TD Asset Management Inc Buys 5,103 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Key Points

• TD Asset Management Inc increased its stake in Tyler Technologies by 3.2%, acquiring an additional 5,103 shares, bringing its total ownership to 166,110 shares valued at approximately $96.57 million.
• CEO H Lynn Moore, Jr. sold 5,250 shares of the company's stock, resulting in a 6.03% decrease in his ownership, while CFO Brian K. Miller also sold shares, contributing to a total insider sale of 26,500 shares valued at over $15 million in the last 90 days.
• Wall Street analysts have varying ratings on Tyler Technologies, with four analysts giving a "hold" rating and eight a "buy" rating, while consensus target prices range from $600 to $750.

TD Asset Management Inc grew its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 3.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 166,110 shares of the technology company's stock after buying an additional 5,103 shares during the period. TD Asset Management Inc owned 0.39% of Tyler Technologies worth $96,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Tyler Technologies in the 4th quarter worth $528,465,000. GAMMA Investing LLC raised its holdings in Tyler Technologies by 57,694.7% in the 1st 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. Marshall Wace LLP raised its holdings in Tyler Technologies by 897.6% in the 4th quarter. Marshall Wace LLP now owns 112,210 shares of the technology company's stock valued at $64,705,000 after acquiring an additional 100,962 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Tyler Technologies by 52.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 283,449 shares of the technology company's stock worth $163,448,000 after buying an additional 97,718 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Tyler Technologies by 7.9% in the 4th quarter. Franklin Resources Inc. now owns 984,615 shares of the technology company's stock valued at $567,768,000 after acquiring an additional 71,869 shares during the period. 93.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TYL shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $750.00 price target on shares of Tyler Technologies in a research note on Tuesday, May 13th. Barclays cut their price objective on shares of Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Wall Street Zen lowered shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Cantor Fitzgerald assumed coverage on shares of Tyler Technologies in a research report on Tuesday, June 3rd. They set a "neutral" rating and a $600.00 price target on the stock. Finally, Piper Sandler dropped their price target on shares of Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $685.09.

Insiders Place Their Bets

In related news, CFO Brian K. Miller sold 1,200 shares of Tyler Technologies stock in a transaction on Friday, June 13th. The shares were sold at an average price of $580.72, for a total value of $696,864.00. Following the completion of the sale, the chief financial officer owned 13,772 shares of the company's stock, valued at approximately $7,997,675.84. This trade represents a 8.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John S. Marr, Jr. sold 4,000 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $568.66, for a total value of $2,274,640.00. Following the transaction, the insider owned 6,983 shares in the company, valued at approximately $3,970,952.78. This trade represents a 36.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,500 shares of company stock valued at $15,177,230 over the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

Tyler Technologies Price Performance

TYL traded down $0.40 on Monday, hitting $556.06. 572,317 shares of the stock were exchanged, compared to its average volume of 281,433. The firm has a market capitalization of $23.98 billion, a price-to-earnings ratio of 83.74, a PEG ratio of 4.35 and a beta of 0.84. Tyler Technologies, Inc. has a 12 month low of $513.52 and a 12 month high of $661.31. The business has a 50-day moving average of $574.26 and a two-hundred day moving average of $578.52.

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.