Rovin Capital UT ADV boosted its stake in Tyler Technologies, Inc. (NYSE:TYL – Get Rating) by 20.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,349 shares of the technology company's stock after purchasing an additional 225 shares during the quarter. Rovin Capital UT ADV's holdings in Tyler Technologies were worth $449,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. GHP Investment Advisors Inc. acquired a new position in shares of Tyler Technologies during the first quarter worth about $30,000. Standard Family Office LLC acquired a new position in Tyler Technologies during the first quarter valued at approximately $49,000. Aaron Wealth Advisors LLC bought a new stake in Tyler Technologies in the first quarter valued at approximately $51,000. Prospera Financial Services Inc bought a new position in shares of Tyler Technologies during the first quarter worth approximately $58,000. Finally, NuWave Investment Management LLC bought a new position in shares of Tyler Technologies during the second quarter worth approximately $73,000. Institutional investors own 89.42% of the company's stock.
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Wall Street Analyst Weigh In
A number of equities analysts have commented on the company. Truist Financial lowered their price objective on Tyler Technologies from $550.00 to $500.00 and set a "buy" rating on the stock in a research note on Tuesday, July 5th. Wells Fargo & Company raised Tyler Technologies from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $425.00 to $435.00 in a report on Tuesday, June 7th. Robert W. Baird reduced their target price on Tyler Technologies from $600.00 to $500.00 in a report on Friday, July 29th. DA Davidson raised their target price on Tyler Technologies to $460.00 in a report on Tuesday, August 9th. Finally, Piper Sandler raised their target price on Tyler Technologies from $405.00 to $468.00 and gave the company an "overweight" rating in a report on Friday, July 29th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Tyler Technologies has an average rating of "Moderate Buy" and an average target price of $470.55.
Tyler Technologies Trading Down 0.1 %
TYL traded down $0.20 during midday trading on Friday, hitting $347.50. 321,275 shares of the company were exchanged, compared to its average volume of 160,101. The firm has a market capitalization of $14.45 billion, a P/E ratio of 82.54 and a beta of 0.91. Tyler Technologies, Inc. has a 1-year low of $300.85 and a 1-year high of $557.55. The firm's 50 day moving average price is $380.17 and its 200-day moving average price is $374.67. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.50.
Tyler Technologies (NYSE:TYL – Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The technology company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.07. Tyler Technologies had a return on equity of 10.26% and a net margin of 9.84%. The firm had revenue of $468.70 million during the quarter, compared to analyst estimates of $458.50 million. During the same period last year, the company posted $1.42 EPS. The business's quarterly revenue was up 16.0% on a year-over-year basis. As a group, equities analysts forecast that Tyler Technologies, Inc. will post 5.52 EPS for the current fiscal year.
Insider Transactions at Tyler Technologies
In related news, COO Jeffrey David Puckett sold 3,906 shares of the business's stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $390.15, for a total value of $1,523,925.90. Following the completion of the sale, the chief operating officer now directly owns 3,569 shares of the company's stock, valued at approximately $1,392,445.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.00% of the company's stock.
Tyler Technologies Profile
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Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. The company operates in three segments: Enterprise Software; Appraisal and Tax; and NIC. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools.
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