APG Asset Management N.V. Sells 369,646 Shares of Tyler Technologies, Inc. (NYSE:TYL)

APG Asset Management N.V. lessened its stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 32.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 786,988 shares of the technology company's stock after selling 369,646 shares during the period. Tyler Technologies makes up approximately 1.2% of APG Asset Management N.V.'s holdings, making the stock its 11th largest position. APG Asset Management N.V. owned about 1.84% of Tyler Technologies worth $438,251,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TYL. Norges Bank purchased a new stake in Tyler Technologies during the fourth quarter valued at $528,465,000. Van ECK Associates Corp grew its stake in shares of Tyler Technologies by 1,991.8% during the 4th quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company's stock valued at $317,486,000 after purchasing an additional 524,259 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Tyler Technologies during the 4th quarter valued at about $159,947,000. JPMorgan Chase & Co. lifted its stake in shares of Tyler Technologies by 148.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company's stock worth $269,369,000 after purchasing an additional 275,511 shares during the period. Finally, Seilern Investment Management Ltd purchased a new position in shares of Tyler Technologies in the fourth quarter worth approximately $105,549,000. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TYL. Barclays lifted their price target on shares of Tyler Technologies from $705.00 to $715.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. Piper Sandler upped their price target on Tyler Technologies from $701.00 to $747.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. StockNews.com cut Tyler Technologies from a "buy" rating to a "hold" rating in a research report on Friday. Truist Financial reissued a "buy" rating and issued a $775.00 target price (up from $685.00) on shares of Tyler Technologies in a report on Friday, February 14th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $700.00 price target on shares of Tyler Technologies in a report on Tuesday, January 21st. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, Tyler Technologies presently has an average rating of "Moderate Buy" and an average target price of $676.25.

Remove Ads

Insider Buying and Selling

In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the completion of the transaction, the insider now directly owns 6,983 shares of the company's stock, valued at $4,322,477. The trade was a 46.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian K. Miller sold 1,550 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $613.58, for a total transaction of $951,049.00. Following the completion of the sale, the chief financial officer now directly owns 14,026 shares in the company, valued at approximately $8,606,073.08. This represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,064 shares of company stock worth $8,688,030. Corporate insiders own 2.20% of the company's stock.

Tyler Technologies Price Performance

TYL stock traded up $10.83 during mid-day trading on Friday, hitting $568.42. The company had a trading volume of 209,332 shares, compared to its average volume of 253,846. Tyler Technologies, Inc. has a 12-month low of $397.80 and a 12-month high of $661.31. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. The company has a 50-day moving average price of $590.08 and a 200 day moving average price of $595.48. The company has a market capitalization of $24.50 billion, a price-to-earnings ratio of 93.80, a P/E/G ratio of 4.93 and a beta of 0.84.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share 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, research analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

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.