Norges Bank Acquires Shares of 916,455 Tyler Technologies, Inc. (NYSE:TYL)

Norges Bank bought a new position in Tyler Technologies, Inc. (NYSE:TYL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 916,455 shares of the technology company’s stock, valued at approximately $528,465,000. Norges Bank owned about 2.14% of Tyler Technologies as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Oak Thistle LLC grew its holdings in Tyler Technologies by 213.7% in the 4th quarter. Oak Thistle LLC now owns 2,328 shares of the technology company’s stock worth $1,342,000 after acquiring an additional 1,586 shares during the last quarter. Kensington Investment Counsel LLC grew its stake in shares of Tyler Technologies by 0.8% in the fourth quarter. Kensington Investment Counsel LLC now owns 2,496 shares of the technology company’s stock worth $1,439,000 after purchasing an additional 20 shares during the last quarter. Diversified Trust Co purchased a new position in Tyler Technologies during the 4th quarter valued at about $596,000. Fiduciary Alliance LLC bought a new position in Tyler Technologies during the 4th quarter valued at approximately $1,594,000. Finally, Barclays PLC lifted its holdings in Tyler Technologies by 2.5% in the 3rd quarter. Barclays PLC now owns 88,296 shares of the technology company’s stock worth $51,543,000 after buying an additional 2,169 shares during the period. 93.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TYL shares. StockNews.com downgraded Tyler Technologies from a “buy” rating to a “hold” rating in a report on Monday, February 24th. Truist Financial reaffirmed a “buy” rating and issued a $775.00 target price (up from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Barclays boosted their price target on shares of Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Piper Sandler lifted their price objective on Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Finally, Needham & Company LLC restated a “buy” rating and issued a $700.00 target price on shares of Tyler Technologies in a research note on Tuesday, January 21st. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $676.25.

Insider Activity

In other news, CEO H Lynn Moore, Jr. sold 6,514 shares of the firm’s stock in a transaction dated 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 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the completion of the sale, the insider now owns 6,983 shares of the company’s stock, valued at $4,322,477. This represents a 46.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,064 shares of company stock valued at $8,688,030 over the last ninety days. 2.20% of the stock is currently owned by corporate insiders.

Tyler Technologies Stock Performance

Shares of TYL stock opened at $579.39 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. The company has a market capitalization of $24.98 billion, a price-to-earnings ratio of 95.61, a price-to-earnings-growth ratio of 4.93 and a beta of 0.80. Tyler Technologies, Inc. has a one year low of $397.80 and a one year high of $661.31. The company’s 50-day moving average is $599.76 and its 200 day moving average is $597.62.

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

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.