CIBC Asset Management Inc Has $2.42 Million Stake in Tyler Technologies, Inc. (NYSE:TYL)

CIBC Asset Management Inc trimmed its stake in shares of Tyler Technologies, Inc. (NYSE:TYLFree Report) by 4.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,778 shares of the technology company’s stock after selling 252 shares during the period. CIBC Asset Management Inc’s holdings in Tyler Technologies were worth $2,416,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Tyler Technologies in the fourth quarter valued at $31,000. Headlands Technologies LLC bought a new position in Tyler Technologies in the fourth quarter valued at $40,000. Lindbrook Capital LLC grew its position in Tyler Technologies by 50.6% in the fourth quarter. Lindbrook Capital LLC now owns 116 shares of the technology company’s stock valued at $49,000 after purchasing an additional 39 shares in the last quarter. Chilton Capital Management LLC bought a new position in Tyler Technologies in the fourth quarter valued at $52,000. Finally, Headinvest LLC bought a new position in Tyler Technologies in the third quarter valued at $78,000. Institutional investors own 93.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TYL. Truist Financial reaffirmed a “buy” rating and issued a $560.00 target price (up previously from $510.00) on shares of Tyler Technologies in a research report on Thursday, May 23rd. Robert W. Baird lifted their price objective on shares of Tyler Technologies from $500.00 to $525.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. BTIG Research lifted their price objective on shares of Tyler Technologies from $515.00 to $550.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Needham & Company LLC lifted their price objective on shares of Tyler Technologies from $500.00 to $600.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Tyler Technologies from $500.00 to $526.00 and gave the company an “overweight” rating in a research report on Thursday, February 15th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $519.09.

Read Our Latest Stock Analysis on TYL

Tyler Technologies Stock Performance

NYSE TYL opened at $481.84 on Friday. The firm has a 50-day moving average of $455.26 and a 200-day moving average of $433.72. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $20.46 billion, a PE ratio of 109.01, a P/E/G ratio of 4.52 and a beta of 0.74. Tyler Technologies, Inc. has a 52-week low of $361.16 and a 52-week high of $500.49.

Tyler Technologies (NYSE:TYLGet Free Report) last posted its earnings results on Wednesday, April 24th. The technology company reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.26. Tyler Technologies had a net margin of 9.50% and a return on equity of 9.35%. The company had revenue of $512.36 million during the quarter, compared to analysts’ expectations of $507.79 million. On average, sell-side analysts anticipate that Tyler Technologies, Inc. will post 7.1 EPS for the current year.

Insiders Place Their Bets

In other Tyler Technologies news, Director Daniel M. Pope sold 520 shares of Tyler Technologies stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $491.18, for a total value of $255,413.60. Following the completion of the sale, the director now owns 3,493 shares in the company, valued at approximately $1,715,691.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 5,250 shares of Tyler Technologies stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $481.83, for a total value of $2,529,607.50. Following the completion of the sale, the chief executive officer now owns 75,000 shares in the company, valued at approximately $36,137,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel M. Pope sold 520 shares of Tyler Technologies stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $491.18, for a total transaction of $255,413.60. Following the completion of the sale, the director now owns 3,493 shares of the company’s stock, valued at approximately $1,715,691.74. The disclosure for this sale can be found here. Insiders sold 31,941 shares of company stock worth $14,893,296 in the last quarter. 2.20% of the stock is currently owned by corporate insiders.

Tyler Technologies Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding TYL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tyler Technologies, Inc. (NYSE:TYLFree Report).

Institutional Ownership by Quarter for Tyler Technologies (NYSE:TYL)

Receive News & Ratings for Tyler Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tyler Technologies and related companies with MarketBeat.com's FREE daily email newsletter.