Edgestream Partners L.P. Takes $2.49 Million Position in Tyler Technologies, Inc. (NYSE:TYL)

Edgestream Partners L.P. acquired a new stake in Tyler Technologies, Inc. (NYSE:TYL) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,321 shares of the technology company’s stock, valued at approximately $2,492,000.

Other large investors have also made changes to their positions in the company. Oak Thistle LLC boosted its holdings in shares of Tyler Technologies by 213.7% in the 4th quarter. Oak Thistle LLC now owns 2,328 shares of the technology company’s stock valued at $1,342,000 after acquiring an additional 1,586 shares during the last quarter. Aigen Investment Management LP purchased a new stake in shares of Tyler Technologies in the 3rd quarter valued at $1,309,000. Maiden Cove Capital LLC purchased a new stake in shares of Tyler Technologies in the 3rd quarter valued at $583,000. Assetmark Inc. boosted its holdings in Tyler Technologies by 9.4% during the third quarter. Assetmark Inc. now owns 9,910 shares of the technology company’s stock worth $5,785,000 after buying an additional 854 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Tyler Technologies during the third quarter worth $569,000. 93.30% of the stock is owned by hedge funds and other institutional investors.

Tyler Technologies Price Performance

Shares of TYL opened at $589.02 on Monday. Tyler Technologies, Inc. has a 1-year low of $397.80 and a 1-year high of $661.31. The stock has a market cap of $25.34 billion, a PE ratio of 97.20, a P/E/G ratio of 4.93 and a beta of 0.80. The firm has a 50-day simple moving average of $599.93 and a two-hundred day simple moving average of $598.86. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21.

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

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 6,752 shares of Tyler Technologies stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $613.75, for a total transaction of $4,144,040.00. Following the completion of the sale, the chief financial officer now directly owns 11,918 shares in the company, valued at $7,314,672.50. This trade represents a 36.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of Tyler Technologies 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 sale, the chief executive officer now owns 75,734 shares of the company’s stock, valued at approximately $46,772,561.06. This represents a 7.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,816 shares of company stock worth $9,118,070 over the last three months. Insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

TYL has been the topic of a number of recent analyst reports. Barclays increased their price target on shares of Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Needham & Company LLC reissued a “buy” rating and set a $700.00 price target on shares of Tyler Technologies in a report on Tuesday, January 21st. Wells Fargo & Company reissued an “equal weight” rating and set a $615.00 price target (down from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. DA Davidson reissued a “neutral” rating and set a $575.00 price target on shares of Tyler Technologies in a report on Thursday, January 30th. Finally, Piper Sandler increased their price objective on shares of Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Tyler Technologies has an average rating of “Moderate Buy” and an average price target of $676.25.

Tyler Technologies Profile

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.