Seilern Investment Management Ltd Invests $105.55 Million in Tyler Technologies, Inc. (NYSE:TYL)

Seilern Investment Management Ltd purchased a new stake in Tyler Technologies, Inc. (NYSE:TYL) in the fourth quarter, HoldingsChannel reports. The firm purchased 183,042 shares of the technology company’s stock, valued at approximately $105,549,000. Tyler Technologies makes up approximately 6.0% of Seilern Investment Management Ltd’s holdings, making the stock its 9th largest position.

Other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in Tyler Technologies during the third quarter worth about $27,000. Tobam acquired a new stake in shares of Tyler Technologies during the 3rd quarter worth approximately $78,000. Quarry LP acquired a new stake in shares of Tyler Technologies during the 3rd quarter worth approximately $78,000. Brooklyn Investment Group acquired a new position in Tyler Technologies during the third quarter valued at approximately $79,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new stake in Tyler Technologies during the third quarter worth $82,000. 93.30% of the stock is currently owned by institutional investors.

Tyler Technologies Trading Down 1.1 %

NYSE TYL opened at $569.18 on Monday. The firm has a market capitalization of $24.36 billion, a PE ratio of 103.87, a price-to-earnings-growth ratio of 4.35 and a beta of 0.78. The business’s 50-day moving average price is $600.60 and its two-hundred day moving average price is $584.12. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies, Inc. has a 12 month low of $397.80 and a 12 month high of $638.56.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. The business had revenue of $543.34 million during the quarter, compared to the consensus estimate of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.66 EPS. On average, analysts expect that Tyler Technologies, Inc. will post 7.36 EPS for the current year.

Analysts Set New Price Targets

TYL has been the topic of several recent analyst reports. DA Davidson lifted their price target on Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. StockNews.com cut Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Barclays increased their target price on shares of Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Truist Financial reiterated a “buy” rating and set a $685.00 price objective (up from $600.00) on shares of Tyler Technologies in a research report on Friday, October 25th. Finally, Piper Sandler raised their target price on shares of Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $643.77.

Insider Activity at Tyler Technologies

In related news, CFO Brian K. Miller sold 3,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $602.72, for a total transaction of $1,808,160.00. Following the transaction, the chief financial officer now owns 11,950 shares in the company, valued at $7,202,504. The trade was a 20.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $633.55, for a total transaction of $3,801,300.00. Following the completion of the sale, the insider now owns 6,983 shares of the company’s stock, valued at $4,424,079.65. The trade was a 46.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,252 shares of company stock worth $26,096,928 over the last quarter. Company insiders own 1.50% of the company’s stock.

About Tyler Technologies

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.