KLP Kapitalforvaltning AS Acquires New Stake in Tyler Technologies, Inc. (NYSE:TYL)

KLP Kapitalforvaltning AS bought a new position in Tyler Technologies, Inc. (NYSE:TYL) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,050 shares of the technology company’s stock, valued at approximately $8,678,000.

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

Analysts Set New Price Targets

A number of analysts recently commented on TYL shares. Truist Financial reiterated a “buy” rating and issued a $775.00 target price (up from $685.00) on shares of Tyler Technologies in a report on Friday, February 14th. Piper Sandler raised their price objective on Tyler Technologies from $701.00 to $747.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $615.00 target price (down from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. The Goldman Sachs Group increased their price target on Tyler Technologies from $660.00 to $728.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Finally, Barclays boosted their price objective on Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Tyler Technologies has a consensus rating of “Moderate Buy” and an average price target of $676.25.

Tyler Technologies Price Performance

Shares of TYL opened at $575.64 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21. The company has a market capitalization of $24.81 billion, a price-to-earnings ratio of 94.99, a P/E/G ratio of 4.93 and a beta of 0.80. The business’s 50-day moving average is $599.16 and its 200-day moving average is $597.96. Tyler Technologies, Inc. has a fifty-two week low of $397.80 and a fifty-two week high of $661.31.

Tyler Technologies (NYSE:TYL) last released its 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%. Equities research analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Insider Activity at Tyler Technologies

In related news, insider John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the transaction, the insider now owns 6,983 shares of the company’s stock, valued at approximately $4,322,477. This trade represents a 46.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the completion of the sale, the chief executive officer now owns 75,734 shares of the company’s stock, valued at $46,772,561.06. This trade represents a 7.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 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.