Swiss National Bank Decreases Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Swiss National Bank reduced its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 4.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,600 shares of the technology company's stock after selling 5,500 shares during the quarter. Swiss National Bank owned 0.28% of Tyler Technologies worth $69,543,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Oak Thistle LLC grew its holdings in shares of Tyler Technologies by 213.7% during the fourth quarter. Oak Thistle LLC now owns 2,328 shares of the technology company's stock valued at $1,342,000 after buying an additional 1,586 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Tyler Technologies during the third quarter worth about $569,000. Trustmark National Bank Trust Department purchased a new position in Tyler Technologies during the third quarter worth about $1,288,000. Diversified Trust Co purchased a new position in Tyler Technologies during the fourth quarter worth about $596,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Tyler Technologies by 10.6% during the third quarter. PNC Financial Services Group Inc. now owns 10,369 shares of the technology company's stock worth $6,053,000 after purchasing an additional 993 shares during the last quarter. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Tyler Technologies Stock Performance

Shares of NYSE TYL traded up $3.73 during midday trading on Wednesday, hitting $578.40. The company's stock had a trading volume of 238,583 shares, compared to its average volume of 261,373. The stock has a fifty day moving average price of $598.80 and a 200 day moving average price of $598.30. Tyler Technologies, Inc. has a one year low of $397.80 and a one year high of $661.31. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $24.88 billion, a price-to-earnings ratio of 95.44, a P/E/G ratio of 4.93 and a beta of 0.80.

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Tyler Technologies (NYSE:TYL - Get Free Report) last posted its 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 return on equity of 10.15% and a net margin of 12.30%. On average, research analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Insider Buying and Selling

In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,000 shares of the firm's 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 directly owns 6,983 shares in the company, valued at $4,322,477. This trade represents a 46.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 stock was sold at an average price of $613.58, for a total transaction of $951,049.00. Following the completion of the transaction, the chief financial officer now owns 14,026 shares of the company's stock, valued at approximately $8,606,073.08. The trade was a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,064 shares of company stock valued at $8,688,030 over the last ninety days. 2.20% of the stock is owned by insiders.

Analysts Set New Price Targets

TYL has been the topic of several analyst reports. 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. StockNews.com cut shares of Tyler Technologies from a "buy" rating to a "hold" rating in a report on Monday, February 24th. Needham & Company LLC restated a "buy" rating and set a $700.00 price target on shares of Tyler Technologies in a report on Tuesday, January 21st. The Goldman Sachs Group boosted their price target on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. Finally, Piper Sandler boosted their price target on shares of Tyler Technologies from $701.00 to $747.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Tyler Technologies currently 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.