Tyler Technologies, Inc. $TYL Stock Purchased by Mountain Pacific Investment Advisers LLC

Mountain Pacific Investment Advisers LLC increased its stake in Tyler Technologies, Inc. (NYSE:TYL) by 204.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,984 shares of the technology company’s stock after buying an additional 3,346 shares during the quarter. Mountain Pacific Investment Advisers LLC’s holdings in Tyler Technologies were worth $1,588,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. BlackRock Inc. acquired a new position in Tyler Technologies during the 2nd quarter worth approximately $1,129,890,000. Bank of America Corp DE acquired a new stake in shares of Tyler Technologies during the second quarter valued at about $116,831,000. Deutsche Bank AG purchased a new stake in Tyler Technologies during the 2nd quarter worth approximately $88,645,000. Principal Financial Group Inc. boosted its stake in Tyler Technologies by 20.1% during the 1st quarter. Principal Financial Group Inc. now owns 1,745,625 shares of the technology company’s stock valued at $597,681,000 after acquiring an additional 291,564 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Tyler Technologies in the second quarter worth about $72,426,000. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Weiss Ratings upgraded shares of Tyler Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 22nd. Needham & Company LLC increased their price objective on shares of Tyler Technologies from $400.00 to $500.00 and gave the stock a “buy” rating in a report on Tuesday, October 27th. BTIG Research lifted their price objective on shares of Tyler Technologies from $400.00 to $430.00 and gave the company a “buy” rating in a research report on Friday, October 30th. UBS Group set a $395.00 target price on shares of Tyler Technologies in a research note on Saturday, August 1st. Finally, Guggenheim initiated coverage on shares of Tyler Technologies in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $440.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $440.88.

Insider Activity

In other Tyler Technologies news, COO Jeffrey Puckett sold 8,500 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $356.44, for a total transaction of $3,029,740.00. Following the completion of the sale, the chief operating officer directly owned 7,784 shares of the company’s stock, valued at approximately $2,774,528.96. This represents a 52.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO H. Moore, Jr. sold 10,000 shares of Tyler Technologies stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $393.17, for a total transaction of $3,931,700.00. Following the transaction, the chief executive officer owned 100,392 shares in the company, valued at approximately $39,471,122.64. The trade was a 9.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 27,750 shares of company stock worth $10,409,748. Corporate insiders own 1.10% of the company’s stock.

Tyler Technologies Stock Performance

TYL opened at $404.60 on Wednesday. The business has a 50 day moving average price of $353.93 and a two-hundred day moving average price of $337.07. Tyler Technologies, Inc. has a 1-year low of $270.71 and a 1-year high of $481.57. The company has a market capitalization of $16.09 billion, a price-to-earnings ratio of 50.96, a price-to-earnings-growth ratio of 2.66 and a beta of 0.74. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.33 and a quick ratio of 1.33.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, October 28th. The technology company reported $3.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.48 by $0.04. The firm had revenue of $647.57 million for the quarter, compared to analyst estimates of $651.38 million. Tyler Technologies had a return on equity of 12.21% and a net margin of 13.51%. Tyler Technologies’s revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.91 earnings per share. Research analysts predict that Tyler Technologies, Inc. will post 10.13 EPS for the current fiscal year.

About Tyler Technologies

Tyler Technologies, Inc provides integrated software and technology services to public-sector organizations. Its customers include municipalities, counties, states, courts, school districts, public safety agencies, and other government entities. The company’s solutions are designed to help public organizations manage operations, improve service delivery, and engage with residents and constituents.

Tyler’s product portfolio includes enterprise resource planning and financial management software, property tax and appraisal systems, court and justice solutions, public safety and emergency communications platforms, permitting and licensing tools, and software for schools and elections.