Mizuho Securities USA LLC grew its position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 46.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,056 shares of the technology company's stock after acquiring an additional 1,289 shares during the quarter. Mizuho Securities USA LLC's holdings in Tyler Technologies were worth $2,339,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in TYL. Geode Capital Management LLC raised its holdings 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 period. Franklin Resources Inc. boosted 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 valued at $547,354,000 after purchasing an additional 17,943 shares during the period. Van ECK Associates Corp raised its holdings 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 valued at $317,486,000 after purchasing an additional 524,259 shares in the last quarter. JPMorgan Chase & Co. raised its position 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 worth $269,369,000 after acquiring an additional 275,511 shares in the last quarter. Finally, Swedbank AB boosted its holdings in Tyler Technologies by 1.7% in the fourth quarter. Swedbank AB now owns 459,850 shares of the technology company's stock valued at $265,168,000 after purchasing an additional 7,838 shares in the last quarter. 93.30% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on TYL shares. Barclays upped their target price on Tyler Technologies from $705.00 to $715.00 and gave the company 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 Monday, February 24th. Needham & Company LLC reissued a "buy" rating and issued a $700.00 price target on shares of Tyler Technologies in a report on Tuesday, January 21st. Wells Fargo & Company restated an "equal weight" rating and issued a $615.00 price target (down from $670.00) on shares of Tyler Technologies in a research note on Tuesday, January 7th. Finally, Piper Sandler increased their price objective on Tyler Technologies from $701.00 to $747.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $676.25.
Get Our Latest Research Report on TYL
Insiders Place Their Bets
In related news, insider John S. Marr, Jr. sold 6,000 shares of the company's stock in a transaction that occurred 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 transaction, the insider now owns 6,983 shares of the company's stock, valued at approximately $4,322,477. This represents a 46.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Brian K. Miller sold 1,550 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $613.58, for a total value of $951,049.00. Following the transaction, 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. Insiders have sold 14,064 shares of company stock valued at $8,688,030 in the last ninety days. Insiders own 2.20% of the company's stock.
Tyler Technologies Price Performance
Shares of NYSE:TYL traded up $1.13 during midday trading on Thursday, hitting $578.46. 162,487 shares of the stock were exchanged, compared to its average volume of 240,611. Tyler Technologies, Inc. has a twelve month low of $397.80 and a twelve month high of $661.31. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The company has a 50 day moving average price of $599.55 and a 200-day moving average price of $597.69. The stock has a market cap of $24.94 billion, a P/E ratio of 95.46, a PEG 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 earnings per share (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%. On average, research analysts forecast that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.
About Tyler Technologies
(
Free Report)
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.
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