Virtu Financial LLC Takes Position in Tyler Technologies, Inc. (NYSE:TYL)

Virtu Financial LLC purchased a new position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 3,127 shares of the technology company's stock, valued at approximately $1,825,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Independence Bank of Kentucky acquired a new position in Tyler Technologies during the 2nd quarter valued at about $25,000. Ashton Thomas Securities LLC purchased a new stake in Tyler Technologies in the 3rd quarter valued at $27,000. Blue Trust Inc. lifted its stake in Tyler Technologies by 329.4% during the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company's stock valued at $37,000 after acquiring an additional 56 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Tyler Technologies during the 2nd quarter worth $61,000. Finally, Tobam purchased a new stake in shares of Tyler Technologies in the third quarter valued at about $78,000. Institutional investors own 93.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TYL shares. Needham & Company LLC raised their price target on shares of Tyler Technologies from $600.00 to $700.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. Barclays lifted their target price on shares of Tyler Technologies from $700.00 to $705.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. Piper Sandler upped their target price on Tyler Technologies from $625.00 to $701.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Oppenheimer boosted their price objective on Tyler Technologies from $625.00 to $700.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. Finally, Truist Financial restated a "buy" rating and set a $685.00 price target (up previously from $600.00) on shares of Tyler Technologies in a research report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $642.62.

Tyler Technologies Trading Down 2.7 %

Shares of TYL traded down $17.12 during mid-day trading on Friday, reaching $611.12. 199,967 shares of the company's stock traded hands, compared to its average volume of 235,167. Tyler Technologies, Inc. has a 12 month low of $397.80 and a 12 month high of $638.56. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. The stock has a market cap of $26.16 billion, a P/E ratio of 111.52, a P/E/G ratio of 5.66 and a beta of 0.76. The stock's 50-day moving average is $608.72 and its two-hundred day moving average is $565.52.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, topping analysts' consensus estimates of $2.43 by $0.09. The business 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 quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company posted $1.66 earnings per share. Research analysts forecast that Tyler Technologies, Inc. will post 7.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Brian K. Miller sold 3,000 shares of the company'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 sale, the chief financial officer now directly owns 11,950 shares of the company's stock, valued at $7,202,504. This represents a 20.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $605.82, for a total value of $3,786,375.00. Following the sale, the chief executive officer now directly owns 75,000 shares in the company, valued at $45,436,500. This represents a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,500 shares of company stock worth $21,952,888 in the last ninety days. 2.20% of the stock is owned by 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.