US Bancorp DE Has $11.53 Million Stake in Tyler Technologies, Inc. (NYSE:TYL)

Key Points

• US Bancorp DE increased its stake in Tyler Technologies by 10.8%, owning 19,823 shares worth approximately $11.5 million as of the latest SEC filing.
• A number of analysts have revised their price targets for Tyler Technologies, with Barclays raising it to $715 and Robert W. Baird decreasing it to $700, but the consensus remains a Moderate Buy rating.
• Insider selling has occurred, with John S. Marr, Jr. selling 4,000 shares valued at $2.27 million, representing a significant reduction in ownership by 36.42%.

US Bancorp DE increased its position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 10.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,823 shares of the technology company's stock after acquiring an additional 1,925 shares during the quarter. US Bancorp DE's holdings in Tyler Technologies were worth $11,525,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC raised its position in shares of Tyler Technologies by 2.3% during the 4th quarter. Integrated Wealth Concepts LLC now owns 786 shares of the technology company's stock worth $453,000 after buying an additional 18 shares in the last quarter. AdvisorNet Financial Inc raised its position in shares of Tyler Technologies by 7.0% during the 1st quarter. AdvisorNet Financial Inc now owns 291 shares of the technology company's stock worth $169,000 after buying an additional 19 shares in the last quarter. Leelyn Smith LLC raised its holdings in shares of Tyler Technologies by 0.9% in the 1st quarter. Leelyn Smith LLC now owns 2,122 shares of the technology company's stock worth $1,234,000 after purchasing an additional 19 shares in the last quarter. Benjamin Edwards Inc. raised its holdings in shares of Tyler Technologies by 1.5% in the 4th quarter. Benjamin Edwards Inc. now owns 1,526 shares of the technology company's stock worth $880,000 after purchasing an additional 22 shares in the last quarter. Finally, MV Capital Management Inc. raised its holdings in shares of Tyler Technologies by 42.9% in the 1st quarter. MV Capital Management Inc. now owns 80 shares of the technology company's stock worth $47,000 after purchasing an additional 24 shares in the last quarter. Institutional investors and hedge funds own 93.30% of the company's stock.

Analyst Ratings Changes

TYL has been the topic of a number of research reports. Barclays boosted their target price on shares of Tyler Technologies from $695.00 to $715.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Piper Sandler dropped their target price 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. Wall Street Zen downgraded shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. DA Davidson lifted their target price on shares of Tyler Technologies from $570.00 to $585.00 and gave the stock a "neutral" rating in a research report on Tuesday. Finally, Cantor Fitzgerald began coverage on shares of Tyler Technologies in a research report on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $688.27.

Insider Buying and Selling

In other news, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $573.60, for a total value of $215,100.00. Following the completion of the sale, the insider owned 247 shares of the company's stock, valued at approximately $141,679.20. The trade was a 60.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO H Lynn Moore, Jr. sold 5,250 shares of the business's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $580.77, for a total transaction of $3,049,042.50. Following the completion of the sale, the chief executive officer directly owned 81,775 shares of the company's stock, valued at approximately $47,492,466.75. The trade was a 6.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,385 shares of company stock valued at $18,025,522 in the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Tyler Technologies Trading Up 1.0%

Shares of NYSE TYL traded up $6.21 during midday trading on Tuesday, reaching $609.20. The company's stock had a trading volume of 381,728 shares, compared to its average volume of 377,722. The stock has a market capitalization of $26.35 billion, a price-to-earnings ratio of 87.03, a PEG ratio of 4.67 and a beta of 0.85. Tyler Technologies, Inc. has a fifty-two week low of $513.52 and a fifty-two week high of $661.31. The stock has a 50 day simple moving average of $575.19 and a 200-day simple moving average of $578.90.

Tyler Technologies (NYSE:TYL - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.91 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 10.34%. The firm had revenue of $584.01 million during the quarter, compared to analysts' expectations of $587.59 million. During the same period in the previous year, the business posted $2.40 earnings per share. The company's revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, equities analysts anticipate that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

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.