Handelsbanken Fonder AB Buys 55,800 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Handelsbanken Fonder AB boosted its position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 28.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 254,851 shares of the technology company's stock after buying an additional 55,800 shares during the quarter. Tyler Technologies makes up about 0.6% of Handelsbanken Fonder AB's holdings, making the stock its 26th largest position. Handelsbanken Fonder AB owned about 0.59% of Tyler Technologies worth $148,168,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in TYL. Retirement Wealth Solutions LLC bought a new stake in shares of Tyler Technologies in the first quarter valued at approximately $26,000. Larson Financial Group LLC raised its holdings in Tyler Technologies by 221.4% during the 4th quarter. Larson Financial Group LLC now owns 45 shares of the technology company's stock valued at $26,000 after acquiring an additional 31 shares during the period. Sierra Ocean LLC purchased a new stake in shares of Tyler Technologies during the fourth quarter worth $32,000. Brown Brothers Harriman & Co. lifted its position in shares of Tyler Technologies by 300.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company's stock worth $32,000 after acquiring an additional 42 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Tyler Technologies in the fourth quarter worth $40,000. 93.30% of the stock is currently owned by institutional investors.

Tyler Technologies Price Performance

Shares of TYL stock traded up $7.07 during trading hours on Tuesday, hitting $587.24. 259,008 shares of the company's stock were exchanged, compared to its average volume of 264,168. The company has a market capitalization of $25.32 billion, a PE ratio of 96.90, a PEG ratio of 4.93 and a beta of 0.84. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies, Inc. has a 12-month low of $458.50 and a 12-month high of $661.31. The business's 50 day simple moving average is $560.70 and its 200-day simple moving average is $585.54.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The technology company reported $2.78 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 company had revenue of $562.43 million for the quarter, compared to analysts' expectations of $556.45 million. During the same quarter last year, the company earned $2.20 EPS. The firm's revenue was up 10.3% compared to the same quarter last year. On average, equities research analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Insider Activity at Tyler Technologies

In related news, CFO Brian K. Miller sold 1,033 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $557.45, for a total value of $575,845.85. Following the sale, the chief financial officer now directly owns 13,028 shares of the company's stock, valued at $7,262,458.60. This trade represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel M. Pope sold 365 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $550.00, for a total value of $200,750.00. Following the transaction, the director now owns 2,853 shares in the company, valued at approximately $1,569,150. This represents a 11.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,806 shares of company stock worth $10,092,030 in the last ninety days. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TYL has been the topic of several recent analyst reports. Barclays lowered their target price on shares of Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Wells Fargo & Company lowered their price objective on Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Truist Financial restated a "buy" rating and set a $775.00 target price (up from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Piper Sandler dropped their price target on Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Finally, The Goldman Sachs Group upped their price objective on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Tyler Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $680.50.

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.