Principal Financial Group Inc. Reduces Stock Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Principal Financial Group Inc. trimmed its stake in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 1.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,291,812 shares of the technology company's stock after selling 18,915 shares during the period. Principal Financial Group Inc. owned approximately 3.02% of Tyler Technologies worth $754,057,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TYL. Independence Bank of Kentucky bought a new position in shares of Tyler Technologies in the 2nd quarter worth approximately $25,000. Covestor Ltd grew its position in shares of Tyler Technologies by 153.6% during the 1st quarter. Covestor Ltd now owns 71 shares of the technology company's stock valued at $30,000 after acquiring an additional 43 shares during the period. Blue Trust Inc. increased its stake in shares of Tyler Technologies by 329.4% in the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company's stock worth $37,000 after purchasing an additional 56 shares in the last quarter. Lynx Investment Advisory bought a new position in Tyler Technologies in the 2nd quarter worth $38,000. Finally, Larson Financial Group LLC raised its holdings in Tyler Technologies by 675.0% in the 1st quarter. Larson Financial Group LLC now owns 93 shares of the technology company's stock worth $40,000 after purchasing an additional 81 shares during the period. Institutional investors own 93.30% of the company's stock.

Insider Buying and Selling

In related news, CFO Brian K. Miller sold 2,500 shares of the company's stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $586.97, for a total transaction of $1,467,425.00. Following the transaction, the chief financial officer now directly owns 11,950 shares in the company, valued at approximately $7,014,291.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Brian K. Miller sold 2,500 shares of the firm's stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $586.97, for a total value of $1,467,425.00. Following the transaction, the chief financial officer now owns 11,950 shares of the company's stock, valued at $7,014,291.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of the company's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $576.62, for a total transaction of $2,883,100.00. Following the completion of the transaction, the chief executive officer now owns 75,000 shares in the company, valued at $43,246,500. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,850 shares of company stock worth $12,151,735 over the last three months. 1.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on TYL shares. JMP Securities upped their price target on Tyler Technologies from $580.00 to $700.00 and gave the stock a "market outperform" rating in a research report on Friday, October 25th. Barclays increased their target price on shares of Tyler Technologies from $700.00 to $705.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. StockNews.com downgraded shares of Tyler Technologies from a "buy" rating to a "hold" rating in a report on Monday. DA Davidson upped their price target on shares of Tyler Technologies from $525.00 to $550.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Finally, The Goldman Sachs Group restated a "buy" rating and set a $627.00 target price on shares of Tyler Technologies in a research note on Friday, September 13th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $642.62.

Tyler Technologies Price Performance

TYL stock traded up $11.82 during trading on Thursday, hitting $615.02. 200,140 shares of the company's stock traded hands, compared to its average volume of 228,577. Tyler Technologies, Inc. has a 52 week low of $397.80 and a 52 week high of $631.43. The stock has a market capitalization of $26.32 billion, a price-to-earnings ratio of 110.07, a P/E/G ratio of 5.42 and a beta of 0.77. The business has a fifty day simple moving average of $589.67 and a 200 day simple moving average of $538.62. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21.

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

Tyler Technologies Company 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.