ING Groep NV Lowers Holdings in Tyler Technologies, Inc. (NYSE:TYL)

ING Groep NV cut its position in Tyler Technologies, Inc. (NYSE:TYL) by 4.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,466 shares of the technology company’s stock after selling 241 shares during the quarter. ING Groep NV’s holdings in Tyler Technologies were worth $3,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of TYL. Blue Trust Inc. lifted its stake in Tyler Technologies by 432.9% in the 3rd quarter. Blue Trust Inc. now owns 389 shares of the technology company’s stock worth $227,000 after purchasing an additional 316 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Tyler Technologies by 19.7% in the 3rd quarter. Signaturefd LLC now owns 627 shares of the technology company’s stock worth $366,000 after buying an additional 103 shares during the last quarter. Greenleaf Trust bought a new position in shares of Tyler Technologies in the 3rd quarter worth $249,000. International Assets Investment Management LLC increased its holdings in shares of Tyler Technologies by 252,047.5% in the 3rd quarter. International Assets Investment Management LLC now owns 307,620 shares of the technology company’s stock worth $179,564,000 after buying an additional 307,498 shares during the last quarter. Finally, IFM Investors Pty Ltd increased its holdings in shares of Tyler Technologies by 2.1% in the 3rd quarter. IFM Investors Pty Ltd now owns 9,630 shares of the technology company’s stock worth $5,621,000 after buying an additional 198 shares during the last quarter. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Tyler Technologies

In other news, CFO Brian K. Miller sold 6,752 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $613.75, for a total value of $4,144,040.00. Following the completion of the sale, the chief financial officer now directly owns 11,918 shares of the company’s stock, valued at approximately $7,314,672.50. This trade represents a 36.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John S. Marr, Jr. sold 12,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 6,983 shares of the company’s stock, valued at approximately $4,285,187.78. This represents a 63.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,502 shares of company stock valued at $18,941,368. Company insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Piper Sandler increased their price target on shares of Tyler Technologies from $701.00 to $747.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Truist Financial reissued a “buy” rating and issued a $775.00 price target (up previously from $685.00) on shares of Tyler Technologies in a report on Friday, February 14th. Wells Fargo & Company reissued an “equal weight” rating and issued a $615.00 price target (down previously from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. The Goldman Sachs Group increased their target price on shares of Tyler Technologies from $660.00 to $728.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $575.00 target price on shares of Tyler Technologies in a report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Tyler Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $676.25.

Tyler Technologies Price Performance

Shares of Tyler Technologies stock opened at $614.89 on Friday. The firm has a market cap of $26.45 billion, a PE ratio of 101.47, a price-to-earnings-growth ratio of 4.93 and a beta of 0.78. Tyler Technologies, Inc. has a 12-month low of $397.80 and a 12-month high of $661.31. 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 company’s fifty day simple moving average is $597.53 and its two-hundred day simple moving average is $596.50.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. As a group, equities analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

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.