Fred Alger Management LLC Has $11.84 Million Position in Tyler Technologies, Inc. (NYSE:TYL)

Fred Alger Management LLC boosted its stake in shares of Tyler Technologies, Inc. (NYSE:TYL – Get Rating) by 8.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 34,070 shares of the technology company’s stock after purchasing an additional 2,644 shares during the quarter. Fred Alger Management LLC’s holdings in Tyler Technologies were worth $11,839,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of TYL. Vanguard Group Inc. grew its holdings in shares of Tyler Technologies by 1.0% during the third quarter. Vanguard Group Inc. now owns 4,709,195 shares of the technology company’s stock worth $1,636,445,000 after purchasing an additional 46,542 shares during the last quarter. Bishop Rock Capital L.P. grew its holdings in shares of Tyler Technologies by 26,110.5% during the second quarter. Bishop Rock Capital L.P. now owns 2,336,669 shares of the technology company’s stock worth $7,028,000 after purchasing an additional 2,327,754 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Tyler Technologies by 15.3% during the first quarter. Invesco Ltd. now owns 762,769 shares of the technology company’s stock worth $339,347,000 after purchasing an additional 101,365 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Tyler Technologies by 13.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 618,581 shares of the technology company’s stock worth $205,666,000 after purchasing an additional 74,542 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Tyler Technologies by 7.4% in the third quarter. Van ECK Associates Corp now owns 519,028 shares of the technology company’s stock valued at $180,363,000 after acquiring an additional 35,791 shares during the last quarter. 89.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tyler Technologies

In other news, Chairman John S. Marr, Jr. sold 4,868 shares of the firm’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $325.88, for a total transaction of $1,586,383.84. Following the sale, the chairman now owns 59,970 shares of the company’s stock, valued at $19,543,023.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Daniel M. Pope sold 1,775 shares of Tyler Technologies stock in a transaction that occurred on Friday, March 10th. The stock was sold at an average price of $315.83, for a total value of $560,598.25. Following the sale, the director now owns 5,739 shares of the company’s stock, valued at approximately $1,812,548.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman John S. Marr, Jr. sold 4,868 shares of Tyler Technologies stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $325.88, for a total value of $1,586,383.84. Following the completion of the sale, the chairman now directly owns 59,970 shares in the company, valued at approximately $19,543,023.60. The disclosure for this sale can be found here. Insiders have sold a total of 17,060 shares of company stock valued at $5,599,751 over the last 90 days. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TYL. Piper Sandler decreased their price target on Tyler Technologies from $468.00 to $450.00 and set an “overweight” rating on the stock in a report on Friday, February 17th. Needham & Company LLC reiterated a “buy” rating and issued a $475.00 price target on shares of Tyler Technologies in a report on Friday, February 17th. Credit Suisse Group decreased their price target on Tyler Technologies from $375.00 to $370.00 and set a “neutral” rating on the stock in a report on Tuesday, February 21st. JMP Securities decreased their price target on Tyler Technologies from $465.00 to $415.00 in a report on Friday, February 17th. Finally, Robert W. Baird decreased their price target on Tyler Technologies from $460.00 to $440.00 and set an “outperform” rating on the stock in a report on Tuesday, December 13th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $433.62.

Tyler Technologies Price Performance

Shares of TYL opened at $325.07 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.36. Tyler Technologies, Inc. has a 1 year low of $281.11 and a 1 year high of $453.03. The stock has a market cap of $13.59 billion, a P/E ratio of 84.00 and a beta of 0.81. The stock’s 50-day moving average price is $323.83 and its two-hundred day moving average price is $331.73.

Tyler Technologies Profile

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Tyler Technologies, Inc engages in the provision of integrated technology and management solutions and services for the public sector with a focus on local governments. It operates through the following segments: Enterprise Software and Appraisal and Tax. The Enterprise Software segment provides municipal and county governments and schools with software systems to meet their information technology and automation needs for mission-critical back-office functions such as financial management, courts and justice processes.