DnB Asset Management AS Increases Stake in Tyler Technologies, Inc. (NYSE:TYL)

DnB Asset Management AS increased its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 11.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 7,702 shares of the technology company’s stock after acquiring an additional 822 shares during the quarter. DnB Asset Management AS’s holdings in Tyler Technologies were worth $4,441,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in TYL. Larson Financial Group LLC increased its holdings in shares of Tyler Technologies by 221.4% in the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock worth $26,000 after buying an additional 31 shares during the period. Sierra Ocean LLC bought a new position in Tyler Technologies during the 4th quarter worth approximately $32,000. OFI Invest Asset Management purchased a new position in Tyler Technologies in the 4th quarter worth approximately $41,000. Smithfield Trust Co lifted its position in Tyler Technologies by 55.6% in the fourth quarter. Smithfield Trust Co now owns 84 shares of the technology company’s stock valued at $48,000 after purchasing an additional 30 shares during the last quarter. Finally, Private Trust Co. NA boosted its stake in shares of Tyler Technologies by 51.8% during the fourth quarter. Private Trust Co. NA now owns 85 shares of the technology company’s stock valued at $49,000 after purchasing an additional 29 shares during the period. 93.30% of the stock is owned by institutional investors.

Tyler Technologies Stock Up 0.2 %

TYL stock opened at $579.39 on Monday. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. The business has a 50 day moving average of $599.76 and a 200 day moving average of $597.71. Tyler Technologies, Inc. has a twelve month low of $397.80 and a twelve month high of $661.31. The firm has a market cap of $24.98 billion, a PE ratio of 95.61, a price-to-earnings-growth ratio of 4.93 and a beta of 0.80.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results 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, research analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Analyst Ratings Changes

TYL has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $700.00 price target on shares of Tyler Technologies in a report on Tuesday, January 21st. Barclays upped their price objective on shares of Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. StockNews.com cut Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Monday, February 24th. The Goldman Sachs Group increased their price objective on Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Finally, DA Davidson reissued a “neutral” rating and set a $575.00 target price on shares of Tyler Technologies in a research note on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $676.25.

Insiders Place Their Bets

In other news, CEO H Lynn Moore, Jr. sold 6,514 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $617.59, for a total value of $4,022,981.26. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Brian K. Miller sold 1,550 shares of the company’s 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 transaction, the chief financial officer now directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,064 shares of company stock valued at $8,688,030. Insiders own 2.20% of the company’s stock.

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.