Forsta AP Fonden Has $4.02 Million Stock Position in Tyler Technologies, Inc. (NYSE:TYL)

Forsta AP Fonden lowered its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 9.1% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,000 shares of the technology company’s stock after selling 800 shares during the period. Forsta AP Fonden’s holdings in Tyler Technologies were worth $4,022,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Independence Bank of Kentucky acquired a new position in shares of Tyler Technologies during the 2nd quarter worth $25,000. Kapitalo Investimentos Ltda acquired a new position in shares of Tyler Technologies during the 4th quarter worth $26,000. Covestor Ltd increased its holdings in Tyler Technologies by 153.6% in the 1st quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after purchasing an additional 43 shares in the last quarter. Blue Trust Inc. increased its holdings in Tyler Technologies by 329.4% in the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after purchasing an additional 56 shares in the last quarter. Finally, Lynx Investment Advisory acquired a new position in Tyler Technologies in the 2nd quarter worth about $38,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TYL. JMP Securities upped their target price on Tyler Technologies from $490.00 to $580.00 and gave the stock a “market outperform” rating in a report on Monday, July 22nd. Evercore ISI raised Tyler Technologies to a “hold” rating in a report on Friday, July 26th. Piper Sandler upped their target price on Tyler Technologies from $529.00 to $625.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. BTIG Research increased their price target on Tyler Technologies from $550.00 to $630.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Truist Financial reissued a “buy” rating and issued a $600.00 price target (up previously from $560.00) on shares of Tyler Technologies in a research note on Friday, July 26th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $582.31.

Insider Transactions at Tyler Technologies

In related news, insider John S. Marr, Jr. sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $578.94, for a total transaction of $2,894,700.00. Following the transaction, the insider now owns 6,983 shares in the company, valued at approximately $4,042,738.02. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Daniel M. Pope sold 275 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $578.26, for a total value of $159,021.50. Following the transaction, the director now directly owns 3,218 shares of the company’s stock, valued at approximately $1,860,840.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John S. Marr, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $578.94, for a total value of $2,894,700.00. Following the completion of the transaction, the insider now directly owns 6,983 shares in the company, valued at $4,042,738.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,375 shares of company stock worth $14,166,639. Company insiders own 2.20% of the company’s stock.

Tyler Technologies Price Performance

NYSE:TYL opened at $581.96 on Friday. The firm has a market capitalization of $24.83 billion, a price-to-earnings ratio of 131.67, a P/E/G ratio of 5.42 and a beta of 0.78. Tyler Technologies, Inc. has a 52-week low of $361.16 and a 52-week high of $598.93. The stock has a fifty day moving average of $564.01 and a 200 day moving average of $492.55. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.06 and a current ratio of 1.06.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.06. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The firm had revenue of $540.98 million during the quarter, compared to analyst estimates of $541.01 million. During the same quarter in the previous year, the company posted $1.53 earnings per share. The company’s revenue was up 7.3% compared to the same quarter last year. On average, research analysts expect that Tyler Technologies, Inc. will post 7.21 EPS for the current fiscal year.

About Tyler Technologies

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.