Tyler Technologies, Inc. (NYSE:TYL) Shares Purchased by Royal Bank of Canada

Royal Bank of Canada raised its stake in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 15.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 95,016 shares of the technology company's stock after buying an additional 12,686 shares during the period. Royal Bank of Canada owned about 0.22% of Tyler Technologies worth $54,791,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Larson Financial Group LLC grew its position in shares of 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 acquired a new stake in shares of Tyler Technologies during the 4th quarter valued at about $32,000. Brown Brothers Harriman & Co. grew its position in shares of Tyler Technologies by 300.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company's stock valued at $32,000 after acquiring an additional 42 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in Tyler Technologies in the 4th quarter worth about $40,000. Finally, OFI Invest Asset Management acquired a new stake in Tyler Technologies in the 4th quarter worth about $41,000. Hedge funds and other institutional investors own 93.30% of the company's stock.

Tyler Technologies Trading Up 1.2%

NYSE TYL traded up $6.75 on Tuesday, reaching $572.77. The stock had a trading volume of 35,347 shares, compared to its average volume of 260,716. The firm has a market capitalization of $24.70 billion, a price-to-earnings ratio of 94.64, 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, Inc. has a 12-month low of $458.50 and a 12-month high of $661.31. The stock has a fifty day moving average price of $561.29 and a two-hundred day moving average price of $587.80.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.56 by $0.22. The business had revenue of $562.43 million during the quarter, compared to the consensus estimate of $556.45 million. Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. The company's quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.20 earnings per share. As a group, sell-side analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Barclays lowered their price objective on Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. DA Davidson lowered their price objective on Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. Needham & Company LLC reiterated a "buy" rating and issued a $750.00 price objective on shares of Tyler Technologies in a report on Tuesday, May 13th. 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 report on Tuesday, April 22nd. Finally, The Goldman Sachs Group boosted their target price on Tyler Technologies from $660.00 to $728.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $687.82.

Insiders Place Their Bets

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,514 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total value of $4,022,981.26. Following the completion of the transaction, the chief executive officer now owns 75,734 shares in the company, valued at $46,772,561.06. The trade was a 7.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Brenda A. Cline sold 2,500 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $577.41, for a total transaction of $1,443,525.00. Following the completion of the transaction, the director now owns 2,519 shares of the company's stock, valued at approximately $1,454,495.79. This trade represents a 49.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,962 shares of company stock worth $13,702,451 over the last 90 days. Corporate 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.