Tyler Technologies, Inc. (NYSE:TYL) Shares Sold by NFJ Investment Group LLC

NFJ Investment Group LLC lessened its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 42.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,362 shares of the technology company’s stock after selling 6,890 shares during the quarter. NFJ Investment Group LLC’s holdings in Tyler Technologies were worth $5,465,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Investment Management Corp of Ontario raised its stake in shares of Tyler Technologies by 55.2% in the 3rd quarter. Investment Management Corp of Ontario now owns 1,405 shares of the technology company’s stock worth $820,000 after buying an additional 500 shares in the last quarter. Hilltop Holdings Inc. purchased a new stake in shares of Tyler Technologies in the third quarter valued at $646,000. Centiva Capital LP acquired a new stake in Tyler Technologies during the third quarter valued at $887,000. Benjamin Edwards Inc. lifted its position in shares of Tyler Technologies by 271.4% in the third quarter. Benjamin Edwards Inc. now owns 1,504 shares of the technology company’s stock worth $878,000 after buying an additional 1,099 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Tyler Technologies during the 3rd quarter worth $1,824,000. Institutional investors own 93.30% of the company’s stock.

Insider Activity

In related news, CEO H Lynn Moore, Jr. sold 3,250 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $631.41, for a total transaction of $2,052,082.50. Following the sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at approximately $47,355,750. This trade represents a 4.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Brian K. Miller sold 3,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $602.72, for a total value of $1,808,160.00. Following the completion of the transaction, the chief financial officer now directly owns 11,950 shares of the company’s stock, valued at approximately $7,202,504. The trade was a 20.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,350 shares of company stock valued at $24,361,172 in the last ninety days. 1.50% of the stock is owned by insiders.

Tyler Technologies Stock Performance

Shares of Tyler Technologies stock opened at $622.62 on Wednesday. The firm has a fifty day moving average of $601.74 and a two-hundred day moving average of $559.18. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market capitalization of $26.65 billion, a price-to-earnings ratio of 113.62, a PEG ratio of 5.66 and a beta of 0.76. Tyler Technologies, Inc. has a 52 week low of $397.80 and a 52 week high of $637.53.

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on TYL shares. Piper Sandler boosted their target price on shares of Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Truist Financial restated a “buy” rating and set a $685.00 target price (up previously from $600.00) on shares of Tyler Technologies in a research note on Friday, October 25th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $627.00 target price on shares of Tyler Technologies in a report on Friday, September 13th. Robert W. Baird raised their price objective on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Finally, JMP Securities boosted their price target on Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a research note on Friday, October 25th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $642.62.

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.