Tyler Technologies, Inc. (NYSE:TYL) Shares Sold by Swiss National Bank

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

Other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in Tyler Technologies by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,108,908 shares of the technology company’s stock worth $645,585,000 after buying an additional 24,284 shares during the last quarter. Franklin Resources Inc. lifted its stake in Tyler Technologies by 2.0% during the third quarter. Franklin Resources Inc. now owns 912,746 shares of the technology company’s stock worth $547,354,000 after purchasing an additional 17,943 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Tyler Technologies by 4.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 904,175 shares of the technology company’s stock worth $527,785,000 after purchasing an additional 36,066 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Tyler Technologies by 1,991.8% in the fourth 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 in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Tyler Technologies by 148.2% in the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock valued at $269,369,000 after purchasing an additional 275,511 shares during the last quarter. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on TYL shares. Needham & Company LLC restated a “buy” rating and set a $700.00 price objective on shares of Tyler Technologies in a research report on Tuesday, January 21st. Piper Sandler upped their price objective on shares of Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Wells Fargo & Company reiterated 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 upped their target price on Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Finally, Truist Financial reaffirmed a “buy” rating and set a $775.00 price target (up previously from $685.00) on shares of Tyler Technologies in a research 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $676.25.

Tyler Technologies Stock Performance

NYSE:TYL opened at $563.81 on Friday. 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 firm has a market cap of $24.25 billion, a price-to-earnings ratio of 93.04, a price-to-earnings-growth ratio of 4.93 and a beta of 0.80. The firm’s fifty day moving average price is $598.55 and its 200 day moving average price is $598.36. Tyler Technologies, Inc. has a 1-year low of $397.80 and a 1-year high of $661.31.

Tyler Technologies (NYSE:TYL) last issued 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 return on equity of 10.15% and a net margin of 12.30%. On average, sell-side analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Insider Activity at Tyler Technologies

In related news, CEO H Lynn Moore, Jr. sold 6,514 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total value of $4,022,981.26. Following the completion of the sale, the chief executive officer now owns 75,734 shares in the company, valued at $46,772,561.06. This trade represents a 7.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John S. Marr, Jr. sold 6,000 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the sale, the insider now directly owns 6,983 shares in the company, valued at approximately $4,322,477. This represents a 46.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,064 shares of company stock worth $8,688,030 over the last three months. 2.20% of the stock is currently owned by corporate insiders.

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.