Tyler Technologies, Inc. (NYSE:TYL) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank has increased its stake in Tyler Technologies by 10.6% during the first quarter, bringing its total ownership to approximately $22.74 million across 39,112 shares.
• Recent analyst ratings for Tyler Technologies include an upgrade to a "buy" rating from Needham & Company with a target price of $750, while Cantor Fitzgerald set a "neutral" rating with a price objective of $600.
• Insider selling activity includes notable trades with John S. Marr, Jr. selling 4,000 shares and Brenda A. Cline selling 2,500 shares, reflecting a significant decrease in their respective holdings.

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 10.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,112 shares of the technology company's stock after purchasing an additional 3,743 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.09% of Tyler Technologies worth $22,739,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC boosted its position in 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 purchasing an additional 18 shares during the period. AdvisorNet Financial Inc boosted its position in Tyler Technologies by 7.0% in the 1st quarter. AdvisorNet Financial Inc now owns 291 shares of the technology company's stock valued at $169,000 after buying an additional 19 shares during the last quarter. Leelyn Smith LLC boosted its position in Tyler Technologies by 0.9% in the 1st quarter. Leelyn Smith LLC now owns 2,122 shares of the technology company's stock valued at $1,234,000 after buying an additional 19 shares during the last quarter. Benjamin Edwards Inc. boosted its position in Tyler Technologies by 1.5% in the 4th quarter. Benjamin Edwards Inc. now owns 1,526 shares of the technology company's stock valued at $880,000 after buying an additional 22 shares during the last quarter. Finally, MV Capital Management Inc. boosted its position in Tyler Technologies by 42.9% in the 1st quarter. MV Capital Management Inc. now owns 80 shares of the technology company's stock valued at $47,000 after buying an additional 24 shares during the last quarter. 93.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Brian K. Miller sold 1,200 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $580.72, for a total transaction of $696,864.00. Following the sale, the chief financial officer owned 13,772 shares in the company, valued at $7,997,675.84. This represents a 8.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brenda A. Cline sold 2,500 shares of the firm'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 sale, the director owned 2,519 shares in the company, valued at $1,454,495.79. The trade was a 49.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,135 shares of company stock valued at $14,976,480 over the last quarter. Corporate insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TYL. Piper Sandler decreased their price objective on shares of Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Barclays upped their price objective on shares of Tyler Technologies from $695.00 to $715.00 and gave the company an "overweight" rating in a research report on Thursday. Robert W. Baird decreased their price objective on shares of Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Cantor Fitzgerald started coverage on shares of Tyler Technologies in a research report on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $750.00 price target on shares of Tyler Technologies in a research report on Tuesday, May 13th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $686.91.

Tyler Technologies Trading Down 0.3%

TYL traded down $1.97 on Friday, hitting $582.59. 284,961 shares of the company's stock were exchanged, compared to its average volume of 289,122. The firm has a market cap of $25.12 billion, a PE ratio of 83.22, a P/E/G ratio of 4.33 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. The stock has a fifty day moving average of $573.50 and a two-hundred day moving average of $578.30.

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