Ensign Peak Advisors Inc increased its position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 9.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,410 shares of the technology company's stock after acquiring an additional 1,700 shares during the quarter. Ensign Peak Advisors Inc's holdings in Tyler Technologies were worth $11,193,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. Ethic Inc. raised its stake in shares of Tyler Technologies by 1.3% during the 4th quarter. Ethic Inc. now owns 4,234 shares of the technology company's stock worth $2,441,000 after acquiring an additional 54 shares in the last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of Tyler Technologies by 59.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 32,555 shares of the technology company's stock worth $18,773,000 after acquiring an additional 12,138 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Tyler Technologies by 49.0% during the 4th quarter. Deutsche Bank AG now owns 160,876 shares of the technology company's stock worth $92,768,000 after acquiring an additional 52,936 shares in the last quarter. EP Wealth Advisors LLC raised its stake in shares of Tyler Technologies by 268.5% during the 4th quarter. EP Wealth Advisors LLC now owns 1,861 shares of the technology company's stock worth $1,073,000 after acquiring an additional 1,356 shares in the last quarter. Finally, Concentric Capital Strategies LP bought a new position in shares of Tyler Technologies during the 4th quarter worth approximately $11,434,000. Institutional investors own 93.30% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the stock. Piper Sandler cut their price target on shares of Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Robert W. Baird cut their price target on shares of Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Truist Financial restated a "buy" rating and set a $775.00 price target (up previously from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. DA Davidson cut their price target on shares of Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Finally, The Goldman Sachs Group upped their price target on shares of Tyler Technologies from $660.00 to $728.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $674.67.
Read Our Latest Research Report on TYL
Tyler Technologies Stock Performance
Shares of NYSE:TYL traded up $4.13 during midday trading on Friday, reaching $576.86. The company's stock had a trading volume of 182,465 shares, compared to its average volume of 259,804. The stock has a fifty day moving average of $560.99 and a 200 day moving average of $589.97. Tyler Technologies, Inc. has a twelve month low of $458.50 and a twelve month high of $661.31. The firm has a market capitalization of $24.88 billion, a PE ratio of 95.19, a P/E/G ratio of 4.93 and a beta of 0.88. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18.
Tyler Technologies (NYSE:TYL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.56 by $0.22. Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. The firm had revenue of $562.43 million for the quarter, compared to the consensus estimate of $556.45 million. During the same period in the prior year, the firm posted $2.20 earnings per share. The firm's quarterly revenue was up 10.3% compared to the same quarter last year. On average, equities analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.
Insider Buying and Selling at Tyler Technologies
In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 6,983 shares of the company's stock, valued at $4,322,477. This represents a 46.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the completion of the sale, the chief executive officer now owns 75,734 shares of the company's stock, valued at $46,772,561.06. This trade represents a 7.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,462 shares of company stock valued at $12,258,926 over the last ninety days. Corporate insiders own 1.10% of the company's stock.
Tyler Technologies Profile
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Free Report)
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.
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