KLP Kapitalforvaltning AS Raises Holdings in Tyler Technologies, Inc. $TYL

Key Points

• KLP Kapitalforvaltning AS has increased its holdings in Tyler Technologies by 55.8%, now owning approximately 0.05% of the company valued at nearly $14 million.
• Insider trading activity included sales by CEO H Lynn Moore, Jr., who sold 5,250 shares for over $3 million, resulting in a 6.03% decrease in his shareholding.
• Equities analysts remain optimistic, with Barclays raising the target price for Tyler Technologies from $695 to $715, while maintaining an "overweight" rating.

KLP Kapitalforvaltning AS grew its holdings in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 55.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,450 shares of the technology company's stock after purchasing an additional 8,400 shares during the period. KLP Kapitalforvaltning AS owned approximately 0.05% of Tyler Technologies worth $13,902,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. HighPoint Advisor Group LLC lifted its stake in shares of Tyler Technologies by 10.9% in the 1st quarter. HighPoint Advisor Group LLC now owns 711 shares of the technology company's stock valued at $380,000 after purchasing an additional 70 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Tyler Technologies by 12.6% in the 1st quarter. Exchange Traded Concepts LLC now owns 501 shares of the technology company's stock valued at $291,000 after purchasing an additional 56 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Tyler Technologies by 61.2% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,747 shares of the technology company's stock valued at $5,778,000 after purchasing an additional 3,699 shares during the last quarter. Argent Capital Management LLC lifted its stake in Tyler Technologies by 37.4% during the 2nd quarter. Argent Capital Management LLC now owns 102,830 shares of the technology company's stock worth $60,962,000 after acquiring an additional 27,996 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in Tyler Technologies by 0.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,133 shares of the technology company's stock worth $2,984,000 after acquiring an additional 31 shares in the last quarter. Institutional investors and hedge funds own 93.30% of the company's stock.

Insider Activity

In other news, insider John S. Marr, Jr. sold 4,250 shares of the stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $555.53, for a total value of $2,361,002.50. Following the transaction, the insider owned 6,983 shares in the company, valued at approximately $3,879,265.99. This represents a 37.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO H Lynn Moore, Jr. sold 5,250 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $588.89, for a total value of $3,091,672.50. Following the completion of the transaction, the chief executive officer owned 81,775 shares in the company, valued at approximately $48,156,479.75. The trade was a 6.03% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,500 shares of company stock worth $11,148,043. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. UBS Group reissued an "overweight" rating on shares of Tyler Technologies in a research note on Wednesday. Weiss Ratings reissued a "hold (c+)" rating on shares of Tyler Technologies in a research note on Saturday, September 27th. Barclays increased their target price on Tyler Technologies from $695.00 to $715.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Finally, DA Davidson set a $585.00 target price on Tyler Technologies and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Nine equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $688.27.

Tyler Technologies Price Performance

TYL stock opened at $518.01 on Thursday. The firm has a market capitalization of $22.41 billion, a P/E ratio of 74.00, a P/E/G ratio of 3.73 and a beta of 0.89. The business's 50-day moving average is $551.94 and its two-hundred day moving average is $561.96. Tyler Technologies, Inc. has a 1 year low of $483.56 and a 1 year high of $661.31.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The technology company reported $2.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.78 by $0.13. The company had revenue of $584.01 million for the quarter, compared to analyst estimates of $587.59 million. Tyler Technologies had a return on equity of 10.34% and a net margin of 13.66%.Tyler Technologies's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.40 EPS. Tyler Technologies has set its FY 2025 guidance at 11.200-11.500 EPS. On average, analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Tyler Technologies Company 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.

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