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

Bryce Point Capital LLC acquired a new position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 855 shares of the technology company's stock, valued at approximately $493,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Tyler Technologies during the fourth quarter worth about $528,465,000. Van ECK Associates Corp raised its holdings in Tyler Technologies by 1,991.8% during the 4th quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company's stock worth $317,486,000 after buying an additional 524,259 shares during the period. Raymond James Financial Inc. bought a new position in Tyler Technologies in the fourth quarter valued at approximately $159,947,000. JPMorgan Chase & Co. boosted its holdings in shares of Tyler Technologies by 148.2% in the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company's stock valued at $269,369,000 after buying an additional 275,511 shares during the period. Finally, Seilern Investment Management Ltd bought a new stake in shares of Tyler Technologies during the fourth quarter worth $105,549,000. 93.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,000 shares of the company's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $619.00, for a total value of $3,714,000.00. Following the completion of the transaction, the insider now directly owns 6,983 shares in the company, valued at approximately $4,322,477. This represents a 46.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian K. Miller sold 1,550 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $613.58, for a total transaction of $951,049.00. Following the transaction, the chief financial officer now owns 14,026 shares in the company, valued at $8,606,073.08. This represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,064 shares of company stock valued at $8,688,030 over the last ninety days. 2.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on TYL shares. The Goldman Sachs Group upped their price objective on Tyler Technologies from $660.00 to $728.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Truist Financial reiterated a "buy" rating and issued a $775.00 price objective (up from $685.00) on shares of Tyler Technologies in a report 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 report on Tuesday, January 7th. StockNews.com raised shares of Tyler Technologies from a "hold" rating to a "buy" rating in a research report on Thursday, April 3rd. Finally, Needham & Company LLC reissued a "buy" rating and set a $700.00 price target on shares of Tyler Technologies in a research report on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $676.25.

Tyler Technologies Price Performance

TYL traded up $44.18 on Wednesday, reaching $565.86. The company had a trading volume of 492,930 shares, compared to its average volume of 253,152. Tyler Technologies, Inc. has a 52-week low of $397.80 and a 52-week high of $661.31. The company has a market cap of $24.39 billion, a price-to-earnings ratio of 93.38, a P/E/G ratio of 4.93 and a beta of 0.84. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. The business has a 50 day simple moving average of $591.80 and a 200 day simple moving average of $595.75.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its quarterly earnings data 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, sell-side analysts anticipate that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Tyler Technologies Company 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.