Edgestream Partners L.P. Makes New Investment in Tyler Technologies, Inc. (NYSE:TYL)

Edgestream Partners L.P. acquired a new stake in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,321 shares of the technology company's stock, valued at approximately $2,492,000.

A number of other hedge funds have also recently added to or reduced their stakes in TYL. Geode Capital Management LLC boosted its holdings in shares of Tyler Technologies by 2.2% during the third quarter. Geode Capital Management LLC now owns 1,108,908 shares of the technology company's stock valued at $645,585,000 after acquiring an additional 24,284 shares during the period. Franklin Resources Inc. raised its holdings in shares of Tyler Technologies by 2.0% during the third quarter. Franklin Resources Inc. now owns 912,746 shares of the technology company's stock valued at $547,354,000 after buying an additional 17,943 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Tyler Technologies by 4.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 904,175 shares of the technology company's stock valued at $527,785,000 after buying an additional 36,066 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Tyler Technologies by 1,991.8% during the fourth 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. Finally, JPMorgan Chase & Co. grew its holdings in Tyler Technologies by 148.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company's stock worth $269,369,000 after buying an additional 275,511 shares in the last quarter. Institutional investors and hedge funds own 93.30% of the company's stock.

Remove Ads

Tyler Technologies Stock Down 2.8 %

NYSE TYL traded down $15.84 during trading on Thursday, reaching $552.87. 309,782 shares of the company's stock were exchanged, compared to its average volume of 240,093. 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 fifty-two week low of $397.80 and a fifty-two week high of $661.31. The company's fifty day simple moving average is $599.39 and its 200-day simple moving average is $598.60. The firm has a market capitalization of $23.78 billion, a PE ratio of 91.23, a P/E/G ratio of 4.93 and a beta of 0.80.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 EPS 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%. Sell-side analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Analyst Ratings Changes

TYL has been the subject of several recent analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $700.00 price target on shares of Tyler Technologies in a research note on Tuesday, January 21st. DA Davidson reaffirmed a "neutral" rating and issued a $575.00 price objective on shares of Tyler Technologies in a report on Thursday, January 30th. The Goldman Sachs Group raised their target price 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. Wells Fargo & Company reissued an "equal weight" rating and set a $615.00 target price (down from $670.00) on shares of Tyler Technologies in a research note on Tuesday, January 7th. Finally, Truist Financial restated a "buy" rating and issued a $775.00 price target (up previously from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $676.25.

Insider Activity

In other news, CFO Brian K. Miller sold 6,752 shares of Tyler Technologies 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 completion of the sale, the chief financial officer now directly owns 11,918 shares in the company, valued at $7,314,672.50. The trade was a 36.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John S. Marr, Jr. sold 6,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was 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 owns 6,983 shares in the company, valued at $4,322,477. This represents a 46.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,816 shares of company stock worth $12,832,070 in the last ninety days. Corporate insiders own 2.20% of the company's stock.

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.