Fmr LLC Buys 52,984 Shares of Tyler Technologies, Inc. (NYSE:TYL)

FMR LLC lifted its position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 94.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 109,319 shares of the technology company's stock after acquiring an additional 52,984 shares during the quarter. FMR LLC owned approximately 0.26% of Tyler Technologies worth $63,812,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in TYL. Independence Bank of Kentucky bought a new stake in shares of Tyler Technologies during the second quarter worth $25,000. Ashton Thomas Securities LLC bought a new stake in Tyler Technologies in the third quarter valued at about $27,000. Blue Trust Inc. increased its holdings in Tyler Technologies by 329.4% in the second quarter. Blue Trust Inc. now owns 73 shares of the technology company's stock valued at $37,000 after purchasing an additional 56 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Tyler Technologies in the second quarter valued at about $61,000. Finally, Tobam bought a new position in Tyler Technologies during the third quarter worth about $78,000. Institutional investors own 93.30% of the company's stock.

Analyst Ratings Changes

TYL has been the subject of several recent analyst reports. Robert W. Baird increased their price target on Tyler Technologies from $625.00 to $700.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. The Goldman Sachs Group reissued a "buy" rating and set a $627.00 target price on shares of Tyler Technologies in a research note on Friday, September 13th. JMP Securities lifted their price target on shares of Tyler Technologies from $580.00 to $700.00 and gave the company a "market outperform" rating in a research note on Friday, October 25th. DA Davidson raised their price objective on shares of Tyler Technologies from $525.00 to $550.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. Finally, Barclays upped their target price on shares of Tyler Technologies from $700.00 to $705.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $642.62.

Insider Transactions at Tyler Technologies

In related news, CEO H Lynn Moore, Jr. sold 5,000 shares of the business's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $576.62, for a total value of $2,883,100.00. Following the completion of the sale, the chief executive officer now directly owns 75,000 shares in the company, valued at $43,246,500. The trade was a 6.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Brian K. Miller sold 3,000 shares of the business's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $602.72, for a total value of $1,808,160.00. Following the completion of the sale, the chief financial officer now owns 11,950 shares of the company's stock, valued at $7,202,504. This trade represents a 20.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 45,500 shares of company stock worth $27,790,888. 2.20% of the stock is owned by company insiders.

Tyler Technologies Stock Down 1.2 %

Shares of NYSE:TYL traded down $7.58 during trading on Friday, hitting $623.15. 196,958 shares of the company were exchanged, compared to its average volume of 286,578. The stock has a market cap of $26.67 billion, a price-to-earnings ratio of 113.71, a P/E/G ratio of 5.76 and a beta of 0.76. Tyler Technologies, Inc. has a fifty-two week low of $397.80 and a fifty-two week high of $638.56. The firm has a fifty day moving average price of $604.80 and a two-hundred day moving average price of $561.11. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.09. The firm had revenue of $543.34 million for the quarter, compared to analyst estimates of $547.34 million. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The business's quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.66 EPS. As a group, research analysts anticipate that Tyler Technologies, Inc. will post 7.36 earnings per share for the current fiscal 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.