NFJ Investment Group LLC Has $5.47 Million Stake in Tyler Technologies, Inc. (NYSE:TYL)

NFJ Investment Group LLC cut its position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 42.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,362 shares of the technology company's stock after selling 6,890 shares during the quarter. NFJ Investment Group LLC's holdings in Tyler Technologies were worth $5,465,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in shares of Tyler Technologies during the third quarter worth about $27,000. Independence Bank of Kentucky acquired a new stake in Tyler Technologies in the second quarter valued at $25,000. Blue Trust Inc. raised its holdings in Tyler Technologies by 329.4% in the second quarter. Blue Trust Inc. now owns 73 shares of the technology company's stock valued at $37,000 after acquiring an additional 56 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Tyler Technologies in the second quarter valued at $61,000. Finally, Massmutual Trust Co. FSB ADV raised its holdings in Tyler Technologies by 51.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 124 shares of the technology company's stock valued at $62,000 after acquiring an additional 42 shares in the last quarter. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TYL. Piper Sandler upped their price target on shares of Tyler Technologies from $625.00 to $701.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Needham & Company LLC upped their price target on shares of Tyler Technologies from $600.00 to $700.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Oppenheimer upped their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an "outperform" rating in a report on Friday, October 25th. Robert W. Baird upped their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an "outperform" rating in a report on Friday, October 25th. Finally, Truist Financial reaffirmed a "buy" rating and issued a $685.00 price target (up from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Tyler Technologies presently has an average rating of "Moderate Buy" and an average price target of $642.62.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, insider John S. Marr, Jr. sold 12,000 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the completion of the sale, the insider now directly owns 6,983 shares of the company's stock, valued at approximately $4,285,187.78. This represents a 63.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian K. Miller sold 3,000 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $602.72, for a total transaction of $1,808,160.00. Following the sale, the chief financial officer now directly owns 11,950 shares of the company's stock, valued at $7,202,504. This represents a 20.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 40,350 shares of company stock valued at $24,361,172. 1.50% of the stock is owned by insiders.

Tyler Technologies Price Performance

TYL traded up $10.75 on Wednesday, reaching $633.60. The company had a trading volume of 107,991 shares, compared to its average volume of 234,258. The company has a fifty day moving average of $601.74 and a 200-day moving average of $559.18. The company has a market capitalization of $27.12 billion, a P/E ratio of 115.41, a PEG ratio of 5.66 and a beta of 0.76. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies, Inc. has a one year low of $397.80 and a one year high of $637.53.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.43 by $0.09. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The firm had revenue of $543.34 million during the quarter, compared to analyst estimates of $547.34 million. During the same quarter in the prior year, the firm posted $1.66 EPS. Tyler Technologies's revenue was up 9.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Tyler Technologies, Inc. will post 7.36 earnings per share for the current year.

Tyler Technologies 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.