Empirical Finance LLC Grows Stake in Tyler Technologies, Inc. (NYSE:TYL)

Empirical Finance LLC boosted its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,342 shares of the technology company’s stock after purchasing an additional 34 shares during the quarter. Empirical Finance LLC’s holdings in Tyler Technologies were worth $783,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. QRG Capital Management Inc. boosted its position in shares of Tyler Technologies by 10.4% in the 1st quarter. QRG Capital Management Inc. now owns 658 shares of the technology company’s stock worth $280,000 after buying an additional 62 shares in the last quarter. Avantax Advisory Services Inc. grew its position in shares of Tyler Technologies by 22.2% in the first quarter. Avantax Advisory Services Inc. now owns 819 shares of the technology company’s stock valued at $348,000 after purchasing an additional 149 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Tyler Technologies by 14.7% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,273 shares of the technology company’s stock worth $1,391,000 after purchasing an additional 419 shares in the last quarter. Orion Portfolio Solutions LLC increased its stake in shares of Tyler Technologies by 6.5% during the 1st quarter. Orion Portfolio Solutions LLC now owns 4,722 shares of the technology company’s stock worth $2,007,000 after purchasing an additional 287 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Tyler Technologies during the 1st quarter worth approximately $880,000. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on TYL shares. Oppenheimer increased their target price on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th. JMP Securities lifted their price objective on Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a research report on Friday, October 25th. Wells Fargo & Company boosted their target price on shares of Tyler Technologies from $580.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $627.00 price target on shares of Tyler Technologies in a research note on Friday, September 13th. Finally, Barclays lifted their price target on shares of Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Tyler Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $642.62.

Insider Transactions at Tyler Technologies

In related news, insider John S. Marr, Jr. sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $578.94, for a total transaction of $2,894,700.00. Following the completion of the sale, the insider now directly owns 6,983 shares of the company’s stock, valued at approximately $4,042,738.02. This represents a 41.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $605.82, for a total value of $3,786,375.00. Following the completion of the transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at $45,436,500. This trade represents a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,600 shares of company stock worth $19,307,295. 2.20% of the stock is currently owned by company insiders.

Tyler Technologies Stock Performance

NYSE:TYL opened at $597.10 on Friday. Tyler Technologies, Inc. has a fifty-two week low of $397.80 and a fifty-two week high of $631.43. The firm’s 50 day moving average is $593.78 and its two-hundred day moving average is $547.05. The company has a market cap of $25.56 billion, a P/E ratio of 108.96, a P/E/G ratio of 5.39 and a beta of 0.77. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. The firm had revenue of $543.34 million for the quarter, compared to analysts’ expectations of $547.34 million. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.66 earnings per share. Analysts expect that Tyler Technologies, Inc. will post 7.39 EPS for the current year.

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.