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

Royal Bank of Canada grew its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 15.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,016 shares of the technology company’s stock after purchasing an additional 12,686 shares during the period. Royal Bank of Canada owned approximately 0.22% of Tyler Technologies worth $54,791,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TYL. Norges Bank purchased a new position in Tyler Technologies during the 4th quarter valued at approximately $528,465,000. Van ECK Associates Corp grew its holdings in shares of Tyler Technologies by 1,991.8% in the fourth quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock valued at $317,486,000 after purchasing an additional 524,259 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Tyler Technologies in the fourth quarter worth $159,947,000. JPMorgan Chase & Co. raised its stake in Tyler Technologies by 148.2% during the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock valued at $269,369,000 after purchasing an additional 275,511 shares in the last quarter. Finally, Wealthfront Advisers LLC raised its stake in Tyler Technologies by 8,973.6% during the fourth quarter. Wealthfront Advisers LLC now owns 154,433 shares of the technology company’s stock valued at $89,052,000 after purchasing an additional 152,731 shares in the last quarter. 93.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

TYL has been the topic of a number of research reports. DA Davidson reduced their target price on shares of Tyler Technologies from $595.00 to $570.00 and set a “neutral” rating on the stock in a report on Friday, April 25th. Needham & Company LLC reissued a “buy” rating and set a $750.00 price objective on shares of Tyler Technologies in a research note on Tuesday, May 13th. The Goldman Sachs Group upped their price objective on Tyler Technologies from $660.00 to $728.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. StockNews.com cut Tyler Technologies from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Robert W. Baird decreased their price target on Tyler Technologies from $785.00 to $700.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $687.82.

Tyler Technologies Price Performance

TYL opened at $567.14 on Thursday. The business has a fifty day moving average of $561.82 and a 200 day moving average of $588.98. The stock has a market cap of $24.46 billion, a P/E ratio of 93.59, a PEG ratio of 4.93 and a beta of 0.88. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. Tyler Technologies, Inc. has a 52-week low of $458.50 and a 52-week high of $661.31.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.22. The business had revenue of $562.43 million during the quarter, compared to the consensus estimate of $556.45 million. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the company earned $2.20 earnings per share. As a group, sell-side analysts anticipate that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Insider Transactions at Tyler Technologies

In other Tyler Technologies news, Director Brenda A. Cline sold 2,500 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $577.41, for a total transaction of $1,443,525.00. Following the transaction, the director now directly owns 2,519 shares in the company, valued at $1,454,495.79. This represents a 49.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel M. Pope sold 365 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $550.00, for a total transaction of $200,750.00. Following the completion of the transaction, the director now directly owns 2,853 shares of the company’s stock, valued at $1,569,150. This trade represents a 11.34% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,962 shares of company stock valued at $13,702,451. 1.10% of the stock is currently owned by company insiders.

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.