Abacus Wealth Partners LLC Makes New $338,000 Investment in Tyler Technologies, Inc. (NYSE:TYL)
Abacus Wealth Partners LLC has made a new investment of $338,000 in Tyler Technologies, Inc. (NYSE:TYL), acquiring 582 shares in the first quarter. Other institutional investors have also increased their stakes in the company. Tyler Technologies' stock is currently priced at $554.01, with a market cap of $23.89 billion. Analysts have mixed ratings on the stock, with a consensus price target of $685.09. Recent insider transactions include significant share sales by the CEO and CFO.
Abacus Wealth Partners LLC purchased a new position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 582 shares of the technology company's stock, valued at approximately $338,000.
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Several other institutional investors have also modified their holdings of TYL. HighPoint Advisor Group LLC boosted its holdings in Tyler Technologies by 10.9% in the first quarter. HighPoint Advisor Group LLC now owns 711 shares of the technology company's stock valued at $380,000 after purchasing an additional 70 shares during the period. Exchange Traded Concepts LLC boosted its stake in shares of Tyler Technologies by 12.6% in the 1st quarter. Exchange Traded Concepts LLC now owns 501 shares of the technology company's stock valued at $291,000 after buying an additional 56 shares during the period. Adage Capital Partners GP L.L.C. boosted its stake in shares of Tyler Technologies by 20.7% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 42,500 shares of the technology company's stock valued at $24,507,000 after buying an additional 7,300 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in shares of Tyler Technologies by 0.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,133 shares of the technology company's stock worth $2,984,000 after buying an additional 31 shares in the last quarter. Finally, CX Institutional purchased a new stake in shares of Tyler Technologies during the first quarter worth approximately $176,000. Institutional investors and hedge funds own 93.30% of the company's stock.
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Tyler Technologies Price Performance
Shares of NYSE:TYL opened at $554.01 on Thursday. Tyler Technologies, Inc. has a 12 month low of $513.52 and a 12 month high of $661.31. The firm has a market capitalization of $23.89 billion, a P/E ratio of 83.44, a P/E/G ratio of 4.31 and a beta of 0.84. The company's fifty day moving average price is $573.44 and its 200 day moving average price is $578.31.
Analysts Set New Price Targets
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A number of brokerages recently issued reports on TYL. Barclays decreased their price target 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. Wells Fargo & Company reduced 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 report on Tuesday, April 22nd. Wall Street Zen cut shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. DA Davidson dropped their target price on Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. Finally, Cantor Fitzgerald assumed coverage on Tyler Technologies in a research note on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $685.09.
View Our Latest Research Report on Tyler Technologies
Insider Transactions at Tyler Technologies
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In related news, CEO H Lynn Moore, Jr. sold 5,250 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $585.18, for a total transaction of $3,072,195.00. Following the transaction, the chief executive officer owned 81,775 shares in the company, valued at $47,853,094.50. This trade represents a 6.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brian K. Miller sold 3,333 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $568.46, for a total value of $1,894,677.18. Following the completion of the sale, the chief financial officer owned 11,231 shares of the company's stock, valued at approximately $6,384,374.26. This represents a 22.89% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,500 shares of company stock worth $15,177,230. 1.10% of the stock is owned by company insiders.
Tyler Technologies Profile
(Free Report)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.
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