Federated Hermes Inc. Buys 3,108 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Key Points

• Federated Hermes Inc. increased its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 1.4%, owning approximately 0.51% of the company, valued at $128.9 million.
• The stock is currently trading at $556.06, with a market capitalization of $23.98 billion and various analyst ratings, including a “Moderate Buy” consensus rating.
• Insider selling activity included Director Brenda A. Cline and CEO H Lynn Moore, Jr., who collectively sold 7,750 shares, decreasing their ownership significantly.

Federated Hermes Inc. increased its position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 1.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 221,682 shares of the technology company's stock after buying an additional 3,108 shares during the period. Federated Hermes Inc. owned 0.51% of Tyler Technologies worth $128,884,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of Tyler Technologies by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 1,136,734 shares of the technology company's stock valued at $654,406,000 after purchasing an additional 27,826 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Tyler Technologies by 6.3% during 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 purchasing an additional 59,554 shares during the period. Franklin Resources Inc. raised its holdings in shares of Tyler Technologies by 7.9% during the fourth quarter. Franklin Resources Inc. now owns 984,615 shares of the technology company's stock valued at $567,768,000 after purchasing an additional 71,869 shares during the period. GAMMA Investing LLC raised its holdings in shares of Tyler Technologies by 57,694.7% during the first quarter. GAMMA Investing LLC now owns 878,480 shares of the technology company's stock valued at $510,739,000 after purchasing an additional 876,960 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Tyler Technologies by 13.9% during the fourth quarter. Northern Trust Corp now owns 497,367 shares of the technology company's stock valued at $286,802,000 after purchasing an additional 60,654 shares during the period. 93.30% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Tyler Technologies news, insider John S. Marr, Jr. sold 4,000 shares of the company's stock in a transaction dated 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 completion of the sale, the insider directly owned 6,983 shares of the company's stock, valued at approximately $3,970,952.78. This represents a 36.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Brenda A. Cline sold 2,500 shares of the company's stock in a transaction dated 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 sale, the director directly owned 2,519 shares of the company's stock, valued at $1,454,495.79. The trade was a 49.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,135 shares of company stock worth $14,976,480 in the last ninety days. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TYL has been the topic of several research reports. DA Davidson dropped their price objective on shares of 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 set a $750.00 price objective on shares of Tyler Technologies in a report on Tuesday, May 13th. Robert W. Baird lowered their target price on shares of Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Wells Fargo & Company lowered their target price on shares of 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, Cantor Fitzgerald began coverage on shares of Tyler Technologies in a report on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 target price on the stock. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $686.91.

Tyler Technologies Stock Down 0.6%

TYL stock traded down $3.78 during trading on Friday, reaching $580.78. The stock had a trading volume of 399,540 shares, compared to its average volume of 289,866. Tyler Technologies, Inc. has a one year low of $513.52 and a one year high of $661.31. The company's 50 day moving average is $573.50 and its two-hundred day moving average is $578.30. The company has a market capitalization of $25.04 billion, a price-to-earnings ratio of 83.28, a P/E/G ratio of 4.33 and a beta of 0.84.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.78 by $0.13. Tyler Technologies had a net margin of 13.66% and a return on equity of 10.52%. The business had revenue of $584.01 million during the quarter, compared to the consensus estimate of $587.59 million. During the same period in the prior year, the firm posted $2.40 EPS. The firm's quarterly revenue was up 10.2% compared to the same quarter last year. As a group, research analysts predict that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

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.