Swedbank AB Reduces Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Swedbank AB lowered its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 9.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 452,012 shares of the technology company’s stock after selling 47,988 shares during the period. Swedbank AB owned approximately 1.06% of Tyler Technologies worth $263,848,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in TYL. Independence Bank of Kentucky purchased a new stake in shares of Tyler Technologies during the second quarter valued at approximately $25,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Tyler Technologies during the fourth quarter valued at approximately $26,000. Covestor Ltd raised its stake in shares of Tyler Technologies by 153.6% during the first quarter. Covestor Ltd now owns 71 shares of the technology company’s stock valued at $30,000 after purchasing an additional 43 shares during the period. Blue Trust Inc. raised its stake in shares of Tyler Technologies by 329.4% during the second quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock valued at $37,000 after purchasing an additional 56 shares during the period. Finally, Lynx Investment Advisory purchased a new stake in shares of Tyler Technologies during the second quarter valued at approximately $38,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Tyler Technologies Stock Performance

Tyler Technologies stock traded up $2.03 during mid-day trading on Tuesday, reaching $601.72. The company’s stock had a trading volume of 165,346 shares, compared to its average volume of 226,061. Tyler Technologies, Inc. has a twelve month low of $361.16 and a twelve month high of $606.93. The firm has a market cap of $25.55 billion, a price-to-earnings ratio of 135.68, a PEG ratio of 5.42 and a beta of 0.78. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.19. The business has a 50 day moving average price of $582.08 and a 200-day moving average price of $517.04.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.06. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. The company had revenue of $540.98 million during the quarter, compared to the consensus estimate of $541.01 million. During the same quarter in the previous year, the company posted $1.53 earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. Sell-side analysts predict that Tyler Technologies, Inc. will post 7.21 EPS for the current fiscal year.

Insider Activity

In related news, Director Daniel M. Pope sold 275 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $578.26, for a total value of $159,021.50. Following the completion of the sale, the director now owns 3,218 shares of the company’s stock, valued at $1,860,840.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Daniel M. Pope sold 275 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $578.26, for a total value of $159,021.50. Following the completion of the sale, the director now owns 3,218 shares of the company’s stock, valued at $1,860,840.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Brian K. Miller sold 2,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $567.96, for a total transaction of $1,135,920.00. Following the completion of the sale, the chief financial officer now directly owns 11,950 shares of the company’s stock, valued at $6,787,122. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,375 shares of company stock valued at $17,049,739. 2.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Barclays upgraded shares of Tyler Technologies from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $577.00 to $700.00 in a research note on Monday, October 7th. BTIG Research lifted their price target on shares of Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Piper Sandler lifted their price target on shares of Tyler Technologies from $529.00 to $625.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. The Goldman Sachs Group restated a “buy” rating and issued a $627.00 price target on shares of Tyler Technologies in a research note on Friday, September 13th. Finally, Truist Financial restated a “buy” rating and issued a $600.00 price target (up previously from $560.00) on shares of Tyler Technologies in a research note on Friday, July 26th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Tyler Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $591.77.

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.