Point72 Asset Management L.P. Makes New Investment in Tyler Technologies, Inc. (NYSE:TYL)

Point72 Asset Management L.P. purchased a new position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,500 shares of the technology company's stock, valued at approximately $876,000.

A number of other large investors also recently added to or reduced their stakes in the company. QRG Capital Management Inc. lifted its stake in Tyler Technologies by 17.9% during the 2nd quarter. QRG Capital Management Inc. now owns 776 shares of the technology company's stock worth $390,000 after acquiring an additional 118 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Tyler Technologies by 18.3% in the second quarter. SG Americas Securities LLC now owns 8,117 shares of the technology company's stock valued at $4,081,000 after purchasing an additional 1,255 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in Tyler Technologies by 9.5% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 890 shares of the technology company's stock worth $447,000 after buying an additional 77 shares in the last quarter. Cigna Investments Inc. New acquired a new position in shares of Tyler Technologies in the second quarter worth $221,000. Finally, Swedbank AB purchased a new stake in shares of Tyler Technologies during the second quarter worth approximately $251,390,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Tyler Technologies Price Performance

Shares of Tyler Technologies stock traded up $7.56 on Wednesday, hitting $625.00. The company had a trading volume of 196,707 shares, compared to its average volume of 234,776. Tyler Technologies, Inc. has a 52 week low of $397.80 and a 52 week high of $638.56. The company has a market cap of $26.75 billion, a PE ratio of 112.67, a PEG ratio of 5.64 and a beta of 0.76. The business has a 50-day simple moving average of $606.33 and a 200-day simple moving average of $563.82. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.43 by $0.09. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The business had revenue of $543.34 million during the quarter, compared to analyst estimates of $547.34 million. During the same period in the prior year, the firm earned $1.66 earnings per share. The firm's revenue was up 9.8% compared to the same quarter last year. Research analysts expect that Tyler Technologies, Inc. will post 7.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Tyler Technologies

In other news, CFO Brian K. Miller sold 3,000 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was 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 directly owns 11,950 shares in the company, valued at approximately $7,202,504. This trade represents a 20.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $576.62, for a total transaction of $2,883,100.00. Following the sale, the chief executive officer now directly owns 75,000 shares in the company, valued at approximately $43,246,500. This represents a 6.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,500 shares of company stock valued at $24,835,988 in the last 90 days. 1.50% of the stock is currently owned by company insiders.

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.