Azimuth Capital Investment Management LLC boosted its position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,901 shares of the technology company's stock after purchasing an additional 797 shares during the period. Tyler Technologies comprises 0.8% of Azimuth Capital Investment Management LLC's holdings, making the stock its 28th largest position. Azimuth Capital Investment Management LLC owned approximately 0.09% of Tyler Technologies worth $21,855,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in 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 buying an additional 62,420 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Tyler Technologies by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 1,136,734 shares of the technology company's stock valued at $654,406,000 after purchasing an additional 27,826 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Tyler Technologies by 7.9% in the fourth quarter. Franklin Resources Inc. now owns 984,615 shares of the technology company's stock worth $567,768,000 after purchasing an additional 71,869 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Tyler Technologies by 3.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 939,373 shares of the technology company's stock worth $541,680,000 after purchasing an additional 35,198 shares during the last quarter. Finally, Norges Bank bought a new position in Tyler Technologies in the fourth quarter valued at $528,465,000. 93.30% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, CEO H Lynn Moore, Jr. sold 6,514 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brian K. Miller sold 1,550 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $613.58, for a total transaction of $951,049.00. Following the transaction, the chief financial officer now 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. Insiders sold 14,064 shares of company stock valued at $8,688,030 over the last quarter. 2.20% of the stock is owned by company insiders.
Tyler Technologies Stock Performance
Shares of TYL stock traded up $1.78 on Monday, hitting $570.32. The company's stock had a trading volume of 37,958 shares, compared to its average volume of 268,924. 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 market capitalization of $24.58 billion, a PE ratio of 94.11, a PEG ratio of 4.93 and a beta of 0.84. The stock's 50 day moving average is $590.08 and its 200-day moving average is $595.60. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35.
Tyler Technologies (NYSE:TYL - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share 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.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the company. Piper Sandler lifted their target price on Tyler Technologies from $701.00 to $747.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. The Goldman Sachs Group lifted 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. Needham & Company LLC reaffirmed a "buy" rating and issued a $700.00 target price on shares of Tyler Technologies in a report on Tuesday, January 21st. DA Davidson reiterated a "neutral" rating and set a $575.00 price target on shares of Tyler Technologies in a report on Thursday, January 30th. Finally, Truist Financial restated a "buy" rating and issued a $775.00 price objective (up previously from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, Tyler Technologies presently has an average rating of "Moderate Buy" and an average price target of $676.25.
Check Out Our Latest Report on TYL
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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