Ethic Inc. Has $2.44 Million Stock Position in Tyler Technologies, Inc. (NYSE:TYL)

Ethic Inc. boosted its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 1.3% during the fourth quarter, Holdings Channel reports. The fund owned 4,234 shares of the technology company’s stock after acquiring an additional 54 shares during the period. Ethic Inc.’s holdings in Tyler Technologies were worth $2,441,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Tyler Technologies during the 4th quarter worth $528,465,000. Van ECK Associates Corp raised its position in shares of Tyler Technologies by 1,991.8% during the fourth quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock worth $317,486,000 after acquiring an additional 524,259 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Tyler Technologies during the fourth quarter valued at $159,947,000. JPMorgan Chase & Co. boosted its holdings in Tyler Technologies by 148.2% in the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock valued at $269,369,000 after acquiring an additional 275,511 shares during the last quarter. Finally, Seilern Investment Management Ltd bought a new position in Tyler Technologies in the fourth quarter valued at about $105,549,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

Tyler Technologies Price Performance

Shares of TYL stock opened at $560.06 on Monday. 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 12-month low of $458.50 and a 12-month high of $661.31. The firm has a fifty day moving average of $563.43 and a 200-day moving average of $590.82. The firm has a market capitalization of $24.15 billion, a price-to-earnings ratio of 92.42, a price-to-earnings-growth ratio of 4.93 and a beta of 0.88.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.22. The company 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 company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.20 earnings per share. On average, equities research analysts forecast that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Daniel M. Pope sold 365 shares of Tyler Technologies stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $550.00, for a total value of $200,750.00. Following the sale, the director now directly owns 2,853 shares in the company, valued at $1,569,150. This trade represents a 11.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian K. Miller sold 1,033 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $557.45, for a total transaction of $575,845.85. Following the transaction, the chief financial officer now owns 13,028 shares of the company’s stock, valued at $7,262,458.60. The trade was a 7.35% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 15,462 shares of company stock valued at $9,464,626. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TYL. DA Davidson cut their target price on shares of Tyler Technologies from $595.00 to $570.00 and set a “neutral” rating on the stock in a research report on Friday, April 25th. Truist Financial reissued a “buy” rating and set a $775.00 price target (up from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. Barclays cut their price objective on shares of Tyler Technologies from $700.00 to $695.00 and set an “overweight” rating on the stock in a report on Friday, April 25th. Robert W. Baird lowered their target price on shares of Tyler Technologies from $785.00 to $700.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Finally, 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 note on Tuesday, February 18th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Tyler Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $674.67.

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.