Proficio Capital Partners LLC Makes New Investment in Tyler Technologies, Inc. (NYSE:TYL)

Proficio Capital Partners LLC acquired a new position in Tyler Technologies, Inc. (NYSE:TYL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 58,241 shares of the technology company’s stock, valued at approximately $33,584,000. Proficio Capital Partners LLC owned about 0.14% of Tyler Technologies at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in Tyler Technologies in the third quarter worth about $27,000. Sierra Ocean LLC bought a new stake in Tyler Technologies in the fourth quarter worth about $32,000. Quarry LP bought a new stake in Tyler Technologies in the third quarter worth about $78,000. MassMutual Private Wealth & Trust FSB lifted its stake 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 worth $78,000 after purchasing an additional 21 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of Tyler Technologies during the third quarter valued at approximately $79,000. Institutional investors own 93.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on TYL shares. StockNews.com downgraded shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Monday, February 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $700.00 price target on shares of Tyler Technologies in a research note on Tuesday, January 21st. The Goldman Sachs Group lifted their price target on shares of Tyler Technologies from $660.00 to $728.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Barclays lifted their price target on shares of Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $615.00 price target (down previously from $670.00) on shares of Tyler Technologies in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $676.25.

Tyler Technologies Price Performance

NYSE TYL opened at $607.66 on Friday. The firm’s fifty day simple moving average is $598.40 and its two-hundred day simple moving average is $597.41. 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, Inc. has a 12-month low of $397.80 and a 12-month high of $661.31. The firm has a market capitalization of $26.14 billion, a P/E ratio of 100.27, a P/E/G ratio of 4.93 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share (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%. Analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Brian K. Miller sold 2,500 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $632.01, for a total transaction of $1,580,025.00. Following the sale, the chief financial officer now directly owns 12,198 shares of the company’s stock, valued at $7,709,257.98. The trade was a 17.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 75,734 shares in the company, valued at $46,772,561.06. This trade represents a 7.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,766 shares of company stock valued at $13,548,346. 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.