CIBC Asset Management Inc Boosts Stock Position in Tyler Technologies, Inc. (NYSE:TYL)

CIBC Asset Management Inc grew its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 8.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,211 shares of the technology company’s stock after buying an additional 501 shares during the quarter. CIBC Asset Management Inc’s holdings in Tyler Technologies were worth $3,625,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. ING Groep NV boosted its stake in Tyler Technologies by 700.4% during the 3rd quarter. ING Groep NV now owns 5,707 shares of the technology company’s stock valued at $3,331,000 after acquiring an additional 4,994 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Tyler Technologies by 2.3% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,377 shares of the technology company’s stock worth $804,000 after purchasing an additional 31 shares during the last quarter. Metis Global Partners LLC lifted its position in shares of Tyler Technologies by 4.1% during the third quarter. Metis Global Partners LLC now owns 1,695 shares of the technology company’s stock worth $989,000 after purchasing an additional 66 shares during the last quarter. KBC Group NV grew its stake in Tyler Technologies by 30.7% in the third quarter. KBC Group NV now owns 15,540 shares of the technology company’s stock worth $9,071,000 after purchasing an additional 3,646 shares in the last quarter. Finally, Parametrica Management Ltd bought a new stake in Tyler Technologies in the third quarter valued at about $284,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. BTIG Research lifted their target price on Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Oppenheimer boosted their target price on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Robert W. Baird raised their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Evercore ISI raised shares of Tyler Technologies to a “hold” rating in a report on Friday, July 26th. Finally, Needham & Company LLC increased their price objective on shares of Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $642.62.

Insider Buying and Selling

In other Tyler Technologies news, Director Glenn A. Carter sold 3,350 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $582.57, for a total value of $1,951,609.50. Following the sale, the director now directly owns 2,654 shares in the company, valued at approximately $1,546,140.78. The trade was a 55.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John S. Marr, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $578.94, for a total transaction of $2,894,700.00. Following the transaction, the insider now owns 6,983 shares of the company’s stock, valued at approximately $4,042,738.02. This trade represents a 41.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,600 shares of company stock valued at $19,307,295 over the last quarter. Corporate insiders own 2.20% of the company’s stock.

Tyler Technologies Trading Up 0.7 %

NYSE:TYL opened at $601.19 on Tuesday. The stock has a market cap of $25.73 billion, a price-to-earnings ratio of 109.71, a PEG ratio of 5.39 and a beta of 0.77. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21. Tyler Technologies, Inc. has a 1 year low of $397.80 and a 1 year high of $631.43. The business has a fifty day moving average of $593.78 and a 200-day moving average of $547.67.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.43 by $0.09. The firm had revenue of $543.34 million for the quarter, compared to analysts’ expectations of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. Tyler Technologies’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company earned $1.66 EPS. Equities analysts predict that Tyler Technologies, Inc. will post 7.39 earnings per share 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.