Caisse DE Depot ET Placement DU Quebec Invests $27.49 Million in Tyler Technologies, Inc. (NYSE:TYL)

Caisse DE Depot ET Placement DU Quebec purchased a new stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 47,669 shares of the technology company's stock, valued at approximately $27,488,000. Caisse DE Depot ET Placement DU Quebec owned approximately 0.11% of Tyler Technologies at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TYL. Larson Financial Group LLC raised its holdings in shares of Tyler Technologies by 221.4% in the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company's stock worth $26,000 after acquiring an additional 31 shares during the last quarter. Sierra Ocean LLC purchased a new stake in shares of Tyler Technologies during the fourth quarter worth about $32,000. Brown Brothers Harriman & Co. raised its position in shares of Tyler Technologies by 300.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company's stock valued at $32,000 after buying an additional 42 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new position in shares of Tyler Technologies during the fourth quarter valued at approximately $40,000. Finally, OFI Invest Asset Management acquired a new stake in Tyler Technologies during the fourth quarter worth approximately $41,000. 93.30% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO H Lynn Moore, Jr. sold 6,514 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was 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 directly owns 75,734 shares of the company's stock, valued at $46,772,561.06. The trade was a 7.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Brian K. Miller sold 1,550 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $613.58, for a total value of $951,049.00. Following the transaction, the chief financial officer now directly owns 14,026 shares in the company, valued at approximately $8,606,073.08. This represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,429 shares of company stock valued at $8,888,780 in the last ninety days. Corporate insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. The Goldman Sachs Group increased their target price on Tyler Technologies from $660.00 to $728.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Wells Fargo & Company reduced their target price on Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Truist Financial reaffirmed a "buy" rating and issued a $775.00 price objective (up from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. Needham & Company LLC reissued a "buy" rating and set a $750.00 target price on shares of Tyler Technologies in a research report on Thursday, April 24th. Finally, StockNews.com cut shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Tyler Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $674.67.

Tyler Technologies Stock Up 1.0 %

Shares of NYSE TYL traded up $5.38 during midday trading on Wednesday, reaching $558.05. 252,806 shares of the company's stock were exchanged, compared to its average volume of 281,968. The stock has a market capitalization of $24.07 billion, a PE ratio of 92.09, a price-to-earnings-growth ratio of 4.93 and a beta of 0.88. Tyler Technologies, Inc. has a 52-week low of $458.50 and a 52-week high of $661.31. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. The business's fifty day moving average price is $566.45 and its two-hundred day moving average price is $591.47.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.56 by $0.22. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. The company had revenue of $562.43 million for the quarter, compared to analyst estimates of $556.45 million. During the same period in the prior year, the company posted $2.20 EPS. Tyler Technologies's quarterly revenue was up 10.3% on a year-over-year basis. Analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS 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.