CenterBook Partners LP Takes Position in Tyler Technologies, Inc. $TYL

CenterBook Partners LP purchased a new stake in Tyler Technologies, Inc. (NYSE:TYL) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,597 shares of the technology company’s stock, valued at approximately $1,882,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. acquired a new stake in shares of Tyler Technologies in the 1st quarter worth $38,000. NewEdge Advisors LLC grew its holdings in shares of Tyler Technologies by 17.8% in the first quarter. NewEdge Advisors LLC now owns 251 shares of the technology company’s stock valued at $146,000 after purchasing an additional 38 shares during the period. Woodline Partners LP acquired a new stake in Tyler Technologies during the first quarter worth about $2,102,000. Geneos Wealth Management Inc. raised its stake in Tyler Technologies by 137.9% during the first quarter. Geneos Wealth Management Inc. now owns 69 shares of the technology company’s stock worth $40,000 after purchasing an additional 40 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in Tyler Technologies by 0.6% in the 2nd quarter. Nordea Investment Management AB now owns 3,537 shares of the technology company’s stock valued at $2,068,000 after purchasing an additional 20 shares during the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Brian K. Miller sold 1,000 shares of Tyler Technologies stock in a transaction on Monday, December 15th. The stock was sold at an average price of $448.51, for a total value of $448,510.00. Following the completion of the transaction, the chief financial officer directly owned 17,148 shares in the company, valued at approximately $7,691,049.48. This trade represents a 5.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Glenn A. Carter sold 500 shares of the business’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $458.73, for a total value of $229,365.00. Following the transaction, the director directly owned 3,172 shares of the company’s stock, valued at $1,455,091.56. The trade was a 13.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 3,500 shares of company stock worth $1,605,605 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Tyler Technologies Stock Performance

Shares of TYL opened at $319.57 on Friday. The company’s 50-day simple moving average is $411.80 and its 200-day simple moving average is $479.42. Tyler Technologies, Inc. has a 1 year low of $283.71 and a 1 year high of $641.77. The stock has a market capitalization of $13.75 billion, a PE ratio of 44.39, a P/E/G ratio of 2.12 and a beta of 0.91.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, February 11th. The technology company reported $2.64 earnings per share for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.07). The business had revenue of $575.18 million during the quarter, compared to analyst estimates of $591.09 million. Tyler Technologies had a net margin of 13.53% and a return on equity of 10.42%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.43 EPS. On average, sell-side analysts predict that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TYL. TD Cowen cut their price target on shares of Tyler Technologies from $600.00 to $500.00 and set a “buy” rating for the company in a report on Friday, February 13th. Robert W. Baird set a $440.00 target price on Tyler Technologies in a research note on Friday, February 13th. The Goldman Sachs Group set a $420.00 target price on Tyler Technologies in a research report on Friday, February 13th. Evercore reiterated a “positive” rating on shares of Tyler Technologies in a report on Friday, October 31st. Finally, Oppenheimer reduced their price objective on shares of Tyler Technologies from $510.00 to $450.00 and set an “outperform” rating on the stock in a report on Friday, February 13th. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $467.54.

Tyler Technologies Profile

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler’s product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.