Tyler Technologies, Inc. (NYSE:TYL) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its stake in Tyler Technologies, Inc. (NYSE:TYL) by 10.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,369 shares of the technology company’s stock after buying an additional 993 shares during the period. PNC Financial Services Group Inc.’s holdings in Tyler Technologies were worth $6,053,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of TYL. Independence Bank of Kentucky acquired a new position in Tyler Technologies during the second quarter worth $25,000. Ashton Thomas Securities LLC acquired a new position in shares of Tyler Technologies during the 3rd quarter worth $27,000. Covestor Ltd raised its stake in shares of Tyler Technologies by 153.6% during the 1st quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after buying an additional 43 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Tyler Technologies by 329.4% in the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after buying an additional 56 shares in the last quarter. Finally, Lynx Investment Advisory acquired a new stake in Tyler Technologies in the 2nd quarter valued at about $38,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Tyler Technologies Trading Up 2.0 %

NYSE TYL opened at $609.09 on Friday. The company has a market cap of $26.07 billion, a P/E ratio of 111.15, a P/E/G ratio of 5.41 and a beta of 0.77. Tyler Technologies, Inc. has a 12 month low of $397.80 and a 12 month high of $631.43. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. The company has a 50-day moving average of $595.22 and a 200-day moving average of $551.16.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.43 by $0.09. The firm had revenue of $543.34 million during the quarter, compared to analyst estimates of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. Tyler Technologies’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.66 earnings per share. As a group, equities analysts predict that Tyler Technologies, Inc. will post 7.36 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. JMP Securities lifted their target price on shares of Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a research report on Friday, October 25th. Robert W. Baird upped their target price on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. DA Davidson raised their price target on Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Truist Financial restated a “buy” rating and issued a $685.00 price objective (up from $600.00) on shares of Tyler Technologies in a research report on Friday, October 25th. Finally, Piper Sandler lifted their price objective on Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Tyler Technologies has an average rating of “Moderate Buy” and an average price target of $642.62.

Insider Buying and Selling

In other news, CEO H Lynn Moore, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was 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 $43,246,500. This trade represents a 6.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brian K. Miller sold 2,500 shares of Tyler Technologies stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $586.97, for a total value of $1,467,425.00. Following the completion of the transaction, the chief financial officer now directly owns 11,950 shares in the company, valued at $7,014,291.50. This represents a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,600 shares of company stock valued at $16,412,595. 2.20% of the stock is currently owned by company 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.