Northern Trust Corp Increases Stake in Tyler Technologies, Inc. (NYSE:TYL)

Northern Trust Corp grew its position in Tyler Technologies, Inc. (NYSE:TYL) by 13.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 497,367 shares of the technology company’s stock after purchasing an additional 60,654 shares during the quarter. Northern Trust Corp’s holdings in Tyler Technologies were worth $286,802,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Integrated Wealth Concepts LLC raised its holdings in Tyler Technologies by 2.3% in the 4th quarter. Integrated Wealth Concepts LLC now owns 786 shares of the technology company’s stock worth $453,000 after acquiring an additional 18 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Tyler Technologies by 0.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,668 shares of the technology company’s stock worth $2,115,000 after purchasing an additional 20 shares in the last quarter. Kensington Investment Counsel LLC raised its stake in shares of Tyler Technologies by 0.8% in the fourth quarter. Kensington Investment Counsel LLC now owns 2,496 shares of the technology company’s stock worth $1,439,000 after purchasing an additional 20 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Tyler Technologies by 18.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the technology company’s stock valued at $78,000 after purchasing an additional 21 shares in the last quarter. Finally, Baron Wealth Management LLC boosted its position in shares of Tyler Technologies by 1.5% during the fourth quarter. Baron Wealth Management LLC now owns 1,487 shares of the technology company’s stock valued at $857,000 after buying an additional 22 shares during the last quarter. 93.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Robert W. Baird lowered their target price on shares of Tyler Technologies from $785.00 to $700.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Piper Sandler dropped their target price on shares of Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating on the stock in a report on Friday, April 25th. The Goldman Sachs Group boosted their target price on shares of Tyler Technologies from $660.00 to $728.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Truist Financial restated a “buy” rating and issued a $775.00 price target (up from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. Finally, Wells Fargo & Company reduced their price objective on Tyler Technologies from $640.00 to $610.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $674.67.

Tyler Technologies Price Performance

NYSE TYL opened at $543.11 on Thursday. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies, Inc. has a 12 month low of $452.57 and a 12 month high of $661.31. The stock has a market cap of $23.42 billion, a price-to-earnings ratio of 89.62, a PEG ratio of 4.93 and a beta of 0.84. The company’s 50 day moving average is $571.58 and its two-hundred day moving average is $592.73.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 EPS for the quarter, beating the consensus estimate of $2.56 by $0.22. The firm had revenue of $562.43 million for the quarter, compared to the consensus estimate of $556.45 million. Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. The company’s revenue was up 10.3% on a year-over-year basis. During the same period last year, the firm earned $2.20 EPS. As a group, research analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Insider Activity

In other news, CFO Brian K. Miller sold 1,550 shares of Tyler Technologies stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $613.58, for a total transaction of $951,049.00. Following the sale, the chief financial officer now owns 14,026 shares in the company, valued at $8,606,073.08. This trade represents a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the transaction, the chief executive officer now directly owns 75,734 shares of the company’s stock, valued at $46,772,561.06. The trade was a 7.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,064 shares of company stock worth $8,688,030 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

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.