Point72 Asia Singapore Pte. Ltd. Acquires New Position in Tyler Technologies, Inc. (NYSE:TYL)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,125 shares of the technology company's stock, valued at approximately $1,824,000.

A number of other large investors have also added to or reduced their stakes in the stock. Independence Bank of Kentucky bought a new position in shares of Tyler Technologies in the second quarter worth $25,000. Ashton Thomas Securities LLC bought a new stake in shares of Tyler Technologies during the 3rd quarter worth approximately $27,000. Blue Trust Inc. boosted its position in shares of Tyler Technologies by 329.4% during the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company's stock worth $37,000 after acquiring an additional 56 shares in the last quarter. Lynx Investment Advisory bought a new position in Tyler Technologies in the second quarter valued at approximately $38,000. Finally, International Assets Investment Management LLC acquired a new position in Tyler Technologies during the second quarter valued at approximately $61,000. Institutional investors and hedge funds own 93.30% of the company's stock.

Insider Activity at Tyler Technologies

In other news, CEO H Lynn Moore, Jr. sold 5,000 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $590.98, for a total transaction of $2,954,900.00. Following the completion of the transaction, the chief executive officer now owns 75,000 shares in the company, valued at approximately $44,323,500. This represents a 6.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John S. Marr, Jr. sold 12,000 shares of the business's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $613.66, for a total value of $7,363,920.00. Following the completion of the sale, the insider now owns 6,983 shares in the company, valued at $4,285,187.78. This represents a 63.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,100 shares of company stock worth $22,309,090. 2.20% of the stock is owned by company insiders.

Tyler Technologies Stock Down 1.2 %

Shares of Tyler Technologies stock traded down $7.49 during trading hours on Monday, reaching $621.68. The company's stock had a trading volume of 98,041 shares, compared to its average volume of 234,172. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21. The stock's fifty day simple moving average is $600.16 and its two-hundred day simple moving average is $557.28. The company has a market capitalization of $26.61 billion, a P/E ratio of 113.85, a P/E/G ratio of 5.70 and a beta of 0.77. Tyler Technologies, Inc. has a one year low of $397.80 and a one year high of $637.53.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TYL shares. JMP Securities lifted their target price on Tyler Technologies from $580.00 to $700.00 and gave the company a "market outperform" rating in a research report on Friday, October 25th. Needham & Company LLC upped 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. Robert W. Baird lifted their price target on Tyler Technologies from $625.00 to $700.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. Barclays boosted their price objective 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. Finally, DA Davidson increased their target price on shares of Tyler Technologies from $525.00 to $550.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $642.62.

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.