Mattern Capital Management LLC Buys New Holdings in Tyler Technologies, Inc. $TYL

Mattern Capital Management LLC bought a new stake in shares of Tyler Technologies, Inc. (NYSE:TYL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,122 shares of the technology company’s stock, valued at approximately $963,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC raised its stake in Tyler Technologies by 6,100.0% during the 4th quarter. Salomon & Ludwin LLC now owns 62 shares of the technology company’s stock valued at $27,000 after purchasing an additional 61 shares during the period. Root Financial Partners LLC bought a new stake in Tyler Technologies in the 3rd quarter worth approximately $28,000. Advisors Asset Management Inc. bought a new stake in Tyler Technologies in the 1st quarter worth approximately $38,000. Geneos Wealth Management Inc. increased its stake in Tyler Technologies by 137.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 69 shares of the technology company’s stock worth $40,000 after acquiring an additional 40 shares during the last quarter. Finally, Quent Capital LLC bought a new stake in Tyler Technologies in the 3rd quarter worth approximately $49,000. Institutional investors own 93.30% of the company’s stock.

Tyler Technologies Stock Up 1.8%

TYL opened at $341.70 on Friday. The business has a fifty day moving average of $340.02 and a 200 day moving average of $412.22. Tyler Technologies, Inc. has a 52-week low of $283.71 and a 52-week high of $621.34. The stock has a market cap of $14.51 billion, a P/E ratio of 47.46, a PEG ratio of 2.25 and a beta of 0.92.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, February 11th. The technology company reported $2.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.07). Tyler Technologies had a net margin of 13.53% and a return on equity of 10.42%. The business had revenue of $575.18 million for the quarter, compared to analysts’ expectations of $591.09 million. During the same quarter in the previous year, the firm earned $2.43 EPS. Tyler Technologies’s revenue was up 6.3% compared to the same quarter last year. Equities analysts anticipate that Tyler Technologies, Inc. will post 9.93 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Stifel Nicolaus reduced their price objective on Tyler Technologies from $550.00 to $400.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $325.00 price objective on shares of Tyler Technologies in a research note on Friday, February 13th. Barclays reduced their price objective on Tyler Technologies from $715.00 to $410.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. BTIG Research reduced their price objective on Tyler Technologies from $470.00 to $420.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. Finally, TD Cowen reduced their price objective on Tyler Technologies from $600.00 to $500.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $463.69.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, Director Andrew D. Teed acquired 1,600 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The stock was bought at an average price of $309.91 per share, for a total transaction of $495,856.00. Following the acquisition, the director directly owned 5,118 shares in the company, valued at $1,586,119.38. The trade was a 45.48% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jeffrey David Puckett sold 5,174 shares of Tyler Technologies stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $369.93, for a total value of $1,914,017.82. Following the sale, the chief operating officer directly owned 7,754 shares of the company’s stock, valued at approximately $2,868,437.22. This trade represents a 40.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 7,298 shares of company stock worth $2,658,721 over the last quarter. 1.10% of the stock is owned by insiders.

Tyler Technologies Company 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.