Allstate Corp Buys Shares of 1,238 Tyler Technologies, Inc. (NYSE:TYL)

Allstate Corp bought a new position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,238 shares of the technology company's stock, valued at approximately $714,000.

A number of other large investors have also made changes to their positions in TYL. Vanguard Group Inc. boosted its holdings in shares of Tyler Technologies by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 5,310,401 shares of the technology company's stock worth $3,062,190,000 after buying an additional 62,420 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Tyler Technologies by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,108,908 shares of the technology company's stock worth $645,585,000 after acquiring an additional 24,284 shares during the last quarter. Norges Bank purchased a new position in shares of Tyler Technologies during the 4th quarter worth $528,465,000. Franklin Resources Inc. grew its position in shares of Tyler Technologies by 2.0% during the 3rd quarter. Franklin Resources Inc. now owns 912,746 shares of the technology company's stock valued at $547,354,000 after acquiring an additional 17,943 shares during the period. Finally, Van ECK Associates Corp increased its stake in shares of Tyler Technologies by 1,991.8% in the 4th quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company's stock worth $317,486,000 after purchasing an additional 524,259 shares in the last quarter. 93.30% of the stock is currently owned by institutional investors.

Insider Activity

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,514 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the sale, the chief executive officer now directly owns 75,734 shares of the company's stock, valued at $46,772,561.06. The trade was a 7.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brian K. Miller sold 1,550 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $613.58, for a total value of $951,049.00. Following the sale, the chief financial officer now owns 14,026 shares in the company, valued at approximately $8,606,073.08. This trade represents a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,064 shares of company stock worth $8,688,030. 2.20% of the stock is currently owned by corporate insiders.

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Wall Street Analyst Weigh In

TYL has been the topic of several analyst reports. Truist Financial reiterated a "buy" rating and set a $775.00 target price (up from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $615.00 price objective (down from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. Needham & Company LLC reissued a "buy" rating and issued a $700.00 target price on shares of Tyler Technologies in a report on Tuesday, January 21st. Piper Sandler raised their target price on shares of Tyler Technologies from $701.00 to $747.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. Finally, StockNews.com upgraded shares of Tyler Technologies from a "hold" rating to a "buy" rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $676.25.

Tyler Technologies Price Performance

Shares of TYL traded down $30.28 during midday trading on Friday, hitting $539.40. 475,644 shares of the company traded hands, compared to its average volume of 251,072. The stock has a market cap of $23.25 billion, a price-to-earnings ratio of 89.01, a PEG ratio of 4.93 and a beta of 0.84. The firm has a 50 day moving average of $598.37 and a 200-day moving average of $597.21. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. Tyler Technologies, Inc. has a 52 week low of $397.80 and a 52 week high of $661.31.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 EPS for the quarter, missing analysts' consensus estimates of $2.44 by ($0.57). Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. On average, analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Tyler Technologies Profile

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.