Norges Bank acquired a new position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 916,455 shares of the technology company's stock, valued at approximately $528,465,000. Norges Bank owned about 2.14% of Tyler Technologies as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in TYL. Vanguard Group Inc. increased its holdings in shares of Tyler Technologies by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 5,310,401 shares of the technology company's stock valued at $3,062,190,000 after acquiring an additional 62,420 shares during the period. Geode Capital Management LLC boosted its stake in shares of Tyler Technologies by 2.2% during the third quarter. Geode Capital Management LLC now owns 1,108,908 shares of the technology company's stock worth $645,585,000 after buying an additional 24,284 shares during the period. Franklin Resources Inc. grew its holdings in shares of Tyler Technologies by 2.0% during the third quarter. Franklin Resources Inc. now owns 912,746 shares of the technology company's stock worth $547,354,000 after buying an additional 17,943 shares during the last quarter. Van ECK Associates Corp increased its position in 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 acquiring an additional 524,259 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Tyler Technologies by 1.0% during the 4th quarter. JPMorgan Chase & Co. now owns 465,866 shares of the technology company's stock valued at $268,637,000 after acquiring an additional 4,397 shares during the last quarter. Institutional investors and hedge funds own 93.30% of the company's stock.
Tyler Technologies Price Performance
NYSE:TYL traded down $2.56 during trading hours on Wednesday, reaching $581.97. 86,925 shares of the company traded hands, compared to its average volume of 248,854. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21. The firm's 50-day moving average is $599.99 and its 200-day moving average is $597.72. The stock has a market cap of $25.09 billion, a P/E ratio of 96.03, a P/E/G ratio of 4.93 and a beta of 0.80. Tyler Technologies, Inc. has a 1-year low of $397.80 and a 1-year high of $661.31.
Tyler Technologies (NYSE:TYL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 EPS 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%. Equities research analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.
Insider Activity
In related news, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $619.00, for a total value of $3,714,000.00. Following the transaction, the insider now owns 6,983 shares in the company, valued at approximately $4,322,477. This trade represents a 46.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $617.59, for a total value of $4,022,981.26. Following the completion of the transaction, the chief executive officer now owns 75,734 shares in the company, valued at approximately $46,772,561.06. This trade represents a 7.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,064 shares of company stock valued at $8,688,030 over the last 90 days. Insiders own 2.20% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on TYL shares. StockNews.com lowered Tyler Technologies from a "buy" rating to a "hold" rating in a report on Monday, February 24th. Needham & Company LLC restated a "buy" rating and issued a $700.00 target price on shares of Tyler Technologies in a research note on Tuesday, January 21st. Wells Fargo & Company reiterated an "equal weight" rating and set a $615.00 price target (down from $670.00) on shares of Tyler Technologies in a research note on Tuesday, January 7th. The Goldman Sachs Group raised their price objective on shares of Tyler Technologies from $660.00 to $728.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. Finally, Piper Sandler boosted their target price 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 equities 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, the company has a consensus rating of "Moderate Buy" and an average target price of $676.25.
View Our Latest Analysis on Tyler Technologies
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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