ING Groep NV Increases Stake in Tyler Technologies, Inc. (NYSE:TYL)

ING Groep NV boosted its stake in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 700.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,707 shares of the technology company's stock after buying an additional 4,994 shares during the quarter. ING Groep NV's holdings in Tyler Technologies were worth $3,331,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in TYL. Swedbank AB bought a new stake in Tyler Technologies in the 2nd quarter valued at about $251,390,000. International Assets Investment Management LLC lifted its position in Tyler Technologies by 252,047.5% during the third quarter. International Assets Investment Management LLC now owns 307,620 shares of the technology company's stock valued at $179,564,000 after purchasing an additional 307,498 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Tyler Technologies by 15.3% during the first quarter. Janus Henderson Group PLC now owns 532,935 shares of the technology company's stock worth $226,501,000 after acquiring an additional 70,801 shares during the last quarter. Quantum Capital Management LLC NJ lifted its stake in shares of Tyler Technologies by 179.4% during the 1st quarter. Quantum Capital Management LLC NJ now owns 107,760 shares of the technology company's stock worth $45,799,000 after acquiring an additional 69,189 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Tyler Technologies by 18.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 424,982 shares of the technology company's stock valued at $180,622,000 after purchasing an additional 65,814 shares in the last quarter. 93.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TYL shares. Wells Fargo & Company upped their target price on Tyler Technologies from $580.00 to $600.00 and gave the stock an "overweight" rating in a research note on Friday, July 26th. Truist Financial reiterated a "buy" rating and set a $685.00 target price (up previously from $600.00) on shares of Tyler Technologies in a research report on Friday, October 25th. DA Davidson raised their price target on Tyler Technologies from $525.00 to $550.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Robert W. Baird increased their target price on Tyler Technologies from $625.00 to $700.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. Finally, Needham & Company LLC lifted their price objective on shares of Tyler Technologies from $600.00 to $700.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $642.62.

Insider Activity

In other news, insider John S. Marr, Jr. sold 5,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $578.94, for a total value of $2,894,700.00. Following the transaction, the insider now directly owns 6,983 shares of the company's stock, valued at $4,042,738.02. This represents a 41.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brian K. Miller sold 2,500 shares of Tyler Technologies stock in a transaction on Friday, November 8th. The shares were sold at an average price of $624.41, for a total value of $1,561,025.00. Following the completion of the transaction, the chief financial officer now directly owns 11,950 shares of the company's stock, valued at $7,461,699.50. This represents a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 32,600 shares of company stock valued at $19,307,295. Company insiders own 2.20% of the company's stock.

Tyler Technologies Trading Down 2.8 %

Shares of NYSE TYL traded down $17.18 during mid-day trading on Friday, reaching $597.10. 252,742 shares of the company's stock were exchanged, compared to its average volume of 268,664. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21. The company's 50-day moving average is $593.78 and its 200-day moving average is $547.05. The firm has a market capitalization of $25.56 billion, a price-to-earnings ratio of 108.96, a PEG ratio of 5.39 and a beta of 0.77. Tyler Technologies, Inc. has a 52-week low of $397.80 and a 52-week high of $631.43.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.09. The firm had revenue of $543.34 million during the quarter, compared to the consensus estimate of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the firm posted $1.66 EPS. Analysts expect that Tyler Technologies, Inc. will post 7.39 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.