Skandinaviska Enskilda Banken AB publ Buys 449 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Key Points

• Skandinaviska Enskilda Banken AB increased its stake in Tyler Technologies, Inc. by 0.7%, owning a total of 68,377 shares valued at approximately $39.75 million.
• Several institutional investors raised their positions in Tyler Technologies, with a notable increase by GAMMA Investing LLC of over 57,694.7% in the first quarter.
• Wall Street analysts have mixed views on Tyler Technologies, with a consensus rating of "Moderate Buy" and a price target averaging $680.50.

Skandinaviska Enskilda Banken AB publ lifted its stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 0.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 68,377 shares of the technology company's stock after acquiring an additional 449 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned approximately 0.16% of Tyler Technologies worth $39,754,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of TYL. Geode Capital Management LLC increased its position in shares of Tyler Technologies by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 1,136,734 shares of the technology company's stock worth $654,406,000 after purchasing an additional 27,826 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Tyler Technologies by 6.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 998,927 shares of the technology company's stock valued at $580,766,000 after buying an additional 59,554 shares in the last quarter. Franklin Resources Inc. increased its holdings in Tyler Technologies by 7.9% during the fourth quarter. Franklin Resources Inc. now owns 984,615 shares of the technology company's stock worth $567,768,000 after buying an additional 71,869 shares during the last quarter. Norges Bank acquired a new position in Tyler Technologies during the fourth quarter worth $528,465,000. Finally, GAMMA Investing LLC lifted its stake in Tyler Technologies by 57,694.7% in the first quarter. GAMMA Investing LLC now owns 878,480 shares of the technology company's stock valued at $510,739,000 after acquiring an additional 876,960 shares during the last quarter. Institutional investors own 93.30% of the company's stock.

Tyler Technologies Trading Down 0.8%

NYSE TYL traded down $4.40 during midday trading on Friday, hitting $555.52. The company had a trading volume of 424,851 shares, compared to its average volume of 270,467. The firm has a 50-day moving average price of $574.26 and a 200-day moving average price of $578.47. The company has a market capitalization of $23.95 billion, a PE ratio of 83.66, a P/E/G ratio of 4.35 and a beta of 0.84. Tyler Technologies, Inc. has a twelve month low of $513.52 and a twelve month high of $661.31.

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, beating analysts' consensus estimates 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 return on equity of 10.29% and a net margin of 13.23%. Tyler Technologies's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.20 earnings per share. On average, equities analysts anticipate that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Insider Activity

In other Tyler Technologies news, Director Brenda A. Cline sold 2,500 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were 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 directly owned 2,519 shares in the company, valued at $1,454,495.79. The trade was a 49.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Brian K. Miller sold 3,333 shares of the firm's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $568.46, for a total value of $1,894,677.18. Following the completion of the sale, the chief financial officer directly owned 11,231 shares in the company, valued at approximately $6,384,374.26. This represents a 22.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,500 shares of company stock valued at $15,177,230 over the last quarter. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on TYL. Wells Fargo & Company reduced their price target on Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Robert W. Baird reduced their target price 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. DA Davidson decreased their target price on Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. Cantor Fitzgerald assumed coverage on Tyler Technologies in a research note on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 price target on the stock. Finally, Piper Sandler cut their price target on Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $680.50.

About Tyler Technologies

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.