MADDEN SECURITIES Corp Takes Position in Tyler Technologies, Inc. (NYSE:TYL)
MADDEN SECURITIES Corp acquired a new stake in Tyler Technologies, Inc. (NYSE:TYL) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,804 shares of the technology company’s stock, valued at approximately $973,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Archer Investment Corp acquired a new position in Tyler Technologies during the 4th quarter worth approximately $33,000. Citizens Financial Group Inc RI lifted its position in Tyler Technologies by 60.6% during the 1st quarter. Citizens Financial Group Inc RI now owns 114 shares of the technology company’s stock worth $34,000 after acquiring an additional 43 shares in the last quarter. Signaturefd LLC lifted its position in Tyler Technologies by 121.9% during the 1st quarter. Signaturefd LLC now owns 213 shares of the technology company’s stock worth $63,000 after acquiring an additional 117 shares in the last quarter. Parallel Advisors LLC lifted its position in Tyler Technologies by 57.2% during the 1st quarter. Parallel Advisors LLC now owns 217 shares of the technology company’s stock worth $64,000 after acquiring an additional 79 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its position in Tyler Technologies by 67.7% during the 4th quarter. Quadrant Capital Group LLC now owns 369 shares of the technology company’s stock worth $106,000 after acquiring an additional 149 shares in the last quarter. 89.62% of the stock is currently owned by institutional investors and hedge funds.
TYL stock traded up $2.60 during trading on Tuesday, reaching $347.57. 332,692 shares of the company’s stock were exchanged, compared to its average volume of 395,213. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.01. Tyler Technologies, Inc. has a 1-year low of $218.00 and a 1-year high of $382.92. The company’s fifty day moving average price is $353.18 and its 200-day moving average price is $323.74. The firm has a market cap of $14.30 billion, a PE ratio of 83.93, a P/E/G ratio of 5.79 and a beta of 0.77.
Several research firms have issued reports on TYL. Royal Bank of Canada began coverage on Tyler Technologies in a report on Thursday, June 18th. They set an “outperform” rating and a $375.00 price objective on the stock. BTIG Research started coverage on Tyler Technologies in a report on Thursday, April 16th. They issued a “neutral” rating for the company. Zacks Investment Research downgraded Tyler Technologies from a “hold” rating to a “sell” rating in a report on Friday, May 29th. Oppenheimer reiterated a “buy” rating and issued a $300.00 price target on shares of Tyler Technologies in a report on Wednesday, April 29th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Tyler Technologies in a report on Thursday, April 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. Tyler Technologies presently has an average rating of “Hold” and a consensus price target of $320.80.
In other news, Director Luther King, Jr. sold 1,033 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $357.00, for a total value of $368,781.00. Following the completion of the sale, the director now owns 82,014 shares in the company, valued at $29,278,998. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO H Lynn Moore, Jr. sold 30,000 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $312.15, for a total value of $9,364,500.00. Following the completion of the sale, the chief executive officer now owns 98,085 shares of the company’s stock, valued at approximately $30,617,232.75. The disclosure for this sale can be found here. Insiders have sold a total of 107,311 shares of company stock valued at $37,929,019 in the last quarter. 3.60% of the stock is currently owned by insiders.
About Tyler Technologies
Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. The company operates in two segments, Enterprise Software, and Appraisal and Tax. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools.
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