Tyler Technologies, Inc. $TYL Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 11.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,410,640 shares of the technology company’s stock after acquiring an additional 144,612 shares during the period. Principal Financial Group Inc. owned about 3.28% of Tyler Technologies worth $738,010,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Root Financial Partners LLC purchased a new stake in shares of Tyler Technologies during the third quarter worth approximately $28,000. Generali Asset Management SPA SGR purchased a new stake in shares of Tyler Technologies in the 2nd quarter valued at approximately $30,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Tyler Technologies in the 2nd quarter valued at $32,000. Advisors Asset Management Inc. purchased a new stake in shares of Tyler Technologies during the 1st quarter worth $38,000. Finally, Geneos Wealth Management Inc. grew its stake in shares of Tyler Technologies by 137.9% during the first quarter. Geneos Wealth Management Inc. now owns 69 shares of the technology company’s stock worth $40,000 after purchasing an additional 40 shares in the last quarter. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tyler Technologies

In related news, CFO Brian K. Miller sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $448.51, for a total value of $448,510.00. Following the sale, the chief financial officer owned 17,148 shares of the company’s stock, valued at approximately $7,691,049.48. This represents a 5.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Glenn A. Carter sold 500 shares of the company’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $458.73, for a total value of $229,365.00. Following the completion of the sale, the director owned 3,172 shares in the company, valued at $1,455,091.56. This represents a 13.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,500 shares of company stock worth $1,605,605 over the last quarter. Company insiders own 1.10% of the company’s stock.

Tyler Technologies Stock Performance

NYSE:TYL opened at $369.06 on Friday. Tyler Technologies, Inc. has a 1 year low of $365.70 and a 1 year high of $661.31. The stock has a market capitalization of $15.88 billion, a price-to-earnings ratio of 51.33, a PEG ratio of 2.56 and a beta of 0.91. The stock has a fifty day moving average price of $448.75 and a two-hundred day moving average price of $501.59.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, October 29th. The technology company reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.88 by $0.09. The business had revenue of $595.88 million for the quarter, compared to analysts’ expectations of $594.34 million. Tyler Technologies had a return on equity of 10.57% and a net margin of 13.72%.The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.52 EPS. On average, analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. DA Davidson decreased their target price on Tyler Technologies from $540.00 to $510.00 and set a “neutral” rating for the company in a research note on Tuesday, December 9th. Stifel Nicolaus started coverage on Tyler Technologies in a report on Wednesday, January 7th. They issued a “buy” rating and a $550.00 target price for the company. TD Cowen initiated coverage on Tyler Technologies in a research note on Friday, December 12th. They set a “buy” rating on the stock. Evercore ISI reaffirmed a “positive” rating on shares of Tyler Technologies in a research report on Friday, October 31st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Tyler Technologies in a report on Friday, January 9th. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $611.14.

Tyler Technologies Company Profile

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler’s product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.