Handelsbanken Fonder AB Has $148.17 Million Position in Tyler Technologies, Inc. (NYSE:TYL)

Handelsbanken Fonder AB grew its position in Tyler Technologies, Inc. (NYSE:TYL) by 28.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 254,851 shares of the technology company’s stock after acquiring an additional 55,800 shares during the period. Tyler Technologies comprises about 0.6% of Handelsbanken Fonder AB’s portfolio, making the stock its 26th largest holding. Handelsbanken Fonder AB owned 0.59% of Tyler Technologies worth $148,168,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in Tyler Technologies by 148.2% during the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock worth $269,369,000 after purchasing an additional 275,511 shares during the period. Choreo LLC lifted its position in shares of Tyler Technologies by 3.9% in the fourth quarter. Choreo LLC now owns 647 shares of the technology company’s stock valued at $374,000 after buying an additional 24 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Tyler Technologies by 11.8% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 107,106 shares of the technology company’s stock worth $61,762,000 after acquiring an additional 11,317 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Tyler Technologies by 19.3% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,231 shares of the technology company’s stock worth $3,016,000 after acquiring an additional 847 shares during the last quarter. Finally, Apollon Wealth Management LLC acquired a new position in shares of Tyler Technologies during the 4th quarter worth approximately $221,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tyler Technologies

In other news, CFO Brian K. Miller sold 1,033 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $557.45, for a total value of $575,845.85. Following the sale, the chief financial officer now directly owns 13,028 shares in the company, valued at approximately $7,262,458.60. This trade represents a 7.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $573.60, for a total transaction of $215,100.00. Following the transaction, the insider now owns 247 shares of the company’s stock, valued at approximately $141,679.20. This represents a 60.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,606 shares of company stock valued at $9,398,838 over the last three months. 1.10% of the stock is owned by insiders.

Analyst Ratings Changes

TYL has been the subject of a number of research analyst reports. Piper Sandler reduced their price objective on shares of Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating for the company in a research report on Friday, April 25th. Needham & Company LLC restated a “buy” rating and set a $750.00 price objective on shares of Tyler Technologies in a report on Tuesday, May 13th. Cantor Fitzgerald assumed coverage on Tyler Technologies in a research report on Tuesday, June 3rd. They issued a “neutral” rating and a $600.00 target price on the stock. The Goldman Sachs Group lifted their price target on Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Finally, Wells Fargo & Company reduced their price target on Tyler Technologies from $640.00 to $610.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Tyler Technologies has a consensus rating of “Moderate Buy” and an average target price of $680.50.

Tyler Technologies Stock Performance

NYSE:TYL opened at $580.36 on Tuesday. The company has a market cap of $25.03 billion, a price-to-earnings ratio of 95.77, a PEG ratio of 4.93 and a beta of 0.84. Tyler Technologies, Inc. has a fifty-two week low of $458.50 and a fifty-two week high of $661.31. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. The stock has a fifty day moving average price of $560.70 and a 200-day moving average price of $585.54.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.56 by $0.22. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. The business had revenue of $562.43 million during the quarter, compared to the consensus estimate of $556.45 million. During the same quarter in the previous year, the firm earned $2.20 earnings per share. Tyler Technologies’s revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, equities analysts anticipate that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

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.