Prudential PLC Makes New $204,000 Investment in Tyler Technologies, Inc. (NYSE:TYL)

Prudential PLC bought a new stake in shares of Tyler Technologies, Inc. (NYSE:TYL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 406 shares of the technology company’s stock, valued at approximately $204,000.

Several other large investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in Tyler Technologies during the fourth quarter valued at $459,691,000. Swedbank AB purchased a new stake in shares of Tyler Technologies during the 2nd quarter worth about $251,390,000. APG Asset Management US Inc. acquired a new stake in shares of Tyler Technologies during the 4th quarter valued at about $57,493,000. Janus Henderson Group PLC increased its stake in shares of Tyler Technologies by 15.3% in the 1st quarter. Janus Henderson Group PLC now owns 532,935 shares of the technology company’s stock valued at $226,501,000 after purchasing an additional 70,801 shares in the last quarter. Finally, Quantum Capital Management LLC NJ increased its stake in shares of Tyler Technologies by 179.4% in the 1st quarter. Quantum Capital Management LLC NJ now owns 107,760 shares of the technology company’s stock valued at $45,799,000 after purchasing an additional 69,189 shares in the last quarter. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Tyler Technologies Stock Down 0.2 %

TYL stock opened at $581.96 on Friday. The company has a market cap of $24.83 billion, a price-to-earnings ratio of 131.67, a PEG ratio of 5.42 and a beta of 0.78. The firm has a 50-day moving average of $562.64 and a two-hundred day moving average of $491.58. Tyler Technologies, Inc. has a 12 month low of $361.16 and a 12 month high of $598.93. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.19.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.40 EPS for the quarter, beating the consensus estimate of $2.34 by $0.06. The firm had revenue of $540.98 million during the quarter, compared to analysts’ expectations of $541.01 million. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.53 earnings per share. As a group, analysts forecast that Tyler Technologies, Inc. will post 7.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

TYL has been the topic of several research analyst reports. BTIG Research raised their price objective on Tyler Technologies from $550.00 to $630.00 and gave the company a “buy” rating in a report on Friday, July 26th. Piper Sandler boosted their price target on shares of Tyler Technologies from $529.00 to $625.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. DA Davidson upped their price objective on shares of Tyler Technologies from $456.00 to $525.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Loop Capital lifted their target price on shares of Tyler Technologies from $485.00 to $530.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Finally, The Goldman Sachs Group restated a “buy” rating and set a $627.00 price target on shares of Tyler Technologies in a research report on Friday. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $582.31.

Insiders Place Their Bets

In other news, Director Daniel M. Pope sold 275 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $578.26, for a total transaction of $159,021.50. Following the transaction, the director now owns 3,218 shares of the company’s stock, valued at approximately $1,860,840.68. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Tyler Technologies news, insider John S. Marr, Jr. sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $578.94, for a total transaction of $2,894,700.00. Following the completion of the sale, the insider now owns 6,983 shares of the company’s stock, valued at $4,042,738.02. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Daniel M. Pope sold 275 shares of Tyler Technologies stock in a transaction on Monday, July 29th. The shares were sold at an average price of $578.26, for a total value of $159,021.50. Following the completion of the sale, the director now owns 3,218 shares in the company, valued at approximately $1,860,840.68. The disclosure for this sale can be found here. Insiders sold 24,375 shares of company stock valued at $14,166,639 in the last three months. 2.20% of the stock is currently owned by insiders.

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.