Fmr LLC Increases Stock Position in Tyler Technologies, Inc. (NYSE:TYL)

Fmr LLC lifted its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 94.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,319 shares of the technology company’s stock after buying an additional 52,984 shares during the quarter. Fmr LLC owned approximately 0.26% of Tyler Technologies worth $63,812,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of TYL. Dai ichi Life Insurance Company Ltd purchased a new stake in shares of Tyler Technologies in the 3rd quarter worth approximately $7,411,000. The Manufacturers Life Insurance Company increased its holdings in shares of Tyler Technologies by 1.2% during the third quarter. The Manufacturers Life Insurance Company now owns 26,212 shares of the technology company’s stock valued at $15,300,000 after acquiring an additional 301 shares in the last quarter. Bank of Montreal Can raised its position in shares of Tyler Technologies by 2.6% in the 3rd quarter. Bank of Montreal Can now owns 37,826 shares of the technology company’s stock worth $21,845,000 after purchasing an additional 959 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Tyler Technologies in the 3rd quarter worth about $334,000. Finally, Daiwa Securities Group Inc. grew its position in Tyler Technologies by 11.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 5,282 shares of the technology company’s stock valued at $3,083,000 after purchasing an additional 561 shares during the last quarter. 93.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TYL has been the subject of several recent analyst reports. Barclays lifted their target price on shares of Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Oppenheimer upped their price objective on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. DA Davidson lifted their target price on Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Truist Financial restated a “buy” rating and issued a $685.00 price target (up previously from $600.00) on shares of Tyler Technologies in a research note on Friday, October 25th. Finally, JMP Securities increased their price objective on Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a research report on Friday, October 25th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $642.62.

Tyler Technologies Price Performance

Shares of NYSE:TYL opened at $623.15 on Friday. The firm’s 50 day moving average price is $604.80 and its 200-day moving average price is $561.11. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $26.67 billion, a PE ratio of 113.71, a price-to-earnings-growth ratio of 5.64 and a beta of 0.76. Tyler Technologies, Inc. has a twelve month low of $397.80 and a twelve month high of $638.56.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.09. The business had revenue of $543.34 million for the quarter, compared to the consensus estimate of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm earned $1.66 earnings per share. Equities research analysts expect that Tyler Technologies, Inc. will post 7.36 EPS for the current year.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, insider John S. Marr, Jr. sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $613.66, for a total value of $7,363,920.00. Following the completion of the transaction, the insider now directly owns 6,983 shares in the company, valued at $4,285,187.78. This represents a 63.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $590.98, for a total transaction of $2,954,900.00. Following the sale, the chief executive officer now owns 75,000 shares in the company, valued at $44,323,500. The trade was a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,500 shares of company stock valued at $27,790,888. Company insiders own 2.20% of the company’s stock.

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.