KLP Kapitalforvaltning AS Invests $8.68 Million in Tyler Technologies, Inc. (NYSE:TYL)

KLP Kapitalforvaltning AS acquired a new stake in shares of Tyler Technologies, Inc. (NYSE:TYL) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 15,050 shares of the technology company’s stock, valued at approximately $8,678,000.

Other institutional investors have also made changes to their positions in the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Tyler Technologies in the third quarter worth $569,000. Meridian Wealth Management LLC acquired a new position in Tyler Technologies during the 3rd quarter worth $442,000. Cerity Partners LLC boosted its holdings in Tyler Technologies by 60.6% during the third quarter. Cerity Partners LLC now owns 3,847 shares of the technology company’s stock valued at $2,246,000 after acquiring an additional 1,451 shares during the period. Daiwa Securities Group Inc. grew its position in shares of Tyler Technologies by 11.9% in the third quarter. Daiwa Securities Group Inc. now owns 5,282 shares of the technology company’s stock valued at $3,083,000 after purchasing an additional 561 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Tyler Technologies in the third quarter worth about $334,000. 93.30% of the stock is owned by institutional investors.

Tyler Technologies Stock Up 1.6 %

NYSE TYL opened at $575.64 on Tuesday. Tyler Technologies, Inc. has a 1-year low of $397.80 and a 1-year high of $661.31. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The stock’s 50 day moving average is $599.16 and its two-hundred day moving average is $597.96. The company has a market capitalization of $24.81 billion, a price-to-earnings ratio of 94.99, a PEG ratio of 4.93 and a beta of 0.80.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 EPS for the quarter, missing the consensus estimate 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 forecast that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on TYL shares. DA Davidson restated a “neutral” rating and set a $575.00 target price on shares of Tyler Technologies in a research note on Thursday, January 30th. Piper Sandler increased their price objective on Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. StockNews.com lowered shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Monday, February 24th. Barclays increased their price target on shares of Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Finally, Needham & Company LLC restated a “buy” rating and set a $700.00 price objective on shares of Tyler Technologies in a report on Tuesday, January 21st. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $676.25.

Insider Transactions at Tyler Technologies

In other news, CFO Brian K. Miller sold 1,550 shares of Tyler Technologies stock in a transaction that occurred 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 in the company, valued at approximately $8,606,073.08. The trade was a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $3,714,000.00. Following the completion of the transaction, the insider now directly owns 6,983 shares in the company, valued at $4,322,477. The trade was a 46.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,064 shares of company stock valued at $8,688,030. 2.20% of the stock is owned by insiders.

Tyler Technologies Company 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.