Proficio Capital Partners LLC Invests $33.58 Million in Tyler Technologies, Inc. (NYSE:TYL)

Proficio Capital Partners LLC acquired a new position in shares of Tyler Technologies, Inc. (NYSE:TYL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 58,241 shares of the technology company’s stock, valued at approximately $33,584,000.

Several other large investors also recently made changes to their positions in TYL. Van ECK Associates Corp increased its position in shares of Tyler Technologies by 1,991.8% during the fourth quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock worth $317,486,000 after acquiring an additional 524,259 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Tyler Technologies by 148.2% during the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock worth $269,369,000 after acquiring an additional 275,511 shares in the last quarter. Seilern Investment Management Ltd bought a new stake in shares of Tyler Technologies during the fourth quarter worth $105,549,000. Los Angeles Capital Management LLC increased its position in shares of Tyler Technologies by 2,291.7% during the fourth quarter. Los Angeles Capital Management LLC now owns 106,118 shares of the technology company’s stock worth $61,192,000 after acquiring an additional 101,681 shares in the last quarter. Finally, TCW Group Inc. bought a new position in Tyler Technologies in the fourth quarter valued at $36,099,000. Institutional investors own 93.30% of the company’s stock.

Tyler Technologies Stock Up 1.9 %

Tyler Technologies stock opened at $563.81 on Friday. The firm has a market capitalization of $24.25 billion, a PE ratio of 93.04, a P/E/G ratio of 4.93 and a beta of 0.80. The company’s 50-day moving average is $598.95 and its 200-day moving average is $598.28. Tyler Technologies, Inc. has a fifty-two week low of $397.80 and a fifty-two week high of $661.31. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21.

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on TYL shares. StockNews.com lowered shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Monday, February 24th. Needham & Company LLC reiterated a “buy” rating and issued a $700.00 price target on shares of Tyler Technologies in a research note on Tuesday, January 21st. DA Davidson reiterated a “neutral” rating and issued a $575.00 price target on shares of Tyler Technologies in a research note on Thursday, January 30th. Barclays lifted their price target 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. Finally, Truist Financial reiterated a “buy” rating and issued a $775.00 price target (up from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $676.25.

Insider Buying and Selling

In related news, CEO H Lynn Moore, Jr. sold 6,514 shares of Tyler Technologies stock in a transaction dated 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 sale, the chief executive officer now owns 75,734 shares of the company’s stock, valued at approximately $46,772,561.06. The trade was a 7.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Brian K. Miller sold 1,550 shares of Tyler Technologies stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $613.58, for a total transaction of $951,049.00. Following the sale, the chief financial officer now directly owns 14,026 shares of the company’s stock, valued at $8,606,073.08. The trade was a 9.95 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,064 shares of company stock valued at $8,688,030. Company insiders own 2.20% of the company’s stock.

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.