Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust acquired a new stake in shares of Tyler Technologies, Inc. (NYSE:TYL – Free Report) in the 4th quarter, HoldingsChannel reports. The firm acquired 20,747 shares of the technology company’s stock, valued at approximately $9,418,000. Tyler Technologies accounts for approximately 2.5% of Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust’s portfolio, making the stock its 17th largest holding.
Several other institutional investors have also added to or reduced their stakes in the company. Cerity Partners LLC raised its position in Tyler Technologies by 0.6% during the second quarter. Cerity Partners LLC now owns 2,959 shares of the technology company’s stock valued at $1,754,000 after purchasing an additional 19 shares in the last quarter. Coldstream Capital Management Inc. raised its position in Tyler Technologies by 2.0% during the third quarter. Coldstream Capital Management Inc. now owns 1,167 shares of the technology company’s stock valued at $611,000 after purchasing an additional 23 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its position in Tyler Technologies by 0.8% during the third quarter. Mesirow Financial Investment Management Inc. now owns 3,008 shares of the technology company’s stock valued at $1,573,000 after purchasing an additional 25 shares in the last quarter. Signaturefd LLC raised its position in Tyler Technologies by 4.4% during the fourth quarter. Signaturefd LLC now owns 640 shares of the technology company’s stock valued at $291,000 after purchasing an additional 27 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its position in Tyler Technologies by 35.5% during the third quarter. Brown Brothers Harriman & Co. now owns 103 shares of the technology company’s stock valued at $54,000 after purchasing an additional 27 shares in the last quarter. 93.30% of the stock is currently owned by institutional investors and hedge funds.
Tyler Technologies Stock Performance
NYSE TYL opened at $302.50 on Thursday. The firm’s fifty day moving average price is $330.30 and its two-hundred day moving average price is $384.93. The stock has a market cap of $12.76 billion, a PE ratio of 41.78, a PEG ratio of 2.07 and a beta of 0.86. Tyler Technologies, Inc. has a fifty-two week low of $283.71 and a fifty-two week high of $621.34.
Insiders Place Their Bets
In related news, Director Glenn A. Carter sold 1,624 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $349.14, for a total value of $567,003.36. Following the sale, the director owned 5,298 shares of the company’s stock, valued at $1,849,743.72. The trade was a 23.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel M. Pope sold 500 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $355.40, for a total transaction of $177,700.00. Following the completion of the sale, the director directly owned 2,871 shares in the company, valued at approximately $1,020,353.40. This represents a 14.83% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 7,298 shares of company stock valued at $2,658,721. 1.10% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Several research analysts have commented on TYL shares. Robert W. Baird set a $455.00 price objective on shares of Tyler Technologies in a research report on Friday, May 1st. Piper Sandler restated an “overweight” rating and set a $543.00 price objective (down from $671.00) on shares of Tyler Technologies in a research report on Friday, February 13th. Stifel Nicolaus lowered their price objective on shares of Tyler Technologies from $550.00 to $400.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Truist Financial set a $440.00 price objective on shares of Tyler Technologies in a research report on Friday, May 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $750.00 target price on shares of Tyler Technologies in a research note on Tuesday, February 3rd. Twelve investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $468.53.
Read Our Latest Research Report on TYL
About Tyler Technologies
Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.
Tyler’s product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.
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