Federated Hermes Inc. Buys 6,368 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Federated Hermes Inc. lifted its stake in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 218,574 shares of the technology company's stock after purchasing an additional 6,368 shares during the period. Federated Hermes Inc. owned 0.51% of Tyler Technologies worth $126,039,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Norges Bank bought a new position in Tyler Technologies during the fourth quarter worth about $528,465,000. Van ECK Associates Corp lifted 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 buying an additional 524,259 shares in the last quarter. Raymond James Financial Inc. bought a new position in Tyler Technologies in the 4th quarter worth approximately $159,947,000. JPMorgan Chase & Co. grew its stake in Tyler Technologies by 148.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company's stock valued at $269,369,000 after buying an additional 275,511 shares in the last quarter. Finally, Seilern Investment Management Ltd bought a new stake in Tyler Technologies during the 4th quarter valued at $105,549,000. Institutional investors own 93.30% of the company's stock.

Tyler Technologies Price Performance

NYSE:TYL traded up $6.66 during mid-day trading on Friday, reaching $564.25. The stock had a trading volume of 79,388 shares, compared to its average volume of 252,923. Tyler Technologies, Inc. has a one year low of $397.80 and a one year high of $661.31. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. The firm has a 50 day moving average price of $590.89 and a two-hundred day moving average price of $595.57. The stock has a market capitalization of $24.32 billion, a P/E ratio of 93.22, a P/E/G ratio of 4.93 and a beta of 0.84.

Remove Ads

Tyler Technologies (NYSE:TYL - Get Free Report) last released its earnings results on Wednesday, February 12th. The technology company reported $1.87 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. As a group, analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TYL. Piper Sandler lifted their price target on Tyler Technologies from $701.00 to $747.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. Barclays lifted their target price on Tyler Technologies from $705.00 to $715.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Truist Financial reissued a "buy" rating and issued a $775.00 price target (up from $685.00) on shares of Tyler Technologies in a report on Friday, February 14th. Needham & Company LLC reissued a "buy" rating and set a $700.00 price objective on shares of Tyler Technologies in a research note on Tuesday, January 21st. Finally, Wells Fargo & Company restated an "equal weight" rating and issued a $615.00 target price (down from $670.00) on shares of Tyler Technologies in a research note on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, Tyler Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price of $676.25.

Insider Transactions at Tyler Technologies

In related news, insider John S. Marr, Jr. sold 6,000 shares of the company's 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 sale, the insider now directly owns 6,983 shares in the company, valued at $4,322,477. This represents a 46.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the stock in a transaction on Wednesday, February 26th. The shares were 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,064 shares of company stock worth $8,688,030. Company insiders own 2.20% of the company's stock.

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.