Principal Securities Inc. Trims Stake in Tyler Technologies, Inc. (NYSE:TYL)

Principal Securities Inc. lessened its stake in Tyler Technologies, Inc. (NYSE:TYL) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,126 shares of the technology company’s stock after selling 26 shares during the period. Principal Securities Inc.’s holdings in Tyler Technologies were worth $649,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its holdings in shares of Tyler Technologies by 1,991.8% in the 4th quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock valued at $317,486,000 after buying an additional 524,259 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Tyler Technologies by 252,047.5% in the 3rd quarter. International Assets Investment Management LLC now owns 307,620 shares of the technology company’s stock valued at $179,564,000 after buying an additional 307,498 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Tyler Technologies by 148.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock valued at $269,369,000 after buying an additional 275,511 shares in the last quarter. Seilern Investment Management Ltd bought a new stake in shares of Tyler Technologies in the 4th quarter valued at about $105,549,000. Finally, FMR LLC boosted its stake in Tyler Technologies by 94.1% in the 3rd quarter. FMR LLC now owns 109,319 shares of the technology company’s stock worth $63,812,000 after purchasing an additional 52,984 shares in the last quarter. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Insider Activity at Tyler Technologies

In other news, CFO Brian K. Miller sold 6,752 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $613.75, for a total value of $4,144,040.00. Following the completion of the sale, the chief financial officer now directly owns 11,918 shares of the company’s stock, valued at approximately $7,314,672.50. This represents a 36.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John S. Marr, Jr. sold 12,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $613.66, for a total value of $7,363,920.00. Following the completion of the sale, the insider now directly owns 6,983 shares of the company’s stock, valued at $4,285,187.78. The trade was a 63.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock valued at $18,941,368 over the last three months. 2.20% of the stock is owned by corporate insiders.

Tyler Technologies Stock Down 2.6 %

TYL stock opened at $628.12 on Friday. The company’s 50 day moving average price is $597.45 and its 200 day moving average price is $596.01. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. Tyler Technologies, Inc. has a fifty-two week low of $397.80 and a fifty-two week high of $661.31. The firm has a market capitalization of $26.88 billion, a price-to-earnings ratio of 103.65, a PEG ratio of 5.01 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. On average, equities research analysts anticipate that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TYL shares. JMP Securities raised their price target on shares of Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a research report on Friday, October 25th. Needham & Company LLC reissued a “buy” rating and issued a $700.00 price target on shares of Tyler Technologies in a research note on Tuesday, January 21st. The Goldman Sachs Group lifted their price target on shares of Tyler Technologies from $660.00 to $728.00 and gave the company a “buy” rating in a research note on Tuesday. Wells Fargo & Company reissued an “equal weight” rating and issued a $615.00 price target (down previously from $670.00) on shares of Tyler Technologies in a research note on Tuesday, January 7th. Finally, Robert W. Baird lifted their target price on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $676.25.

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.