abrdn plc Increases Stake in Tyler Technologies, Inc. (NYSE:TYL)

abrdn plc grew its stake in Tyler Technologies, Inc. (NYSE:TYL) by 79.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 19,749 shares of the technology company’s stock after buying an additional 8,735 shares during the quarter. abrdn plc’s holdings in Tyler Technologies were worth $8,257,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Trust Direct Indexing L.P. raised its position in shares of Tyler Technologies by 2.7% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,095 shares of the technology company’s stock worth $423,000 after acquiring an additional 29 shares in the last quarter. Baron Wealth Management LLC raised its position in shares of Tyler Technologies by 2.0% during the 4th quarter. Baron Wealth Management LLC now owns 1,463 shares of the technology company’s stock worth $612,000 after acquiring an additional 29 shares in the last quarter. Cavalier Investments LLC raised its position in shares of Tyler Technologies by 2.7% during the 3rd quarter. Cavalier Investments LLC now owns 1,352 shares of the technology company’s stock worth $522,000 after acquiring an additional 35 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Tyler Technologies by 0.6% during the 3rd quarter. CIBC Asset Management Inc now owns 6,030 shares of the technology company’s stock worth $2,328,000 after acquiring an additional 35 shares in the last quarter. Finally, Allred Capital Management LLC raised its position in shares of Tyler Technologies by 0.8% during the 3rd quarter. Allred Capital Management LLC now owns 4,663 shares of the technology company’s stock worth $1,801,000 after acquiring an additional 36 shares in the last quarter. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Tyler Technologies Trading Up 0.6 %

NYSE:TYL opened at $460.74 on Friday. The firm has a market cap of $19.56 billion, a P/E ratio of 104.24, a PEG ratio of 4.51 and a beta of 0.81. The company has a current ratio of 0.94, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. The stock’s 50 day simple moving average is $422.62 and its 200-day simple moving average is $414.83. Tyler Technologies, Inc. has a 12-month low of $361.16 and a 12-month high of $465.78.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, February 14th. The technology company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.06. Tyler Technologies had a return on equity of 9.35% and a net margin of 9.50%. The firm had revenue of $480.94 million for the quarter, compared to the consensus estimate of $483.34 million. Equities analysts anticipate that Tyler Technologies, Inc. will post 6.77 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TYL shares. JPMorgan Chase & Co. raised their target price on Tyler Technologies from $500.00 to $526.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. Piper Sandler reaffirmed an “overweight” rating and set a $520.00 price target on shares of Tyler Technologies in a research report on Wednesday. JMP Securities reaffirmed a “market outperform” rating and set a $490.00 price target on shares of Tyler Technologies in a research report on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $500.00 price target on shares of Tyler Technologies in a research report on Thursday. Finally, DA Davidson lifted their price target on Tyler Technologies from $412.00 to $434.00 and gave the stock a “neutral” rating in a research report on Thursday, February 22nd. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $465.85.

Insider Activity at Tyler Technologies

In related news, insider John S. Marr, Jr. sold 6,500 shares of Tyler Technologies stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $437.49, for a total value of $2,843,685.00. Following the sale, the insider now directly owns 6,400 shares in the company, valued at $2,799,936. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO H Lynn Moore, Jr. sold 10,000 shares of Tyler Technologies stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $435.98, for a total value of $4,359,800.00. Following the sale, the chief executive officer now directly owns 75,000 shares in the company, valued at $32,698,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John S. Marr, Jr. sold 6,500 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $437.49, for a total value of $2,843,685.00. Following the sale, the insider now owns 6,400 shares in the company, valued at $2,799,936. The disclosure for this sale can be found here. Insiders have sold a total of 50,608 shares of company stock worth $21,974,819 over the last three months. 2.20% of the stock is currently owned by corporate insiders.

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.