Icon Wealth Advisors LLC Buys New Stake in Tyler Technologies, Inc. (NYSE:TYL)

Icon Wealth Advisors LLC bought a new stake in Tyler Technologies, Inc. (NYSE:TYLFree Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 2,146 shares of the technology company’s stock, valued at approximately $897,000.

Other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Tyler Technologies in the fourth quarter valued at about $459,691,000. Morgan Stanley boosted its holdings in Tyler Technologies by 21.1% during the third quarter. Morgan Stanley now owns 1,015,713 shares of the technology company’s stock worth $392,208,000 after buying an additional 177,242 shares in the last quarter. APG Asset Management US Inc. purchased a new stake in Tyler Technologies during the fourth quarter worth about $57,493,000. Van ECK Associates Corp boosted its holdings in Tyler Technologies by 13.1% during the fourth quarter. Van ECK Associates Corp now owns 868,016 shares of the technology company’s stock worth $362,935,000 after buying an additional 100,788 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Tyler Technologies by 6.7% during the fourth quarter. Franklin Resources Inc. now owns 1,040,341 shares of the technology company’s stock worth $434,987,000 after buying an additional 64,889 shares in the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. JMP Securities reissued a “market outperform” rating and issued a $490.00 price objective on shares of Tyler Technologies in a research report on Friday, April 26th. Robert W. Baird upped their price target on shares of Tyler Technologies from $500.00 to $525.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. BTIG Research upped their price target on shares of Tyler Technologies from $515.00 to $550.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Loop Capital upped their price target on shares of Tyler Technologies from $485.00 to $530.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Tyler Technologies from $500.00 to $526.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $519.09.

Get Our Latest Report on TYL

Tyler Technologies Stock Up 0.3 %

Shares of TYL stock traded up $1.63 on Tuesday, hitting $478.65. The stock had a trading volume of 8,061 shares, compared to its average volume of 205,948. The firm has a market capitalization of $20.32 billion, a price-to-earnings ratio of 107.92, a P/E/G ratio of 4.53 and a beta of 0.74. The stock’s 50 day moving average is $456.47 and its 200-day moving average is $434.49. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.94 and a current ratio of 0.94. Tyler Technologies, Inc. has a 52-week low of $361.16 and a 52-week high of $500.49.

Tyler Technologies (NYSE:TYLGet Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.26. The firm had revenue of $512.36 million for the quarter, compared to analysts’ expectations of $507.79 million. Tyler Technologies had a net margin of 9.50% and a return on equity of 9.35%. As a group, research analysts expect that Tyler Technologies, Inc. will post 7.1 earnings per share for the current year.

Insiders Place Their Bets

In other Tyler Technologies news, Director Brenda A. Cline sold 5,000 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $458.83, for a total transaction of $2,294,150.00. Following the sale, the director now directly owns 1,358 shares of the company’s stock, valued at $623,091.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Brenda A. Cline sold 5,000 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $458.83, for a total value of $2,294,150.00. Following the sale, the director now owns 1,358 shares of the company’s stock, valued at approximately $623,091.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider John S. Marr, Jr. sold 6,000 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $483.21, for a total transaction of $2,899,260.00. Following the completion of the sale, the insider now directly owns 6,983 shares in the company, valued at approximately $3,374,255.43. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,441 shares of company stock valued at $12,112,466. Company insiders own 1.50% of the company’s stock.

About Tyler Technologies

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Tyler Technologies (NYSE:TYL)

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