Norges Bank Takes Position in Tyler Technologies, Inc. (NYSE:TYL)

Norges Bank acquired a new position in Tyler Technologies, Inc. (NYSE:TYL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 916,455 shares of the technology company’s stock, valued at approximately $528,465,000.

Several other large investors also recently added to or reduced their stakes in TYL. Oregon Public Employees Retirement Fund boosted its stake in shares of Tyler Technologies by 0.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,668 shares of the technology company’s stock worth $2,115,000 after acquiring an additional 20 shares during the last quarter. Kensington Investment Counsel LLC lifted its position in Tyler Technologies by 0.8% during the fourth quarter. Kensington Investment Counsel LLC now owns 2,496 shares of the technology company’s stock valued at $1,439,000 after purchasing an additional 20 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in Tyler Technologies by 18.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the technology company’s stock valued at $78,000 after purchasing an additional 21 shares during the period. Baron Wealth Management LLC increased its position in Tyler Technologies by 1.5% in the fourth quarter. Baron Wealth Management LLC now owns 1,487 shares of the technology company’s stock worth $857,000 after buying an additional 22 shares in the last quarter. Finally, Choreo LLC raised its stake in shares of Tyler Technologies by 3.9% in the fourth quarter. Choreo LLC now owns 647 shares of the technology company’s stock worth $374,000 after buying an additional 24 shares during the period. 93.30% of the stock is currently owned by institutional investors.

Tyler Technologies Price Performance

NYSE:TYL opened at $579.39 on Friday. The business’s 50-day moving average is $599.76 and its 200 day moving average is $597.62. Tyler Technologies, Inc. has a 12 month low of $397.80 and a 12 month high of $661.31. The company has a market capitalization of $24.98 billion, a P/E ratio of 95.61, a P/E/G ratio of 4.93 and a beta of 0.80. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. On average, equities research analysts forecast that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on TYL shares. Barclays boosted their price objective on Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Needham & Company LLC reissued a “buy” rating and issued a $700.00 price objective on shares of Tyler Technologies in a research note on Tuesday, January 21st. Piper Sandler raised their price objective on shares of 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 downgraded shares of Tyler Technologies from a “buy” rating to a “hold” rating in a report on Monday, February 24th. Finally, DA Davidson reissued a “neutral” rating and set a $575.00 price target on shares of Tyler Technologies in a report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tyler Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $676.25.

Insiders Place Their Bets

In other news, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies 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 owns 6,983 shares in the company, valued at approximately $4,322,477. The trade was a 46.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total value of $4,022,981.26. Following the sale, the chief executive officer now owns 75,734 shares in the company, valued at $46,772,561.06. The trade was a 7.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,064 shares of company stock valued at $8,688,030 in the last three months. Corporate 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.