Canada Pension Plan Investment Board Has $2.29 Million Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Canada Pension Plan Investment Board trimmed its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 37.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 4,547 shares of the technology company’s stock after selling 2,758 shares during the period. Canada Pension Plan Investment Board’s holdings in Tyler Technologies were worth $2,286,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TYL. Vanguard Group Inc. raised its position in shares of Tyler Technologies by 1.1% in the first quarter. Vanguard Group Inc. now owns 5,022,053 shares of the technology company’s stock valued at $2,134,423,000 after purchasing an additional 53,005 shares during the period. Principal Financial Group Inc. raised its holdings in Tyler Technologies by 3.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,309,715 shares of the technology company’s stock worth $556,642,000 after acquiring an additional 41,485 shares during the period. Van ECK Associates Corp boosted its holdings in Tyler Technologies by 6.3% during the first quarter. Van ECK Associates Corp now owns 922,942 shares of the technology company’s stock valued at $392,259,000 after acquiring an additional 54,926 shares during the period. Janus Henderson Group PLC grew its position in shares of Tyler Technologies by 15.3% in the first 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 during the last quarter. Finally, Swedbank AB bought a new position in shares of Tyler Technologies in the second quarter worth about $251,390,000. 93.30% of the stock is currently owned by institutional investors.

Tyler Technologies Stock Performance

NYSE TYL opened at $578.78 on Friday. Tyler Technologies, Inc. has a 1-year low of $361.16 and a 1-year high of $598.93. The company has a 50 day moving average of $575.17 and a 200-day moving average of $501.99. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.19. The firm has a market cap of $24.57 billion, a price-to-earnings ratio of 130.95, a PEG ratio of 5.40 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates 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 was up 7.3% on a year-over-year basis. During the same period last year, the firm posted $1.53 EPS. On average, equities analysts forecast that Tyler Technologies, Inc. will post 7.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Wells Fargo & Company raised their target price on Tyler Technologies from $580.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Piper Sandler boosted their target price on shares of Tyler Technologies from $529.00 to $625.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. The Goldman Sachs Group reissued a “buy” rating and issued a $627.00 price target on shares of Tyler Technologies in a report on Friday, September 13th. Truist Financial reaffirmed a “buy” rating and set a $600.00 price objective (up previously from $560.00) on shares of Tyler Technologies in a research report on Friday, July 26th. Finally, Needham & Company LLC reissued a “buy” rating and set a $600.00 target price on shares of Tyler Technologies in a research report on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $582.31.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 5,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $576.62, for a total transaction of $2,883,100.00. Following the sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at approximately $43,246,500. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO H Lynn Moore, Jr. sold 6,250 shares of Tyler Technologies stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $576.49, for a total value of $3,603,062.50. Following the completion of the sale, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at approximately $43,236,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $576.62, for a total value of $2,883,100.00. Following the transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at approximately $43,246,500. The disclosure for this sale can be found here. Insiders sold 29,375 shares of company stock valued at $17,049,739 over the last ninety days. 2.20% of the stock is owned by insiders.

Tyler Technologies 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.