Kovitz Investment Group Partners LLC Purchases 50 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Kovitz Investment Group Partners LLC grew its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,460 shares of the technology company’s stock after purchasing an additional 50 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Tyler Technologies were worth $1,419,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of TYL. Norges Bank bought a new stake in shares of Tyler Technologies during the 4th quarter valued at $528,465,000. Van ECK Associates Corp increased 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 purchasing an additional 524,259 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Tyler Technologies in the fourth quarter valued at about $159,947,000. JPMorgan Chase & Co. boosted its holdings in 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 buying an additional 275,511 shares during the last quarter. Finally, Seilern Investment Management Ltd acquired a new position in shares of Tyler Technologies during the 4th quarter worth about $105,549,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

Insider Buying and Selling at Tyler Technologies

In related news, CFO Brian K. Miller sold 1,550 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $613.58, for a total value of $951,049.00. Following the sale, the chief financial officer now owns 14,026 shares in the company, valued at approximately $8,606,073.08. This represents a 9.95 % 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, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the transaction, the insider now directly owns 6,983 shares of the company’s stock, valued at approximately $4,322,477. This trade represents a 46.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,064 shares of company stock worth $8,688,030 over the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TYL has been the topic of a number of analyst reports. StockNews.com upgraded shares of Tyler Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, April 24th. Robert W. Baird reduced their price target on shares of Tyler Technologies from $785.00 to $700.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Needham & Company LLC restated a “buy” rating and issued a $750.00 price objective on shares of Tyler Technologies in a research report on Thursday, April 24th. Wells Fargo & Company reduced their target price on Tyler Technologies from $640.00 to $610.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Finally, Piper Sandler lowered their price target on Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating for the company in a report on Friday, April 25th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $674.67.

Tyler Technologies Price Performance

NYSE TYL opened at $534.53 on Wednesday. Tyler Technologies, Inc. has a 12-month low of $452.57 and a 12-month high of $661.31. The firm’s 50 day moving average is $573.02 and its 200-day moving average is $593.07. The company has a market capitalization of $23.04 billion, a PE ratio of 88.21, a price-to-earnings-growth ratio of 4.93 and a beta of 0.84. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.56 by $0.22. The firm had revenue of $562.43 million for the quarter, compared to analysts’ expectations of $556.45 million. Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.20 EPS. Equities research analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal 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.