DnB Asset Management AS Purchases 822 Shares of Tyler Technologies, Inc. (NYSE:TYL)

DnB Asset Management AS boosted its position in Tyler Technologies, Inc. (NYSE:TYL) by 11.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 7,702 shares of the technology company’s stock after purchasing an additional 822 shares during the period. DnB Asset Management AS’s holdings in Tyler Technologies were worth $4,441,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its holdings in shares of Tyler Technologies by 221.4% in the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock valued at $26,000 after acquiring an additional 31 shares in the last quarter. Sierra Ocean LLC bought a new position in Tyler Technologies in the 4th quarter valued at $32,000. OFI Invest Asset Management purchased a new stake in shares of Tyler Technologies during the 4th quarter valued at $41,000. Smithfield Trust Co raised its stake in shares of Tyler Technologies by 55.6% during the 4th quarter. Smithfield Trust Co now owns 84 shares of the technology company’s stock worth $48,000 after purchasing an additional 30 shares during the period. Finally, Private Trust Co. NA boosted its holdings in shares of Tyler Technologies by 51.8% in the 4th quarter. Private Trust Co. NA now owns 85 shares of the technology company’s stock worth $49,000 after buying an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Insiders Place Their Bets

In other news, insider John S. Marr, Jr. sold 6,000 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $619.00, for a total value of $3,714,000.00. Following the transaction, the insider now owns 6,983 shares of the company’s stock, valued at $4,322,477. This represents a 46.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Brian K. Miller sold 1,550 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $613.58, for a total transaction of $951,049.00. Following the sale, the chief financial officer now owns 14,026 shares in the company, valued at approximately $8,606,073.08. This trade represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,064 shares of company stock worth $8,688,030 in the last ninety days. 2.20% of the stock is currently owned by insiders.

Tyler Technologies Price Performance

TYL stock opened at $579.39 on Monday. The firm has a 50 day moving average of $599.76 and a 200-day moving average of $597.71. The firm has a market capitalization of $24.98 billion, a P/E ratio of 95.61, a price-to-earnings-growth ratio of 4.93 and a beta of 0.80. Tyler Technologies, Inc. has a 12 month low of $397.80 and a 12 month high of $661.31. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. As a group, sell-side analysts predict that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on TYL shares. Truist Financial reaffirmed a “buy” rating and issued a $775.00 price objective (up previously from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Piper Sandler increased their price objective on Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Wells Fargo & Company reissued an “equal weight” rating and issued a $615.00 target price (down from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. DA Davidson reaffirmed a “neutral” rating and set a $575.00 price target on shares of Tyler Technologies in a research report on Thursday, January 30th. Finally, StockNews.com lowered Tyler Technologies from a “buy” rating to a “hold” rating in a report on Monday, February 24th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $676.25.

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.