Canada Pension Plan Investment Board Acquires 7,943 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Canada Pension Plan Investment Board grew its stake in Tyler Technologies, Inc. (NYSE:TYL) by 183.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,270 shares of the technology company’s stock after purchasing an additional 7,943 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Tyler Technologies were worth $7,075,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC lifted its stake in Tyler Technologies by 221.4% in the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock valued at $26,000 after buying an additional 31 shares during the period. Sierra Ocean LLC acquired a new stake in shares of Tyler Technologies in the 4th quarter valued at approximately $32,000. Brown Brothers Harriman & Co. boosted its stake in Tyler Technologies by 300.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock worth $32,000 after acquiring an additional 42 shares during the last quarter. OFI Invest Asset Management acquired a new position in Tyler Technologies during the fourth quarter valued at approximately $41,000. Finally, Smithfield Trust Co increased its stake in Tyler Technologies by 55.6% in the fourth quarter. Smithfield Trust Co now owns 84 shares of the technology company’s stock valued at $48,000 after purchasing an additional 30 shares in the last quarter. 93.30% of the stock is currently owned by institutional investors.

Insider Transactions at Tyler Technologies

In other news, CEO H Lynn Moore, Jr. sold 6,514 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 75,734 shares in the company, valued at approximately $46,772,561.06. This trade represents a 7.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Brian K. Miller sold 1,550 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $613.58, for a total transaction of $951,049.00. Following the completion of the transaction, the chief financial officer now owns 14,026 shares in the company, valued at approximately $8,606,073.08. This trade represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 14,064 shares of company stock worth $8,688,030. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Piper Sandler boosted their price target on shares of Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a report on Friday, February 14th. DA Davidson reissued a “neutral” rating and issued a $575.00 target price on shares of Tyler Technologies in a research note on Thursday, January 30th. StockNews.com lowered Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Friday, April 11th. Truist Financial reiterated a “buy” rating and issued a $775.00 price objective (up from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Finally, Needham & Company LLC reissued a “buy” rating and set a $700.00 target price on shares of Tyler Technologies in a research note on Tuesday, January 21st. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Tyler Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $675.00.

Tyler Technologies Price Performance

NYSE:TYL opened at $556.36 on Tuesday. The stock has a market capitalization of $23.98 billion, a PE ratio of 91.81, a P/E/G ratio of 4.93 and a beta of 0.84. Tyler Technologies, Inc. has a 1-year low of $403.65 and a 1-year high of $661.31. The firm has a fifty day simple moving average of $585.02 and a 200 day simple moving average of $595.13. 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 (NYSE:TYL) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. On average, research analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

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.