Handelsbanken Fonder AB Sells 1,500 Shares of Tyler Technologies, Inc. $TYL

Handelsbanken Fonder AB lessened its stake in Tyler Technologies, Inc. (NYSE:TYL) by 0.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 266,551 shares of the technology company’s stock after selling 1,500 shares during the quarter. Handelsbanken Fonder AB owned about 0.62% of Tyler Technologies worth $139,449,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Generali Investments Management Co LLC acquired a new position in shares of Tyler Technologies during the third quarter worth approximately $702,000. Andra AP fonden increased its holdings in shares of Tyler Technologies by 51.4% in the third quarter. Andra AP fonden now owns 3,815 shares of the technology company’s stock valued at $1,996,000 after purchasing an additional 1,296 shares in the last quarter. TIAA Trust National Association raised its position in Tyler Technologies by 19.8% in the 3rd quarter. TIAA Trust National Association now owns 606 shares of the technology company’s stock worth $317,000 after purchasing an additional 100 shares during the last quarter. R Squared Ltd acquired a new position in Tyler Technologies during the 3rd quarter worth $256,000. Finally, Diversify Wealth Management LLC lifted its holdings in Tyler Technologies by 4.2% during the 3rd quarter. Diversify Wealth Management LLC now owns 1,757 shares of the technology company’s stock worth $919,000 after buying an additional 71 shares in the last quarter. 93.30% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Glenn A. Carter sold 500 shares of Tyler Technologies stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $458.73, for a total transaction of $229,365.00. Following the transaction, the director owned 3,172 shares in the company, valued at $1,455,091.56. The trade was a 13.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Abigail Marshall Diaz-Pedrosa bought 610 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were acquired at an average cost of $325.08 per share, with a total value of $198,298.80. Following the completion of the purchase, the insider owned 1,123 shares in the company, valued at $365,064.84. This represents a 118.91% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders sold 2,500 shares of company stock worth $1,136,525. 1.10% of the stock is owned by company insiders.

Tyler Technologies Trading Up 5.4%

Shares of TYL opened at $353.21 on Friday. The stock has a market cap of $15.18 billion, a P/E ratio of 49.06, a price-to-earnings-growth ratio of 2.24 and a beta of 0.91. Tyler Technologies, Inc. has a 1 year low of $283.71 and a 1 year high of $626.56. The stock’s 50-day moving average price is $399.55 and its two-hundred day moving average price is $469.91.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, February 11th. The technology company reported $2.64 EPS for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.07). The company had revenue of $575.18 million during the quarter, compared to the consensus estimate of $591.09 million. Tyler Technologies had a net margin of 13.53% and a return on equity of 10.42%. The business’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $2.43 earnings per share. As a group, equities analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Stifel Nicolaus lowered their target price on Tyler Technologies from $550.00 to $400.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Barclays decreased their price target on Tyler Technologies from $715.00 to $410.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. Wells Fargo & Company lowered their price objective on Tyler Technologies from $420.00 to $335.00 and set an “equal weight” rating for the company in a research report on Friday, February 13th. The Goldman Sachs Group set a $420.00 price objective on Tyler Technologies in a report on Friday, February 13th. Finally, Evercore reaffirmed a “positive” rating on shares of Tyler Technologies in a research note on Friday, October 31st. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Tyler Technologies presently has an average rating of “Moderate Buy” and an average target price of $467.54.

Tyler Technologies Profile

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.