Maiden Cove Capital LLC Takes Position in Tyler Technologies, Inc. (NYSE:TYL)

Maiden Cove Capital LLC purchased a new stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 998 shares of the technology company's stock, valued at approximately $583,000. Tyler Technologies makes up about 1.2% of Maiden Cove Capital LLC's holdings, making the stock its 24th biggest position.

Other institutional investors have also recently bought and sold shares of the company. Independence Bank of Kentucky bought a new position in Tyler Technologies in the second quarter valued at approximately $25,000. Covestor Ltd lifted its stake in Tyler Technologies by 153.6% in the first quarter. Covestor Ltd now owns 71 shares of the technology company's stock valued at $30,000 after buying an additional 43 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Tyler Technologies by 329.4% in the second quarter. Blue Trust Inc. now owns 73 shares of the technology company's stock worth $37,000 after purchasing an additional 56 shares in the last quarter. Lynx Investment Advisory bought a new stake in shares of Tyler Technologies in the second quarter worth $38,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Tyler Technologies in the second quarter worth $61,000. Institutional investors own 93.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Needham & Company LLC boosted their price objective on shares of Tyler Technologies from $600.00 to $700.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Truist Financial reissued a "buy" rating and issued a $685.00 price objective (up previously from $600.00) on shares of Tyler Technologies in a research report on Friday, October 25th. Robert W. Baird boosted their price objective on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. Evercore ISI raised shares of Tyler Technologies to a "hold" rating in a research report on Friday, July 26th. Finally, Oppenheimer boosted their target price on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Tyler Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $642.62.

Tyler Technologies Stock Performance

Shares of TYL traded up $7.87 during trading hours on Friday, hitting $623.22. The company had a trading volume of 307,195 shares, compared to its average volume of 251,486. The firm has a market cap of $26.67 billion, a price-to-earnings ratio of 113.73, a PEG ratio of 5.62 and a beta of 0.77. The business has a fifty day moving average of $590.93 and a 200-day moving average of $542.35. Tyler Technologies, Inc. has a 12 month low of $397.80 and a 12 month high of $631.43. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.09. The company had revenue of $543.34 million for the quarter, compared to analyst estimates of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The company's revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.66 earnings per share. Equities analysts anticipate that Tyler Technologies, Inc. will post 7.39 EPS for the current fiscal year.

Insider Activity

In other news, CEO H Lynn Moore, Jr. sold 5,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $590.98, for a total value of $2,954,900.00. Following the transaction, the chief executive officer now directly owns 75,000 shares of the company's stock, valued at $44,323,500. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO H Lynn Moore, Jr. sold 5,000 shares of the firm's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $590.98, for a total transaction of $2,954,900.00. Following the transaction, the chief executive officer now directly owns 75,000 shares of the company's stock, valued at approximately $44,323,500. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian K. Miller sold 2,500 shares of the firm's stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $586.97, for a total transaction of $1,467,425.00. Following the transaction, the chief financial officer now directly owns 11,950 shares in the company, valued at approximately $7,014,291.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,100 shares of company stock valued at $17,746,270 over the last ninety days. 2.20% of the stock is currently owned by company insiders.

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.