Fifth Third Bancorp Raises Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Fifth Third Bancorp increased its position in Tyler Technologies, Inc. (NYSE:TYL) by 4.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,140 shares of the technology company’s stock after buying an additional 45 shares during the quarter. Fifth Third Bancorp’s holdings in Tyler Technologies were worth $573,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Kapitalo Investimentos Ltda purchased a new position in Tyler Technologies in the fourth quarter valued at about $26,000. Covestor Ltd increased its position in shares of Tyler Technologies by 153.6% during the first quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after acquiring an additional 43 shares during the last quarter. Blue Trust Inc. increased its position 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 worth $37,000 after acquiring an additional 56 shares during the last quarter. Lynx Investment Advisory purchased a new stake in shares of Tyler Technologies during the second quarter worth about $38,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Tyler Technologies during the fourth quarter worth about $40,000. 93.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Truist Financial reaffirmed a “buy” rating and set a $600.00 target price (up from $560.00) on shares of Tyler Technologies in a research report on Friday, July 26th. BTIG Research lifted their target price on Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Wells Fargo & Company boosted their price objective on Tyler Technologies from $580.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Barclays boosted their price objective on Tyler Technologies from $515.00 to $577.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Finally, The Goldman Sachs Group boosted their price objective on Tyler Technologies from $515.00 to $627.00 and gave the company a “buy” rating in a report on Friday, July 26th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tyler Technologies has an average rating of “Moderate Buy” and an average price target of $582.31.

Tyler Technologies Stock Performance

Shares of NYSE TYL opened at $571.68 on Friday. 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 stock has a 50 day simple moving average of $536.52 and a 200-day simple moving average of $477.24. The company has a market cap of $24.27 billion, a PE ratio of 129.34, a P/E/G ratio of 5.40 and a beta of 0.76. Tyler Technologies, Inc. has a 12-month low of $361.16 and a 12-month high of $593.50.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.06. The business had revenue of $540.98 million during the quarter, compared to the consensus estimate of $541.01 million. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The business’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.53 earnings per share. On average, equities research analysts forecast that Tyler Technologies, Inc. will post 7.21 EPS for the current year.

Insider Transactions at Tyler Technologies

In other news, CEO H Lynn Moore, Jr. sold 6,250 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $576.49, for a total transaction of $3,603,062.50. Following the completion of the transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at $43,236,750. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,250 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $576.49, for a total value of $3,603,062.50. Following the completion of the sale, the chief executive officer now directly owns 75,000 shares in the company, valued at $43,236,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian K. Miller sold 800 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $479.28, for a total value of $383,424.00. Following the completion of the sale, the chief financial officer now owns 12,736 shares of the company’s stock, valued at $6,104,110.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,325 shares of company stock worth $11,068,068. Company insiders own 2.20% of the company’s stock.

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.