AlphaQuest LLC Invests $164,000 in Tyler Technologies, Inc. (NYSE:TYL)

AlphaQuest LLC purchased a new position in Tyler Technologies, Inc. (NYSE:TYL) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 284 shares of the technology company’s stock, valued at approximately $164,000.

A number of other institutional investors also recently made changes to their positions in TYL. Larson Financial Group LLC increased its stake in Tyler Technologies by 221.4% in the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock valued at $26,000 after purchasing an additional 31 shares during the last quarter. Sierra Ocean LLC acquired a new position in Tyler Technologies in the fourth quarter valued at $32,000. OFI Invest Asset Management acquired a new position in Tyler Technologies in the fourth quarter valued at $41,000. Smithfield Trust Co increased its stake in Tyler Technologies by 55.6% in the fourth quarter. Smithfield Trust Co now owns 84 shares of the technology company’s stock valued at $48,000 after purchasing an additional 30 shares during the last quarter. Finally, Private Trust Co. NA increased its stake in Tyler Technologies by 51.8% in the fourth quarter. Private Trust Co. NA now owns 85 shares of the technology company’s stock valued at $49,000 after purchasing an additional 29 shares during the last quarter. 93.30% of the stock is owned by institutional investors and hedge funds.

Tyler Technologies Price Performance

Shares of NYSE TYL opened at $575.78 on Tuesday. Tyler Technologies, Inc. has a 1-year low of $397.80 and a 1-year high of $661.31. The business has a 50-day moving average of $598.57 and a 200-day moving average of $598.40. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21. The company has a market capitalization of $24.77 billion, a price-to-earnings ratio of 95.01, a PEG ratio of 4.93 and a beta of 0.80.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 EPS for the quarter, missing analysts’ consensus estimates 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, equities analysts anticipate that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Insider Activity at Tyler Technologies

In related news, insider John S. Marr, Jr. sold 6,000 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $619.00, for a total value of $3,714,000.00. Following the completion of the transaction, the insider now owns 6,983 shares of the company’s stock, valued at approximately $4,322,477. This represents a 46.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total value of $4,022,981.26. Following the completion of the transaction, the chief executive officer now directly owns 75,734 shares of the company’s stock, valued at $46,772,561.06. This represents a 7.92 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,064 shares of company stock valued at $8,688,030. Insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

TYL has been the subject of several analyst reports. Piper Sandler upped their target price on Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. StockNews.com lowered Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Monday, February 24th. Needham & Company LLC restated a “buy” rating and set a $700.00 price target on shares of Tyler Technologies in a research note on Tuesday, January 21st. Truist Financial restated a “buy” rating and set a $775.00 price target (up from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. Finally, Barclays upped their price target on Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $676.25.

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.