SVB Wealth LLC Purchases New Stake in Tyler Technologies, Inc. (NYSE:TYL)

SVB Wealth LLC purchased a new stake in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 8,755 shares of the technology company's stock, valued at approximately $5,048,000.

A number of other hedge funds have also modified their holdings of TYL. Oak Thistle LLC increased its position in Tyler Technologies by 213.7% in the 4th quarter. Oak Thistle LLC now owns 2,328 shares of the technology company's stock worth $1,342,000 after purchasing an additional 1,586 shares during the last quarter. Aigen Investment Management LP acquired a new position in Tyler Technologies in the third quarter worth approximately $1,309,000. Maiden Cove Capital LLC bought a new position in Tyler Technologies during the third quarter valued at approximately $583,000. Assetmark Inc. lifted its stake in Tyler Technologies by 9.4% in the third quarter. Assetmark Inc. now owns 9,910 shares of the technology company's stock valued at $5,785,000 after acquiring an additional 854 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Tyler Technologies in the third quarter worth approximately $569,000. 93.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TYL shares. The Goldman Sachs Group boosted their price target on Tyler Technologies from $660.00 to $728.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Needham & Company LLC reissued a "buy" rating and set a $700.00 price objective on shares of Tyler Technologies in a report on Tuesday, January 21st. Barclays boosted their target price on shares of Tyler Technologies from $705.00 to $715.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. DA Davidson reiterated a "neutral" rating and set a $575.00 target price on shares of Tyler Technologies in a research report on Thursday, January 30th. Finally, Truist Financial reissued a "buy" rating and set a $775.00 price target (up from $685.00) on shares of Tyler Technologies in a report on Friday, February 14th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $676.25.

Tyler Technologies Stock Up 1.4 %

Shares of Tyler Technologies stock traded up $8.80 during trading hours on Wednesday, reaching $626.10. 251,176 shares of the company's stock were exchanged, compared to its average volume of 237,373. The stock has a market cap of $26.93 billion, a P/E ratio of 103.32, a P/E/G ratio of 4.93 and a beta of 0.78. The company has a 50 day moving average of $599.07 and a two-hundred day moving average of $598.26. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies, Inc. has a fifty-two week low of $397.80 and a fifty-two week high of $661.31.

Tyler Technologies (NYSE:TYL - Get Free Report) last released its earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. On average, sell-side analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Insider Activity

In other Tyler Technologies news, CFO Brian K. Miller sold 6,752 shares of the firm's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $613.75, for a total transaction of $4,144,040.00. Following the completion of the sale, the chief financial officer now owns 11,918 shares of the company's stock, valued at $7,314,672.50. This trade represents a 36.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the company's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the completion of the transaction, the chief executive officer now owns 75,734 shares in the company, valued at approximately $46,772,561.06. This represents a 7.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.20% of the company's stock.

About Tyler Technologies

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.