Tyler Technologies, Inc. (NYSE:TYL) Stock Position Trimmed by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board decreased its position in Tyler Technologies, Inc. (NYSE:TYL) by 37.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,547 shares of the technology company’s stock after selling 2,758 shares during the period. Canada Pension Plan Investment Board’s holdings in Tyler Technologies were worth $2,286,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Independence Bank of Kentucky bought a new position in Tyler Technologies in the 2nd quarter worth approximately $25,000. Kapitalo Investimentos Ltda bought a new position in shares of Tyler Technologies in the fourth quarter worth $26,000. Covestor Ltd increased its holdings in shares of Tyler Technologies by 153.6% during the first quarter. Covestor Ltd now owns 71 shares of the technology company’s stock valued at $30,000 after purchasing an additional 43 shares during the period. Blue Trust Inc. lifted its holdings in Tyler Technologies by 329.4% in the second quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after purchasing an additional 56 shares during the period. Finally, Lynx Investment Advisory bought a new position in Tyler Technologies in the 2nd quarter valued at about $38,000. Institutional investors own 93.30% of the company’s stock.

Analyst Upgrades and Downgrades

TYL has been the topic of a number of recent analyst reports. BTIG Research boosted their price target on shares of Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Oppenheimer upped their target price on Tyler Technologies from $550.00 to $625.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Needham & Company LLC reiterated a “buy” rating and set a $600.00 price target on shares of Tyler Technologies in a research report on Thursday, July 25th. Evercore ISI upgraded Tyler Technologies to a “hold” rating in a report on Friday, July 26th. Finally, DA Davidson lifted their target price on Tyler Technologies from $456.00 to $525.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $582.31.

Tyler Technologies Stock Performance

Tyler Technologies stock opened at $578.78 on Friday. Tyler Technologies, Inc. has a fifty-two week low of $361.16 and a fifty-two week high of $598.93. The firm’s 50 day simple moving average is $575.17 and its 200-day simple moving average is $501.99. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market cap of $24.57 billion, a P/E ratio of 130.95, a price-to-earnings-growth ratio of 5.40 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.40 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $541.01 million. During the same period in the previous year, the firm earned $1.53 earnings per share. Tyler Technologies’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, equities research analysts predict that Tyler Technologies, Inc. will post 7.21 EPS for the current year.

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 that occurred on Wednesday, August 21st. The shares were sold at an average price of $578.94, for a total transaction of $2,894,700.00. Following the transaction, the insider now directly owns 6,983 shares of the company’s stock, valued at $4,042,738.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tyler Technologies news, insider John S. Marr, Jr. sold 5,000 shares of Tyler Technologies stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $578.94, for a total transaction of $2,894,700.00. Following the completion of the sale, the insider now owns 6,983 shares of the company’s stock, valued at approximately $4,042,738.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $576.49, for a total transaction of $3,603,062.50. Following the completion of the transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at $43,236,750. The disclosure for this sale can be found here. Insiders sold 29,375 shares of company stock valued at $17,049,739 over the last three months. 2.20% of the stock is owned by corporate insiders.

Tyler Technologies Company Profile

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.