Kirtland Hills Capital Management LLC Increases Stock Position in Tyler Technologies, Inc. (NYSE:TYL)

Kirtland Hills Capital Management LLC raised its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 6.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,684 shares of the technology company’s stock after acquiring an additional 101 shares during the period. Kirtland Hills Capital Management LLC’s holdings in Tyler Technologies were worth $971,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TYL. Geode Capital Management LLC boosted its position in Tyler Technologies by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,108,908 shares of the technology company’s stock worth $645,585,000 after acquiring an additional 24,284 shares during the period. Franklin Resources Inc. boosted its position in shares of Tyler Technologies by 2.0% in the third quarter. Franklin Resources Inc. now owns 912,746 shares of the technology company’s stock valued at $547,354,000 after acquiring an additional 17,943 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Tyler Technologies by 4.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 904,175 shares of the technology company’s stock worth $527,785,000 after acquiring an additional 36,066 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Tyler Technologies by 1,991.8% in the fourth quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock valued at $317,486,000 after acquiring an additional 524,259 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Tyler Technologies by 148.2% in the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock valued at $269,369,000 after acquiring an additional 275,511 shares during the last quarter. 93.30% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tyler Technologies

In related news, insider John S. Marr, Jr. sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $633.55, for a total transaction of $3,801,300.00. Following the completion of the transaction, the insider now owns 6,983 shares of the company’s stock, valued at approximately $4,424,079.65. 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 hyperlink. Also, CFO Brian K. Miller sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $632.01, for a total transaction of $1,580,025.00. Following the transaction, the chief financial officer now directly owns 12,198 shares of the company’s stock, valued at $7,709,257.98. This trade represents a 17.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,252 shares of company stock worth $9,525,365 over the last ninety days. 2.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TYL. Piper Sandler lifted their target price on Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. DA Davidson reissued a “neutral” rating and issued a $575.00 price objective on shares of Tyler Technologies in a research note on Thursday, January 30th. Barclays lifted their price target on Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Needham & Company LLC restated a “buy” rating and set a $700.00 target price on shares of Tyler Technologies in a research report on Tuesday, January 21st. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $615.00 target price (down previously from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $676.25.

Tyler Technologies Trading Up 0.5 %

NYSE TYL opened at $616.44 on Wednesday. The company has a market capitalization of $26.52 billion, a PE ratio of 101.72, a P/E/G ratio of 4.93 and a beta of 0.78. Tyler Technologies, Inc. has a 1 year low of $397.80 and a 1 year high of $661.31. The company has a fifty day moving average of $597.66 and a 200 day moving average of $597.22. 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 posted 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%. Research analysts forecast that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

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.