Icon Wealth Advisors LLC Boosts Stock Position in Tyler Technologies, Inc. (NYSE:TYL)

Icon Wealth Advisors LLC raised its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 151.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,799 shares of the technology company’s stock after acquiring an additional 2,286 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Tyler Technologies were worth $2,218,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Ashton Thomas Securities LLC bought a new stake in shares of Tyler Technologies during the third quarter valued at approximately $27,000. Independence Bank of Kentucky purchased a new position in shares of Tyler Technologies in the 2nd quarter valued at $25,000. Covestor Ltd raised its position in shares of Tyler Technologies by 153.6% in the 1st quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after acquiring an additional 43 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Tyler Technologies by 329.4% during the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after purchasing an additional 56 shares during the last quarter. Finally, Lynx Investment Advisory bought a new stake in Tyler Technologies during the second quarter valued at about $38,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Insider Activity at Tyler Technologies

In other news, CEO H Lynn Moore, Jr. sold 6,250 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $605.82, for a total transaction of $3,786,375.00. Following the completion of the transaction, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at $45,436,500. The trade was a 7.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian K. Miller sold 2,500 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $624.41, for a total transaction of $1,561,025.00. Following the completion of the transaction, the chief financial officer now owns 11,950 shares of the company’s stock, valued at approximately $7,461,699.50. This represents a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,600 shares of company stock worth $16,412,595 over the last three months. Company insiders own 2.20% of the company’s stock.

Tyler Technologies Trading Up 2.0 %

Shares of NYSE:TYL opened at $609.09 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies, Inc. has a 52-week low of $397.80 and a 52-week high of $631.43. The stock has a market cap of $26.07 billion, a price-to-earnings ratio of 111.15, a PEG ratio of 5.41 and a beta of 0.77. The business has a 50-day moving average price of $594.68 and a 200-day moving average price of $550.24.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.09. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The company had revenue of $543.34 million for the quarter, compared to the consensus estimate of $547.34 million. Tyler Technologies’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.66 EPS. Equities analysts predict that Tyler Technologies, Inc. will post 7.36 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Barclays boosted 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. JMP Securities increased their target price on shares of Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a research report on Friday, October 25th. Piper Sandler lifted their price target on shares of Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Oppenheimer increased their price objective on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, Needham & Company LLC boosted their target price on Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $642.62.

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.