National Bank of Canada FI Increases Position in Tyler Technologies, Inc. (NYSE:TYL)

National Bank of Canada FI lifted its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 86.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,806 shares of the technology company’s stock after purchasing an additional 10,105 shares during the period. National Bank of Canada FI owned 0.05% of Tyler Technologies worth $12,729,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Kovitz Investment Group Partners LLC boosted its stake in Tyler Technologies by 36.2% during the third quarter. Kovitz Investment Group Partners LLC now owns 2,410 shares of the technology company’s stock worth $1,407,000 after buying an additional 641 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Tyler Technologies by 8.1% during the 3rd quarter. Wellington Management Group LLP now owns 150,475 shares of the technology company’s stock valued at $87,835,000 after acquiring an additional 11,235 shares during the last quarter. Wahed Invest LLC grew its holdings in shares of Tyler Technologies by 8.4% in the third quarter. Wahed Invest LLC now owns 1,028 shares of the technology company’s stock valued at $600,000 after purchasing an additional 80 shares during the period. Weiss Asset Management LP acquired a new stake in Tyler Technologies during the third quarter worth about $6,043,000. Finally, Quadrature Capital Ltd purchased a new position in Tyler Technologies during the third quarter worth about $494,000. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Tyler Technologies Price Performance

Tyler Technologies stock opened at $617.44 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies, Inc. has a 52-week low of $397.80 and a 52-week high of $638.56. The firm has a market cap of $26.43 billion, a PE ratio of 112.67, a price-to-earnings-growth ratio of 5.64 and a beta of 0.76. The company’s 50 day moving average is $606.33 and its two-hundred day moving average is $563.82.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.43 by $0.09. The firm had revenue of $543.34 million during the quarter, compared to analysts’ expectations of $547.34 million. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. Tyler Technologies’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.66 EPS. On average, research analysts expect that Tyler Technologies, Inc. will post 7.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TYL has been the subject of a number of recent analyst reports. Barclays raised their price target on shares of Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Truist Financial reissued a “buy” rating and set a $685.00 target price (up previously from $600.00) on shares of Tyler Technologies in a research note on Friday, October 25th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $627.00 price target on shares of Tyler Technologies in a research note on Friday, September 13th. Robert W. Baird raised their price objective on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Piper Sandler upped their target price on shares of Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating 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. Based on data from MarketBeat.com, Tyler Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $642.62.

Insider Buying and Selling

In other news, CFO Brian K. Miller sold 2,500 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $632.01, for a total value of $1,580,025.00. Following the sale, the chief financial officer now directly owns 12,198 shares in the company, valued at approximately $7,709,257.98. This trade represents a 17.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John S. Marr, Jr. sold 12,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the transaction, the insider now owns 6,983 shares of the company’s stock, valued at approximately $4,285,187.78. The trade was a 63.21 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,500 shares of company stock worth $24,835,988. Company insiders own 1.50% of the company’s stock.

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.