Geode Capital Management LLC Increases Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Geode Capital Management LLC lifted its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 2.2% in the third quarter, HoldingsChannel.com reports. The fund owned 1,108,908 shares of the technology company’s stock after buying an additional 24,284 shares during the quarter. Geode Capital Management LLC’s holdings in Tyler Technologies were worth $645,585,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Aigen Investment Management LP purchased a new stake in Tyler Technologies in the 3rd quarter worth $1,309,000. Vaughan Nelson Investment Management L.P. lifted its position in shares of Tyler Technologies by 21.5% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 123,253 shares of the technology company’s stock worth $61,969,000 after buying an additional 21,818 shares in the last quarter. Maiden Cove Capital LLC bought a new position in Tyler Technologies during the third quarter valued at approximately $583,000. Assetmark Inc. grew its holdings in Tyler Technologies by 9.4% during the 3rd quarter. Assetmark Inc. now owns 9,910 shares of the technology company’s stock valued at $5,785,000 after buying an additional 854 shares in the last quarter. Finally, MBB Public Markets I LLC bought a new stake in Tyler Technologies in the 2nd quarter worth approximately $1,564,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 3,000 shares of Tyler Technologies stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $602.72, for a total transaction of $1,808,160.00. Following the completion of the sale, the chief financial officer now directly owns 11,950 shares of the company’s stock, valued at $7,202,504. The trade was a 20.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John S. Marr, Jr. sold 12,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $613.66, for a total value of $7,363,920.00. Following the transaction, the insider now directly owns 6,983 shares in the company, valued at $4,285,187.78. The trade was a 63.21 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,500 shares of company stock worth $21,952,888. Company insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Barclays increased their target price on Tyler Technologies from $700.00 to $705.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. DA Davidson increased their price objective on shares of Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. StockNews.com downgraded shares of Tyler Technologies from a “buy” rating to a “hold” rating in a report on Friday, December 6th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $627.00 price target on shares of Tyler Technologies in a report on Friday, September 13th. Finally, Needham & Company LLC boosted their price objective on Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $642.62.

Tyler Technologies Stock Performance

TYL stock opened at $628.38 on Friday. Tyler Technologies, Inc. has a twelve month low of $397.80 and a twelve month high of $638.56. The firm has a market cap of $26.89 billion, a price-to-earnings ratio of 114.67, a PEG ratio of 5.66 and a beta of 0.76. The business’s fifty day simple moving average is $608.09 and its two-hundred day simple moving average is $564.69. 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 announced its quarterly earnings data 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 company had revenue of $543.34 million during the quarter, compared to analyst estimates of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted $1.66 EPS. Analysts predict that Tyler Technologies, Inc. will post 7.36 earnings per share for the current year.

Tyler Technologies 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.