First Trust Advisors LP Has $36.45 Million Position in Tyler Technologies, Inc. (NYSE:TYL)

First Trust Advisors LP grew its position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 31.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,218 shares of the technology company's stock after buying an additional 15,068 shares during the quarter. First Trust Advisors LP owned 0.15% of Tyler Technologies worth $36,454,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TYL. Norges Bank purchased a new position in Tyler Technologies during the fourth quarter worth $528,465,000. Van ECK Associates Corp boosted its stake 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 valued at $317,486,000 after acquiring an additional 524,259 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Tyler Technologies during the 4th quarter worth about $159,947,000. JPMorgan Chase & Co. boosted its stake in shares of Tyler Technologies by 148.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company's stock worth $269,369,000 after purchasing an additional 275,511 shares during the last quarter. Finally, Seilern Investment Management Ltd purchased a new stake in shares of Tyler Technologies during the fourth quarter worth about $105,549,000. Institutional investors and hedge funds own 93.30% of the company's stock.

Tyler Technologies Stock Down 0.6 %

Shares of NYSE:TYL traded down $3.21 during midday trading on Monday, reaching $521.43. The company had a trading volume of 483,936 shares, compared to its average volume of 256,597. 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 stock has a market capitalization of $22.48 billion, a P/E ratio of 86.04, a PEG ratio of 4.93 and a beta of 0.84. Tyler Technologies, Inc. has a one year low of $452.57 and a one year high of $661.31. The stock's fifty day moving average price is $577.35 and its 200-day moving average price is $593.99.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 earnings per share for the quarter, beating analysts' consensus estimates of $2.56 by $0.22. The business had revenue of $562.43 million during the quarter, compared to the consensus estimate of $556.45 million. Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. The company's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.20 EPS. Equities research analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on TYL shares. The Goldman Sachs Group lifted their target price on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. Barclays decreased their target price on Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating for the company in a research report on Friday. DA Davidson dropped their target price on Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating on the stock in a report on Friday. Piper Sandler decreased their price target on Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating for the company in a report on Friday. Finally, Needham & Company LLC reiterated a "buy" rating and set a $750.00 price objective on shares of Tyler Technologies in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $674.67.

Insider Transactions at Tyler Technologies

In related news, CEO H Lynn Moore, Jr. sold 6,514 shares of Tyler Technologies stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $617.59, for a total value of $4,022,981.26. Following the transaction, the chief executive officer now directly owns 75,734 shares in the company, valued at $46,772,561.06. The trade was a 7.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brian K. Miller sold 1,550 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $613.58, for a total value of $951,049.00. Following the sale, the chief financial officer now owns 14,026 shares in the company, valued at approximately $8,606,073.08. The trade was a 9.95 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 14,064 shares of company stock valued at $8,688,030. Company insiders own 1.10% of the company's stock.

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.