Principal Financial Group Inc. Cuts Stock Position in Tyler Technologies, Inc. (NYSE:TYL)

Principal Financial Group Inc. lowered its position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,277,441 shares of the technology company's stock after selling 14,371 shares during the quarter. Principal Financial Group Inc. owned about 2.98% of Tyler Technologies worth $736,624,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TYL. Exchange Traded Concepts LLC purchased a new stake in shares of Tyler Technologies in the third quarter valued at $270,000. Creative Planning increased its stake in Tyler Technologies by 2.9% in the 3rd quarter. Creative Planning now owns 24,051 shares of the technology company's stock worth $14,039,000 after buying an additional 686 shares during the period. Vontobel Holding Ltd. increased its stake in Tyler Technologies by 3.9% in the 3rd quarter. Vontobel Holding Ltd. now owns 1,214 shares of the technology company's stock worth $709,000 after buying an additional 46 shares during the period. Bleakley Financial Group LLC increased its stake in Tyler Technologies by 2.6% in the 3rd quarter. Bleakley Financial Group LLC now owns 2,123 shares of the technology company's stock worth $1,239,000 after buying an additional 54 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Tyler Technologies by 12.9% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,384 shares of the technology company's stock worth $2,559,000 after buying an additional 502 shares during the period. Hedge funds and other institutional investors own 93.30% of the company's stock.

Insiders Place Their Bets

In other news, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $633.55, for a total transaction of $3,801,300.00. Following the completion of the transaction, the insider now directly owns 6,983 shares of the company's stock, valued at $4,424,079.65. The trade was a 46.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian K. Miller sold 6,752 shares of Tyler Technologies stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $613.75, for a total transaction of $4,144,040.00. Following the transaction, the chief financial officer now directly owns 11,918 shares of the company's stock, valued at approximately $7,314,672.50. This trade represents a 36.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,502 shares of company stock valued at $18,941,368. 2.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TYL. Truist Financial reaffirmed a "buy" rating and issued a $775.00 price target (up previously from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $615.00 price target (down previously from $670.00) on shares of Tyler Technologies in a research note on Tuesday, January 7th. Robert W. Baird increased their target price on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. Barclays increased their target price on shares of 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 reiterated a "neutral" rating and set a $575.00 target price 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 assigned a buy rating to the company. According to MarketBeat, Tyler Technologies has a consensus rating of "Moderate Buy" and an average target price of $676.25.

Tyler Technologies Stock Performance

Shares of Tyler Technologies stock traded down $16.56 during midday trading on Thursday, hitting $628.12. The company had a trading volume of 249,171 shares, compared to its average volume of 245,045. The stock has a market cap of $26.88 billion, a price-to-earnings ratio of 103.65, a PEG ratio of 5.01 and a beta of 0.78. 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 company has a fifty day simple moving average of $597.45 and a 200 day simple moving average of $596.01. Tyler Technologies, Inc. has a 12-month low of $397.80 and a 12-month high of $661.31.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. As a group, analysts predict that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

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.