PNC Financial Services Group Inc. Has $7.28 Million Stake in Tyler Technologies, Inc. $TYL

PNC Financial Services Group Inc. grew its position in Tyler Technologies, Inc. (NYSE:TYL) by 13.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 13,912 shares of the technology company’s stock after purchasing an additional 1,604 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Tyler Technologies were worth $7,278,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in TYL. DLD Asset Management LP bought a new position in Tyler Technologies in the second quarter valued at approximately $5,780,190,000. Vanguard Group Inc. boosted its holdings in shares of Tyler Technologies by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 5,570,120 shares of the technology company’s stock valued at $3,302,190,000 after purchasing an additional 110,957 shares in the last quarter. State Street Corp increased its stake in shares of Tyler Technologies by 4.5% in the 2nd quarter. State Street Corp now owns 1,913,672 shares of the technology company’s stock valued at $1,134,501,000 after purchasing an additional 81,679 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Tyler Technologies by 11.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,410,640 shares of the technology company’s stock valued at $738,010,000 after purchasing an additional 144,612 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Tyler Technologies by 2.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,206,406 shares of the technology company’s stock worth $713,144,000 after buying an additional 30,686 shares in the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

Wall Street Analysts Forecast Growth

TYL has been the topic of several research analyst reports. Wells Fargo & Company reduced their price objective on Tyler Technologies from $420.00 to $335.00 and set an “equal weight” rating on the stock in a research note on Friday, February 13th. Stifel Nicolaus reduced their price target on shares of Tyler Technologies from $550.00 to $400.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. TD Cowen lowered their price objective on shares of Tyler Technologies from $600.00 to $500.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Needham & Company LLC reissued a “buy” rating and issued a $750.00 price objective on shares of Tyler Technologies in a research note on Tuesday, February 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tyler Technologies in a research note on Friday, January 9th. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $467.54.

Insider Buying and Selling at Tyler Technologies

In other news, CFO Brian K. Miller sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $469.08, for a total transaction of $469,080.00. Following the completion of the transaction, the chief financial officer directly owned 12,781 shares in the company, valued at $5,995,311.48. This trade represents a 7.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Glenn A. Carter sold 500 shares of Tyler Technologies stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $458.73, for a total value of $229,365.00. Following the completion of the transaction, the director directly owned 3,172 shares in the company, valued at approximately $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. Over the last ninety days, insiders have sold 3,500 shares of company stock valued at $1,605,605. 1.10% of the stock is owned by corporate insiders.

Tyler Technologies Price Performance

TYL opened at $319.57 on Friday. Tyler Technologies, Inc. has a fifty-two week low of $283.71 and a fifty-two week high of $641.77. The firm has a market capitalization of $13.75 billion, a price-to-earnings ratio of 44.39, a PEG ratio of 2.12 and a beta of 0.91. The company’s 50 day moving average price is $411.80 and its two-hundred day moving average price is $479.42.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, February 11th. The technology company reported $2.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.07). The business had revenue of $575.18 million for the quarter, compared to the consensus estimate of $591.09 million. Tyler Technologies had a net margin of 13.53% and a return on equity of 10.42%. Tyler Technologies’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.43 EPS. As a group, equities research analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

About Tyler Technologies

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.