NFJ Investment Group LLC Lowers Stake in Tyler Technologies, Inc. (NYSE:TYL)

NFJ Investment Group LLC decreased its position in Tyler Technologies, Inc. (NYSE:TYL) by 0.7% during the fourth quarter, Holdings Channel reports. The firm owned 9,300 shares of the technology company’s stock after selling 62 shares during the quarter. NFJ Investment Group LLC’s holdings in Tyler Technologies were worth $5,363,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Oak Thistle LLC increased its stake in Tyler Technologies by 213.7% during the 4th quarter. Oak Thistle LLC now owns 2,328 shares of the technology company’s stock worth $1,342,000 after buying an additional 1,586 shares during the period. Kensington Investment Counsel LLC grew its stake in shares of Tyler Technologies by 0.8% in the fourth quarter. Kensington Investment Counsel LLC now owns 2,496 shares of the technology company’s stock worth $1,439,000 after acquiring an additional 20 shares in the last quarter. Diversified Trust Co acquired a new position in shares of Tyler Technologies in the fourth quarter worth $596,000. Fiduciary Alliance LLC purchased a new stake in shares of Tyler Technologies during the fourth quarter worth $1,594,000. Finally, Barclays PLC boosted its holdings in Tyler Technologies by 2.5% in the third quarter. Barclays PLC now owns 88,296 shares of the technology company’s stock valued at $51,543,000 after purchasing an additional 2,169 shares during the period. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. StockNews.com lowered shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Friday, April 11th. Barclays dropped their price objective on shares of Tyler Technologies from $715.00 to $700.00 and set an “overweight” rating on the stock in a research report on Monday. The Goldman Sachs Group lifted their price objective on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Truist Financial reissued a “buy” rating and issued a $775.00 target price (up previously from $685.00) on shares of Tyler Technologies in a report on Friday, February 14th. Finally, Piper Sandler lifted their price target on Tyler Technologies from $701.00 to $747.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Tyler Technologies currently has an average rating of “Moderate Buy” and an average price target of $675.00.

Insider Activity

In related news, insider John S. Marr, Jr. sold 6,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 6,983 shares of the company’s stock, valued at approximately $4,322,477. The trade was a 46.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Brian K. Miller sold 1,550 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 14,026 shares of the company’s stock, valued at $8,606,073.08. This trade represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,064 shares of company stock valued at $8,688,030. Company insiders own 2.20% of the company’s stock.

Tyler Technologies Price Performance

Tyler Technologies stock opened at $569.03 on Thursday. 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 company has a market cap of $24.53 billion, a price-to-earnings ratio of 93.90, a PEG 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 firm has a 50 day moving average price of $587.73 and a 200 day moving average price of $595.26.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings data 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 return on equity of 10.15% and a net margin of 12.30%. Sell-side analysts predict that Tyler Technologies, Inc. will post 8.52 earnings per share for the current 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.