Verdence Capital Advisors LLC Makes New $220,000 Investment in Tyler Technologies, Inc. (NYSE:TYL)

Verdence Capital Advisors LLC acquired a new stake in shares of Tyler Technologies, Inc. (NYSE:TYL) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 525 shares of the technology company’s stock, valued at approximately $220,000.

Other institutional investors and hedge funds have also modified their holdings of the company. First Trust Direct Indexing L.P. lifted its holdings in Tyler Technologies by 2.7% in the third quarter. First Trust Direct Indexing L.P. now owns 1,095 shares of the technology company’s stock valued at $423,000 after acquiring an additional 29 shares during the period. Baron Wealth Management LLC lifted its stake in shares of Tyler Technologies by 2.0% in the 4th quarter. Baron Wealth Management LLC now owns 1,463 shares of the technology company’s stock valued at $612,000 after purchasing an additional 29 shares during the period. Cavalier Investments LLC boosted its holdings in Tyler Technologies by 2.7% during the third quarter. Cavalier Investments LLC now owns 1,352 shares of the technology company’s stock worth $522,000 after buying an additional 35 shares in the last quarter. CIBC Asset Management Inc grew its position in Tyler Technologies by 0.6% during the third quarter. CIBC Asset Management Inc now owns 6,030 shares of the technology company’s stock valued at $2,328,000 after buying an additional 35 shares during the period. Finally, Allred Capital Management LLC increased its holdings in Tyler Technologies by 0.8% in the third quarter. Allred Capital Management LLC now owns 4,663 shares of the technology company’s stock valued at $1,801,000 after buying an additional 36 shares in the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

Tyler Technologies Trading Up 1.6 %

Shares of TYL stock opened at $418.16 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. Tyler Technologies, Inc. has a twelve month low of $361.16 and a twelve month high of $454.74. The company’s 50-day moving average price is $422.97 and its 200-day moving average price is $414.28. The stock has a market cap of $17.75 billion, a price-to-earnings ratio of 107.50, a PEG ratio of 4.05 and a beta of 0.81.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, February 14th. The technology company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.06. The company had revenue of $480.94 million for the quarter, compared to analyst estimates of $483.34 million. Tyler Technologies had a net margin of 8.50% and a return on equity of 8.85%. As a group, equities analysts predict that Tyler Technologies, Inc. will post 6.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TYL shares. Needham & Company LLC increased their target price on shares of Tyler Technologies from $475.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. JMP Securities reissued a “market outperform” rating and issued a $490.00 price objective on shares of Tyler Technologies in a report on Friday, February 16th. Piper Sandler upped their target price on Tyler Technologies from $480.00 to $520.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. JPMorgan Chase & Co. increased their target price on Tyler Technologies from $500.00 to $526.00 and gave the company an “overweight” rating in a research report on Thursday, February 15th. Finally, DA Davidson boosted their price target on shares of Tyler Technologies from $412.00 to $434.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tyler Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $460.46.

Insider Buying and Selling at Tyler Technologies

In other news, insider John S. Marr, Jr. sold 6,500 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $427.82, for a total transaction of $2,780,830.00. Following the completion of the transaction, the insider now directly owns 6,400 shares in the company, valued at approximately $2,738,048. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Brian K. Miller sold 5,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $442.99, for a total transaction of $2,214,950.00. Following the completion of the transaction, the chief financial officer now directly owns 14,610 shares in the company, valued at $6,472,083.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider John S. Marr, Jr. sold 6,500 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $427.82, for a total value of $2,780,830.00. Following the completion of the sale, the insider now owns 6,400 shares in the company, valued at approximately $2,738,048. The disclosure for this sale can be found here. Insiders have sold 50,608 shares of company stock worth $21,974,819 over the last quarter. 1.50% of the stock is currently owned by company insiders.

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.