Stevens Capital Management LP Makes New Investment in Tyler Technologies, Inc. (NYSE:TYL)

Stevens Capital Management LP acquired a new position in shares of Tyler Technologies, Inc. (NYSE:TYL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,154 shares of the technology company’s stock, valued at approximately $483,000.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Tyler Technologies by 0.6% during the third quarter. Vanguard Group Inc. now owns 4,913,419 shares of the technology company’s stock worth $1,897,268,000 after buying an additional 29,578 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Tyler Technologies by 0.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,268,954 shares of the technology company’s stock worth $489,994,000 after acquiring an additional 5,013 shares in the last quarter. Morgan Stanley grew its stake in shares of Tyler Technologies by 21.1% in the 3rd quarter. Morgan Stanley now owns 1,015,713 shares of the technology company’s stock worth $392,208,000 after acquiring an additional 177,242 shares in the last quarter. Invesco Ltd. grew its stake in shares of Tyler Technologies by 6.5% in the 3rd quarter. Invesco Ltd. now owns 860,928 shares of the technology company’s stock worth $332,439,000 after acquiring an additional 52,798 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Tyler Technologies by 3.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 823,952 shares of the technology company’s stock worth $318,161,000 after acquiring an additional 28,157 shares in the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Tyler Technologies Price Performance

Shares of Tyler Technologies stock traded up $39.45 on Thursday, reaching $458.45. The stock had a trading volume of 503,041 shares, compared to its average volume of 210,935. Tyler Technologies, Inc. has a 1 year low of $361.16 and a 1 year high of $464.81. The company has a market cap of $19.46 billion, a P/E ratio of 114.57, a price-to-earnings-growth ratio of 4.12 and a beta of 0.81. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. The business’s 50 day moving average is $422.28 and its two-hundred day moving average is $414.52.

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

Insider Transactions at Tyler Technologies

In other news, CFO Brian K. Miller sold 5,000 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $442.99, for a total value of $2,214,950.00. Following the sale, the chief financial officer now directly owns 14,610 shares of the company’s stock, valued at $6,472,083.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider John S. Marr, Jr. sold 6,500 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were 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 of the company’s stock, valued at $2,799,936. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian K. Miller sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $442.99, for a total transaction of $2,214,950.00. Following the completion of the sale, the chief financial officer now directly owns 14,610 shares in the company, valued at $6,472,083.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,608 shares of company stock valued at $21,974,819. 2.20% of the stock is currently owned by corporate insiders.

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.