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National Bank of Canada FI Purchases 12,256 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Tyler Technologies logo with Computer and Technology background

Key Points

  • National Bank of Canada FI increased its stake in Tyler Technologies by 61.2% in the first quarter, owning 32,294 shares valued at $18.78 million.
  • Insider selling activity included a transaction where Director Brenda A. Cline sold 2,500 shares, resulting in a 49.81% decrease in her ownership.
  • Research analysts have mixed views on Tyler Technologies, with target prices ranging from $585.00 to $750.00 and an overall average rating of "Moderate Buy."
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National Bank of Canada FI boosted its stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 61.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,294 shares of the technology company's stock after purchasing an additional 12,256 shares during the period. National Bank of Canada FI owned about 0.07% of Tyler Technologies worth $18,775,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Citigroup Inc. boosted its holdings in shares of Tyler Technologies by 12.5% during the 1st quarter. Citigroup Inc. now owns 67,576 shares of the technology company's stock valued at $39,288,000 after acquiring an additional 7,535 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Tyler Technologies by 13.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 77,405 shares of the technology company's stock valued at $45,002,000 after purchasing an additional 8,893 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Tyler Technologies by 5.6% during the first quarter. Deutsche Bank AG now owns 169,853 shares of the technology company's stock valued at $98,751,000 after purchasing an additional 8,977 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Tyler Technologies by 3.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 303,076 shares of the technology company's stock worth $176,205,000 after purchasing an additional 11,288 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. acquired a new position in shares of Tyler Technologies in the first quarter valued at approximately $704,000. Institutional investors and hedge funds own 93.30% of the company's stock.

Wall Street Analysts Forecast Growth

TYL has been the topic of a number of research reports. Needham & Company LLC reissued a "buy" rating and set a $750.00 target price on shares of Tyler Technologies in a report on Tuesday, May 13th. Cantor Fitzgerald started coverage on Tyler Technologies in a report on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 price objective for the company. Wells Fargo & Company lowered their target price on Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Robert W. Baird decreased their price target on Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Finally, DA Davidson set a $585.00 price target on Tyler Technologies and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $688.27.

View Our Latest Report on TYL

Tyler Technologies Price Performance

Shares of Tyler Technologies stock traded down $19.58 on Tuesday, hitting $564.62. 341,294 shares of the company's stock traded hands, compared to its average volume of 387,879. Tyler Technologies, Inc. has a one year low of $513.52 and a one year high of $661.31. The company has a fifty day moving average of $577.11 and a two-hundred day moving average of $579.10. The company has a market capitalization of $24.43 billion, a price-to-earnings ratio of 80.66, a price-to-earnings-growth ratio of 4.49 and a beta of 0.85.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The technology company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.13. Tyler Technologies had a return on equity of 10.34% and a net margin of 13.66%. The firm had revenue of $584.01 million for the quarter, compared to analyst estimates of $587.59 million. During the same period in the previous year, the firm earned $2.40 earnings per share. The company's revenue was up 10.2% compared to the same quarter last year. Equities research analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Insider Transactions at Tyler Technologies

In other Tyler Technologies news, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $573.60, for a total value of $215,100.00. Following the transaction, the insider directly owned 247 shares of the company's stock, valued at approximately $141,679.20. The trade was a 60.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 5,250 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $580.77, for a total value of $3,049,042.50. Following the completion of the transaction, the chief executive officer directly owned 81,775 shares in the company, valued at approximately $47,492,466.75. This trade represents a 6.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,352 shares of company stock valued at $14,655,376. 1.10% of the stock is owned by insiders.

Tyler Technologies Profile

(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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Institutional Ownership by Quarter for Tyler Technologies (NYSE:TYL)

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