Allstate Corp Purchases New Stake in Tyler Technologies, Inc. (NYSE:TYL)

Allstate Corp acquired a new position in shares of Tyler Technologies, Inc. (NYSE:TYL) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,238 shares of the technology company’s stock, valued at approximately $714,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Tyler Technologies by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 5,310,401 shares of the technology company’s stock worth $3,062,190,000 after buying an additional 62,420 shares during the last quarter. Geode Capital Management LLC raised its holdings in Tyler Technologies by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,108,908 shares of the technology company’s stock valued at $645,585,000 after acquiring an additional 24,284 shares during the period. Norges Bank acquired a new stake in Tyler Technologies during the fourth quarter worth approximately $528,465,000. Franklin Resources Inc. boosted its holdings in shares of Tyler Technologies by 2.0% during the third quarter. Franklin Resources Inc. now owns 912,746 shares of the technology company’s stock worth $547,354,000 after acquiring an additional 17,943 shares during the period. Finally, Van ECK Associates Corp grew its position in shares of Tyler Technologies by 1,991.8% in the fourth quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock valued at $317,486,000 after purchasing an additional 524,259 shares during the last quarter. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,000 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were 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 of the company’s stock, valued at approximately $4,322,477. The trade was a 46.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Brian K. Miller sold 1,550 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $613.58, for a total value of $951,049.00. Following the completion of the transaction, the chief financial officer now owns 14,026 shares of the company’s stock, valued at $8,606,073.08. The trade was a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,064 shares of company stock worth $8,688,030 in the last three months. 2.20% of the stock is owned by corporate insiders.

Tyler Technologies Trading Up 0.3 %

Shares of TYL opened at $581.12 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. Tyler Technologies, Inc. has a 52-week low of $397.80 and a 52-week high of $661.31. The firm has a market cap of $25.05 billion, a price-to-earnings ratio of 95.89, a PEG ratio of 4.93 and a beta of 0.80. The business’s fifty day moving average is $599.99 and its 200-day moving average is $597.70.

Tyler Technologies (NYSE:TYL) last released its 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%. Equities analysts anticipate that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on TYL. Barclays lifted their price target on Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. 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 research report on Friday, February 14th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $615.00 price target (down from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. The Goldman Sachs Group boosted their price objective on shares of Tyler Technologies from $660.00 to $728.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $700.00 target price on shares of Tyler Technologies in a report on Tuesday, January 21st. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Tyler Technologies has an average rating of “Moderate Buy” and an average target price of $676.25.

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.