Tyler Technologies, Inc. (NYSE:TYL) Stake Lowered by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd cut its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 4.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,316 shares of the technology company’s stock after selling 163 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Tyler Technologies were worth $1,935,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Tyler Technologies by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 5,022,053 shares of the technology company’s stock worth $2,134,423,000 after buying an additional 53,005 shares in the last quarter. APG Asset Management N.V. grew its holdings in Tyler Technologies by 1.4% in the 2nd quarter. APG Asset Management N.V. now owns 1,507,062 shares of the technology company’s stock worth $706,994,000 after buying an additional 20,842 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Tyler Technologies by 15.3% in the 1st quarter. Janus Henderson Group PLC now owns 532,935 shares of the technology company’s stock worth $226,501,000 after buying an additional 70,801 shares in the last quarter. Swedbank AB bought a new position in Tyler Technologies in the 2nd quarter worth approximately $251,390,000. Finally, Blair William & Co. IL grew its holdings in Tyler Technologies by 0.5% in the 1st quarter. Blair William & Co. IL now owns 463,612 shares of the technology company’s stock worth $197,040,000 after buying an additional 2,134 shares in the last quarter. 93.30% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO H Lynn Moore, Jr. sold 5,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $576.62, for a total value of $2,883,100.00. Following the completion of the sale, the chief executive officer now owns 75,000 shares in the company, valued at $43,246,500. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Glenn A. Carter sold 3,350 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $582.57, for a total value of $1,951,609.50. Following the transaction, the director now directly owns 2,654 shares of the company’s stock, valued at approximately $1,546,140.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $576.62, for a total transaction of $2,883,100.00. Following the completion of the transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at $43,246,500. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,850 shares of company stock worth $12,151,735 over the last quarter. Corporate insiders own 2.20% of the company’s stock.

Tyler Technologies Price Performance

Shares of NYSE:TYL opened at $615.35 on Friday. The stock has a fifty day moving average of $590.22 and a 200-day moving average of $539.16. The company has a market capitalization of $26.34 billion, a PE ratio of 112.29, a price-to-earnings-growth ratio of 5.42 and a beta of 0.77. Tyler Technologies, Inc. has a one year low of $397.80 and a one year high of $631.43. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. The company had revenue of $543.34 million during the quarter, compared to analyst estimates of $547.34 million. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.66 earnings per share. As a group, equities analysts anticipate that Tyler Technologies, Inc. will post 7.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on TYL shares. JMP Securities increased their price objective on Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a report on Friday, October 25th. Needham & Company LLC increased their price objective on Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Robert W. Baird upped their target price on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. BTIG Research upped 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. Finally, Truist Financial restated a “buy” rating and issued a $685.00 target price (up from $600.00) on shares of Tyler Technologies in a research report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Tyler Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $642.62.

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.