Franklin Resources Inc. Boosts Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Franklin Resources Inc. boosted its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 7.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 984,615 shares of the technology company's stock after acquiring an additional 71,869 shares during the quarter. Franklin Resources Inc. owned 2.30% of Tyler Technologies worth $567,768,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of Tyler Technologies during the fourth quarter worth about $528,465,000. Van ECK Associates Corp increased its position in Tyler Technologies by 1,991.8% during 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 during the period. Raymond James Financial Inc. acquired a new stake in Tyler Technologies during the 4th quarter valued at approximately $159,947,000. JPMorgan Chase & Co. raised its holdings in 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 purchasing an additional 275,511 shares during the last quarter. Finally, Seilern Investment Management Ltd acquired a new position in shares of Tyler Technologies in the 4th quarter worth approximately $105,549,000. Institutional investors own 93.30% of the company's stock.

Tyler Technologies Stock Down 5.3 %

Shares of NYSE TYL traded down $30.28 during mid-day trading on Friday, reaching $539.40. 475,644 shares of the company's stock traded hands, compared to its average volume of 251,072. 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 business has a 50-day simple moving average of $598.37 and a 200 day simple moving average of $597.21. The stock has a market cap of $23.25 billion, a P/E ratio of 89.01, a PEG ratio of 4.93 and a beta of 0.84. Tyler Technologies, Inc. has a 1-year low of $397.80 and a 1-year high of $661.31.

Remove Ads

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 (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%. On average, analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Insider Activity at Tyler Technologies

In other news, insider John S. Marr, Jr. sold 6,000 shares of the 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 completion of the sale, the insider now owns 6,983 shares in the company, valued at $4,322,477. This represents a 46.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following 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. In the last three months, insiders sold 14,064 shares of company stock valued at $8,688,030. 2.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TYL. Needham & Company LLC reissued a "buy" rating and set a $700.00 target price on shares of Tyler Technologies in a research note on Tuesday, January 21st. StockNews.com raised Tyler Technologies from a "hold" rating to a "buy" rating in a research report on Thursday. Wells Fargo & Company restated an "equal weight" rating and set a $615.00 target price (down previously from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. Barclays lifted their target price on Tyler Technologies from $705.00 to $715.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Finally, DA Davidson restated a "neutral" rating and set a $575.00 price target on shares of Tyler Technologies in a report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $676.25.

About Tyler Technologies

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.