SG Americas Securities LLC Raises Stock Position in Tyler Technologies, Inc. (NYSE:TYL)

SG Americas Securities LLC increased its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 888.0% in the 1st quarter, HoldingsChannel reports. The firm owned 14,425 shares of the technology company’s stock after acquiring an additional 12,965 shares during the quarter. SG Americas Securities LLC’s holdings in Tyler Technologies were worth $8,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in TYL. Larson Financial Group LLC increased its holdings in Tyler Technologies by 221.4% in the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock valued at $26,000 after buying an additional 31 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new position in Tyler Technologies in the 1st quarter valued at about $26,000. Sierra Ocean LLC purchased a new stake in shares of Tyler Technologies in the 4th quarter valued at approximately $32,000. Brown Brothers Harriman & Co. raised its stake in shares of Tyler Technologies by 300.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock valued at $32,000 after acquiring an additional 42 shares during the period. Finally, Kapitalo Investimentos Ltda purchased a new stake in Tyler Technologies during the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 1,200 shares of Tyler Technologies stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $577.66, for a total transaction of $693,192.00. Following the transaction, the chief financial officer now directly owns 17,475 shares of the company’s stock, valued at $10,094,608.50. The trade was a 6.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of Tyler Technologies stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $573.60, for a total transaction of $215,100.00. Following the transaction, the insider now directly owns 247 shares in the company, valued at approximately $141,679.20. This trade represents a 60.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,806 shares of company stock worth $10,092,030. 1.10% of the stock is owned by company insiders.

Tyler Technologies Stock Performance

Shares of NYSE TYL opened at $583.69 on Thursday. The company has a market cap of $25.17 billion, a PE ratio of 96.32, a price-to-earnings-growth ratio of 4.93 and a beta of 0.84. Tyler Technologies, Inc. has a 12 month low of $458.50 and a 12 month high of $661.31. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21. The company has a 50-day simple moving average of $561.95 and a 200-day simple moving average of $585.54.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $0.22. Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. The firm had revenue of $562.43 million during the quarter, compared to the consensus estimate of $556.45 million. During the same period in the previous year, the firm earned $2.20 earnings per share. Tyler Technologies’s revenue was up 10.3% compared to the same quarter last year. On average, equities analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Wells Fargo & Company dropped their price objective on shares of Tyler Technologies from $640.00 to $610.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. The Goldman Sachs Group increased their price target on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Barclays reduced their target price on shares of Tyler Technologies from $700.00 to $695.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. Wall Street Zen cut shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. Finally, Truist Financial reiterated a “buy” rating and issued a $775.00 price objective (up previously from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Tyler Technologies has a consensus rating of “Moderate Buy” and an average price target of $680.50.

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.