Bank of Nova Scotia Lowers Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Bank of Nova Scotia reduced its position in shares of Tyler Technologies, Inc. (NYSE:TYL – Get Rating) by 6.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,108 shares of the technology company’s stock after selling 287 shares during the quarter. Bank of Nova Scotia’s holdings in Tyler Technologies were worth $1,324,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. American Century Companies Inc. raised its holdings in shares of Tyler Technologies by 13.1% in the first quarter. American Century Companies Inc. now owns 1,328 shares of the technology company’s stock valued at $591,000 after acquiring an additional 154 shares in the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Tyler Technologies by 69.1% in the 1st quarter. Panagora Asset Management Inc. now owns 2,431 shares of the technology company’s stock valued at $1,082,000 after acquiring an additional 993 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Tyler Technologies by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,483 shares of the technology company’s stock worth $2,439,000 after acquiring an additional 340 shares in the last quarter. Raymond James Trust N.A. lifted its stake in shares of Tyler Technologies by 4.3% during the 1st quarter. Raymond James Trust N.A. now owns 1,047 shares of the technology company’s stock worth $466,000 after purchasing an additional 43 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Tyler Technologies by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 118,419 shares of the technology company’s stock valued at $52,683,000 after purchasing an additional 934 shares in the last quarter. 89.45% of the stock is owned by institutional investors.

Tyler Technologies Stock Up 1.0 %

NYSE:TYL opened at $397.97 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.89 and a quick ratio of 0.89. The company’s fifty day moving average price is $363.47 and its 200-day moving average price is $337.20. Tyler Technologies, Inc. has a 1-year low of $281.11 and a 1-year high of $425.80. The firm has a market capitalization of $16.68 billion, a P/E ratio of 108.73 and a beta of 0.84.

Insider Activity

In related news, CEO H Lynn Moore, Jr. sold 4,417 shares of Tyler Technologies stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $326.64, for a total transaction of $1,442,768.88. Following the completion of the transaction, the chief executive officer now directly owns 89,905 shares in the company, valued at $29,366,569.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO H Lynn Moore, Jr. sold 4,417 shares of the stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $326.64, for a total transaction of $1,442,768.88. Following the sale, the chief executive officer now directly owns 89,905 shares of the company’s stock, valued at $29,366,569.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brian K. Miller sold 838 shares of Tyler Technologies stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $326.37, for a total transaction of $273,498.06. Following the completion of the transaction, the chief financial officer now directly owns 18,456 shares of the company’s stock, valued at approximately $6,023,484.72. The disclosure for this sale can be found here. Insiders sold a total of 26,803 shares of company stock valued at $9,457,625 in the last quarter. 2.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on TYL. The Goldman Sachs Group raised shares of Tyler Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $301.00 to $424.00 in a research report on Tuesday, April 18th. JMP Securities reduced their price target on Tyler Technologies from $465.00 to $415.00 in a research report on Friday, February 17th. DA Davidson downgraded Tyler Technologies from a “buy” rating to a “neutral” rating and set a $395.00 target price on the stock. in a research note on Friday, April 28th. Evercore ISI increased their price target on Tyler Technologies from $375.00 to $400.00 and gave the company an “inline” rating in a research note on Friday, April 28th. Finally, Credit Suisse Group upped their price objective on shares of Tyler Technologies from $370.00 to $376.00 in a report on Monday, May 1st. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $435.38.

Tyler Technologies Profile

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Tyler Technologies, Inc engages in the provision of integrated technology and management solutions and services for the public sector with a focus on local governments. It operates through the following segments: Enterprise Software and Appraisal and Tax. The Enterprise Software segment provides municipal and county governments and schools with software systems to meet their information technology and automation needs for mission-critical back-office functions such as financial management, courts and justice processes.