KLP Kapitalforvaltning AS Acquires Shares of 15,050 Tyler Technologies, Inc. (NYSE:TYL)

KLP Kapitalforvaltning AS acquired a new stake in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 15,050 shares of the technology company's stock, valued at approximately $8,678,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TYL. Geode Capital Management LLC boosted its holdings in shares of Tyler Technologies by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,108,908 shares of the technology company's stock valued at $645,585,000 after buying an additional 24,284 shares in the last quarter. Franklin Resources Inc. grew its holdings in Tyler Technologies by 2.0% in the third quarter. Franklin Resources Inc. now owns 912,746 shares of the technology company's stock worth $547,354,000 after purchasing an additional 17,943 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Tyler Technologies by 1,991.8% during the fourth 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. JPMorgan Chase & Co. lifted its holdings in shares of Tyler Technologies by 148.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company's stock valued at $269,369,000 after purchasing an additional 275,511 shares during the last quarter. Finally, Swedbank AB boosted its position in shares of Tyler Technologies by 1.7% in the 4th quarter. Swedbank AB now owns 459,850 shares of the technology company's stock worth $265,168,000 after purchasing an additional 7,838 shares in the last quarter. Hedge funds and other institutional investors own 93.30% of the company's stock.

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Insider Buying and Selling

In related 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 completion of the sale, the chief executive officer now directly owns 75,734 shares in the company, valued at approximately $46,772,561.06. The trade was a 7.92 % 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 the SEC website. 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 value of $951,049.00. Following the completion of the transaction, the chief financial officer now directly owns 14,026 shares of the company's stock, valued at approximately $8,606,073.08. This represents a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,064 shares of company stock valued at $8,688,030. 2.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TYL shares. Wells Fargo & Company restated an "equal weight" rating and set a $615.00 price objective (down previously from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. Needham & Company LLC reiterated a "buy" rating and set a $700.00 price target on shares of Tyler Technologies in a research note on Tuesday, January 21st. Piper Sandler raised their price objective on Tyler Technologies from $701.00 to $747.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. StockNews.com lowered Tyler Technologies from a "buy" rating to a "hold" rating in a research report on Monday, February 24th. Finally, The Goldman Sachs Group raised their price target on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Tyler Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $676.25.

Tyler Technologies Price Performance

Shares of NYSE:TYL traded up $0.99 during trading on Friday, reaching $579.39. 297,612 shares of the company's stock traded hands, compared to its average volume of 248,501. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. Tyler Technologies, Inc. has a fifty-two week low of $397.80 and a fifty-two week high of $661.31. The company has a 50-day simple moving average of $599.76 and a 200-day simple moving average of $597.62. The firm has a market cap of $24.98 billion, a PE ratio of 95.61, a P/E/G ratio of 4.93 and a beta of 0.80.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its quarterly earnings data 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 predict 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.