of the technology company’s stock worth $2,477,000 after buying an additional 775 shares during the period. Assetmark Inc. increased its stake in shares of Tyler Technologies by 6.3% in the 4th quarter. Assetmark Inc. now owns 10,536 shares of the technology company’s stock valued at $6,075,000 after acquiring an additional 626 shares in the last quarter. Smithfield Trust Co lifted its position in shares of Tyler Technologies by 55.6% during the 4th quarter. Smithfield Trust Co now owns 84 shares of the technology company’s stock valued at $48,000 after acquiring an additional 30 shares during the period. Finally, Cookson Peirce & Co. Inc. acquired a new position in shares of Tyler Technologies during the 4th quarter valued at $10,367,000. 93.30% of the stock is owned by institutional investors and hedge funds.

Tyler Technologies Stock Performance

Shares of TYL stock opened at $589.02 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21. The firm has a 50-day moving average of $599.89 and a 200-day moving average of $598.52. Tyler Technologies, Inc. has a one year low of $397.80 and a one year high of $661.31. The company has a market cap of $25.34 billion, a P/E ratio of 97.20, a P/E/G ratio of 4.93 and a beta of 0.80.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data 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 net margin of 12.30% and a return on equity of 10.15%. Equities research analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Insider Activity at Tyler Technologies

In related news, CEO H Lynn Moore, Jr. sold 6,514 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the completion of the transaction, the chief executive officer now owns 75,734 shares in the company, valued at approximately $46,772,561.06. This represents a 7.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brian K. Miller sold 6,752 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $613.75, for a total transaction of $4,144,040.00. Following the sale, the chief financial officer now owns 11,918 shares of the company’s stock, valued at $7,314,672.50. This trade represents a 36.16 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,816 shares of company stock valued at $9,118,070. 2.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on TYL shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 price target on shares of Tyler Technologies in a research note on Tuesday, January 21st. Barclays boosted their target price on Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Truist Financial reaffirmed a “buy” rating and set a $775.00 price target (up from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. Wells Fargo & Company reissued an “equal weight” rating and issued a $615.00 price objective (down previously from $670.00) on shares of Tyler Technologies in a research note on Tuesday, January 7th. Finally, The Goldman Sachs Group upped their target price on Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $676.25.

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.