Tyler Technologies, Inc. (NYSE:TYL) Shares Purchased by Prudential PLC

Prudential PLC raised its position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 186.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,162 shares of the technology company's stock after purchasing an additional 756 shares during the quarter. Prudential PLC's holdings in Tyler Technologies were worth $670,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Point72 Asset Management L.P. acquired a new position in shares of Tyler Technologies during the 3rd quarter valued at $876,000. Quarry LP acquired a new position in shares of Tyler Technologies during the third quarter worth about $78,000. Quantinno Capital Management LP boosted its position in shares of Tyler Technologies by 40.8% in the third quarter. Quantinno Capital Management LP now owns 1,378 shares of the technology company's stock worth $804,000 after buying an additional 399 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Tyler Technologies in the third quarter worth about $494,000. Finally, Wellington Management Group LLP grew its stake in shares of Tyler Technologies by 8.1% in the third quarter. Wellington Management Group LLP now owns 150,475 shares of the technology company's stock valued at $87,835,000 after buying an additional 11,235 shares in the last quarter. 93.30% of the stock is owned by institutional investors and hedge funds.

Tyler Technologies Stock Performance

NYSE:TYL traded up $10.83 during trading hours on Friday, reaching $568.42. 209,332 shares of the stock were exchanged, compared to its average volume of 253,686. Tyler Technologies, Inc. has a 52 week low of $397.80 and a 52 week high of $661.31. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $24.50 billion, a P/E ratio of 93.80, a P/E/G ratio of 4.93 and a beta of 0.84. The firm has a 50 day simple moving average of $590.08 and a 200-day simple moving average of $595.60.

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Tyler Technologies (NYSE:TYL - Get Free Report) last announced 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 return on equity of 10.15% and a net margin of 12.30%. As a group, sell-side analysts forecast that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. StockNews.com cut Tyler Technologies from a "buy" rating to a "hold" rating in a report on Friday. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $615.00 price target (down from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. Piper Sandler lifted their price target on shares of Tyler Technologies from $701.00 to $747.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. Barclays upped their price objective on shares of Tyler Technologies from $705.00 to $715.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. Finally, DA Davidson reaffirmed a "neutral" rating and set a $575.00 target price on shares of Tyler Technologies in a research report on Thursday, January 30th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $676.25.

Insider Activity

In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,000 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were 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 of the company's stock, valued at $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 SEC, which is available at this link. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total value of $4,022,981.26. Following the transaction, the chief executive officer now directly owns 75,734 shares of the company's stock, valued at $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. In the last three months, insiders sold 14,064 shares of company stock valued at $8,688,030. Company insiders own 2.20% of the company's stock.

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.