Burling Wealth Partners LLC Raises Stock Holdings in Tyler Technologies, Inc. $TYL

Burling Wealth Partners LLC raised its stake in Tyler Technologies, Inc. (NYSE:TYL) by 120.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 5,901 shares of the technology company’s stock after purchasing an additional 3,224 shares during the quarter. Burling Wealth Partners LLC’s holdings in Tyler Technologies were worth $3,087,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. DLD Asset Management LP purchased a new position in shares of Tyler Technologies during the 2nd quarter worth approximately $5,780,190,000. Vanguard Group Inc. increased its holdings in Tyler Technologies by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 5,805,036 shares of the technology company’s stock worth $3,036,963,000 after purchasing an additional 234,916 shares during the period. State Street Corp increased its stake in shares of Tyler Technologies by 4.5% during the second quarter. State Street Corp now owns 1,913,672 shares of the technology company’s stock worth $1,134,501,000 after buying an additional 81,679 shares during the period. Principal Financial Group Inc. increased its position in shares of Tyler Technologies by 11.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,410,640 shares of the technology company’s stock valued at $738,010,000 after purchasing an additional 144,612 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Tyler Technologies by 2.6% in the second quarter. Geode Capital Management LLC now owns 1,206,406 shares of the technology company’s stock valued at $713,144,000 after buying an additional 30,686 shares in the last quarter. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Tyler Technologies Price Performance

Shares of NYSE:TYL opened at $317.35 on Thursday. Tyler Technologies, Inc. has a 1-year low of $283.71 and a 1-year high of $647.11. The stock has a market cap of $13.66 billion, a P/E ratio of 44.08, a P/E/G ratio of 2.09 and a beta of 0.91. The firm has a fifty day moving average price of $414.48 and a 200 day moving average price of $480.54.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, February 11th. The technology company reported $2.64 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 during the quarter, compared to analyst estimates of $591.09 million. During the same quarter in the prior year, the firm posted $2.43 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. Sell-side analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TYL shares. Evercore reaffirmed a “positive” rating on shares of Tyler Technologies in a report on Friday, October 31st. The Goldman Sachs Group set a $420.00 price objective on shares of Tyler Technologies in a research report on Friday, February 13th. Stifel Nicolaus dropped their target price on shares of Tyler Technologies from $550.00 to $400.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. DA Davidson reiterated a “buy” rating and set a $460.00 price target on shares of Tyler Technologies in a research note on Tuesday. Finally, Oppenheimer reduced their price target on shares of Tyler Technologies from $510.00 to $450.00 and set an “outperform” rating for the company in a research report on Friday, February 13th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $467.54.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, Director Glenn A. Carter sold 500 shares of Tyler Technologies stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $458.73, for a total value of $229,365.00. Following the transaction, the director directly owned 3,172 shares in the company, valued at approximately $1,455,091.56. This trade represents a 13.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brian K. Miller sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $448.51, for a total value of $448,510.00. Following the sale, the chief financial officer owned 17,148 shares of the company’s stock, valued at $7,691,049.48. This trade represents a 5.51% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 3,500 shares of company stock valued at $1,605,605. 1.10% of the stock is owned by company 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.