Federated Hermes Inc. Boosts Stake in Tyler Technologies, Inc. (NYSE:TYL)

Federated Hermes Inc. boosted its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 3.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 218,574 shares of the technology company’s stock after buying an additional 6,368 shares during the quarter. Federated Hermes Inc.’s holdings in Tyler Technologies were worth $126,039,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Larson Financial Group LLC lifted its position in shares of Tyler Technologies by 221.4% during the 4th quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock valued at $26,000 after buying an additional 31 shares in the last quarter. Sierra Ocean LLC bought a new stake in Tyler Technologies during the 4th quarter worth approximately $32,000. Brown Brothers Harriman & Co. lifted its holdings in Tyler Technologies by 300.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock valued at $32,000 after purchasing an additional 42 shares in the last quarter. OFI Invest Asset Management bought a new position in shares of Tyler Technologies in the fourth quarter worth approximately $41,000. Finally, Smithfield Trust Co boosted its position in shares of Tyler Technologies by 55.6% in the fourth 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. Institutional investors own 93.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TYL. Truist Financial restated a “buy” rating and set a $775.00 target price (up previously from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. StockNews.com upgraded Tyler Technologies from a “hold” rating to a “buy” rating in a research report on Thursday. DA Davidson reaffirmed a “neutral” rating and issued a $575.00 price objective on shares of Tyler Technologies in a research note on Thursday, January 30th. Barclays lifted their target price on Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Finally, The Goldman Sachs Group upped their price target on Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $676.25.

Insider Activity at Tyler Technologies

In related news, insider John S. Marr, Jr. sold 6,000 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the sale, the insider now owns 6,983 shares in the company, valued at approximately $4,322,477. This represents a 46.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the completion of the sale, the chief executive officer now directly owns 75,734 shares in the company, valued at approximately $46,772,561.06. This represents a 7.92 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,064 shares of company stock valued at $8,688,030. Insiders own 2.20% of the company’s stock.

Tyler Technologies Stock Down 5.3 %

Shares of TYL opened at $539.40 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21. The stock has a market capitalization of $23.25 billion, a price-to-earnings ratio of 89.01, a price-to-earnings-growth ratio of 4.93 and a beta of 0.84. Tyler Technologies, Inc. has a 1 year low of $397.80 and a 1 year high of $661.31. The business’s 50 day simple moving average is $598.37 and its 200-day simple moving average is $597.21.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share (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, equities analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal 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.