PNC Financial Services Group Inc. Purchases 993 Shares of Tyler Technologies, Inc. (NYSE:TYL)

PNC Financial Services Group Inc. raised its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 10.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,369 shares of the technology company's stock after buying an additional 993 shares during the period. PNC Financial Services Group Inc.'s holdings in Tyler Technologies were worth $6,053,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Tyler Technologies during the third quarter worth approximately $569,000. FWG Holdings LLC boosted its holdings in Tyler Technologies by 3.1% during the third quarter. FWG Holdings LLC now owns 910 shares of the technology company's stock worth $551,000 after buying an additional 27 shares in the last quarter. Meeder Advisory Services Inc. boosted its holdings in Tyler Technologies by 15.8% during the third quarter. Meeder Advisory Services Inc. now owns 983 shares of the technology company's stock worth $574,000 after buying an additional 134 shares in the last quarter. LMR Partners LLP bought a new stake in Tyler Technologies during the third quarter worth approximately $23,383,000. Finally, Swiss National Bank boosted its holdings in Tyler Technologies by 0.7% during the third quarter. Swiss National Bank now owns 126,100 shares of the technology company's stock worth $73,607,000 after buying an additional 900 shares in the last quarter. 93.30% of the stock is currently owned by institutional investors.

Tyler Technologies Stock Performance

NYSE TYL traded up $11.88 during midday trading on Friday, hitting $609.09. The company had a trading volume of 270,390 shares, compared to its average volume of 256,248. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18. The stock has a market cap of $26.07 billion, a price-to-earnings ratio of 111.15, a P/E/G ratio of 5.41 and a beta of 0.77. The firm has a fifty day simple moving average of $595.22 and a two-hundred day simple moving average of $551.16. Tyler Technologies, Inc. has a fifty-two week low of $397.80 and a fifty-two week high of $631.43.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.09. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The business had revenue of $543.34 million for the quarter, compared to analyst estimates of $547.34 million. During the same period in the previous year, the business earned $1.66 EPS. The firm's revenue was up 9.8% on a year-over-year basis. Equities analysts forecast that Tyler Technologies, Inc. will post 7.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TYL. The Goldman Sachs Group restated a "buy" rating and set a $627.00 target price on shares of Tyler Technologies in a report on Friday, September 13th. StockNews.com lowered shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday. Oppenheimer raised their price objective on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. Truist Financial reaffirmed a "buy" rating and issued a $685.00 price objective (up previously from $600.00) on shares of Tyler Technologies in a research note on Friday, October 25th. Finally, Piper Sandler raised their price objective on shares of Tyler Technologies from $625.00 to $701.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $642.62.

Insider Buying and Selling at Tyler Technologies

In related news, CEO H Lynn Moore, Jr. sold 6,250 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $605.82, for a total transaction of $3,786,375.00. Following the completion of the sale, the chief executive officer now directly owns 75,000 shares of the company's stock, valued at $45,436,500. The trade was a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Brian K. Miller sold 2,500 shares of the business's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $624.41, for a total transaction of $1,561,025.00. Following the sale, the chief financial officer now directly owns 11,950 shares of the company's stock, valued at approximately $7,461,699.50. This trade represents a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,600 shares of company stock worth $16,412,595 over the last ninety days. Corporate insiders own 2.20% of the company's stock.

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.