Royal Bank of Canada Increases Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Royal Bank of Canada raised its position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 15.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 95,016 shares of the technology company's stock after acquiring an additional 12,686 shares during the period. Royal Bank of Canada owned approximately 0.22% of Tyler Technologies worth $54,791,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC lifted its stake in shares of Tyler Technologies by 221.4% in the 4th 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 period. Sierra Ocean LLC acquired a new stake in shares of Tyler Technologies in the 4th quarter worth $32,000. Brown Brothers Harriman & Co. lifted its stake in shares of Tyler Technologies by 300.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company's stock worth $32,000 after acquiring an additional 42 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in shares of Tyler Technologies in the fourth quarter valued at about $40,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Tyler Technologies in the fourth quarter valued at about $41,000. Institutional investors and hedge funds own 93.30% of the company's stock.

Analysts Set New Price Targets

TYL has been the subject of a number of research analyst reports. Truist Financial reaffirmed a "buy" rating and issued a $775.00 target price (up from $685.00) on shares of Tyler Technologies in a report on Friday, February 14th. Robert W. Baird reduced their price target on shares of Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. The Goldman Sachs Group lifted their price target on shares of Tyler Technologies from $660.00 to $728.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. Wall Street Zen downgraded shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday. Finally, Barclays reduced their price target on shares of Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, Tyler Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $687.82.

Tyler Technologies Price Performance

Shares of Tyler Technologies stock traded down $0.18 during trading on Friday, hitting $567.24. 181,225 shares of the company were exchanged, compared to its average volume of 261,592. 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, Inc. has a fifty-two week low of $458.50 and a fifty-two week high of $661.31. The stock has a market capitalization of $24.46 billion, a price-to-earnings ratio of 93.60, a P/E/G ratio of 4.93 and a beta of 0.88. The firm has a 50 day moving average price of $561.52 and a 200 day moving average price of $588.38.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.22. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. The firm had revenue of $562.43 million during the quarter, compared to the consensus estimate of $556.45 million. During the same period in the previous year, the firm posted $2.20 EPS. The company'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 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tyler Technologies news, Director Brenda A. Cline sold 2,500 shares of Tyler Technologies stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $577.41, for a total value of $1,443,525.00. Following the completion of the sale, the director now directly owns 2,519 shares of the company's stock, valued at approximately $1,454,495.79. The trade was a 49.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, February 26th. The stock was 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 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 disclosure for this sale can be found here. Insiders sold 22,962 shares of company stock worth $13,702,451 in the last ninety days. Insiders own 1.10% of the company's stock.

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.