State of Alaska Department of Revenue Acquires 130 Shares of Tyler Technologies, Inc. (NYSE:TYL)

State of Alaska Department of Revenue raised its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 2.7% in the 1st quarter, HoldingsChannel reports. The firm owned 5,012 shares of the technology company’s stock after purchasing an additional 130 shares during the quarter. State of Alaska Department of Revenue’s holdings in Tyler Technologies were worth $2,913,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of TYL. TCW Group Inc. bought a new position in Tyler Technologies in the 4th quarter valued at $36,099,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Tyler Technologies by 129.2% in the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 16,500 shares of the technology company’s stock valued at $9,515,000 after purchasing an additional 9,300 shares during the last quarter. BankPlus Trust Department bought a new position in Tyler Technologies in the 4th quarter valued at $170,000. Amalgamated Bank raised its position in Tyler Technologies by 0.4% in the 4th quarter. Amalgamated Bank now owns 8,911 shares of the technology company’s stock valued at $5,138,000 after purchasing an additional 35 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its position in Tyler Technologies by 2,291.7% in the 4th quarter. Los Angeles Capital Management LLC now owns 106,118 shares of the technology company’s stock valued at $61,192,000 after purchasing an additional 101,681 shares during the last quarter. Institutional investors own 93.30% of the company’s stock.

Insider Buying and Selling

In other Tyler Technologies news, CFO Brian K. Miller sold 1,200 shares of the business’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $580.72, for a total value of $696,864.00. Following the completion of the transaction, the chief financial officer now directly owns 13,772 shares of the company’s stock, valued at approximately $7,997,675.84. The trade was a 8.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel M. Pope sold 365 shares of the business’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $550.00, for a total value of $200,750.00. Following the completion of the transaction, the director now directly owns 2,853 shares of the company’s stock, valued at approximately $1,569,150. The trade was a 11.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,500 shares of company stock valued at $15,177,230 over the last three months. Company insiders own 1.10% of the company’s stock.

Tyler Technologies Stock Up 0.2%

Shares of Tyler Technologies stock opened at $569.57 on Friday. Tyler Technologies, Inc. has a 12 month low of $484.05 and a 12 month high of $661.31. The business has a fifty day simple moving average of $566.18 and a 200 day simple moving average of $582.75. The stock has a market cap of $24.56 billion, a PE ratio of 85.78, a price-to-earnings-growth ratio of 4.45 and a beta of 0.84.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.56 by $0.22. Tyler Technologies had a return on equity of 10.29% and a net margin of 13.23%. The business had revenue of $562.43 million during the quarter, compared to analysts’ expectations of $556.45 million. During the same period in the previous year, the firm earned $2.20 earnings per share. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. Analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wall Street Zen downgraded Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. Piper Sandler dropped their target price on Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating for the company in a research report on Friday, April 25th. Needham & Company LLC restated a “buy” rating and set a $750.00 target price on shares of Tyler Technologies in a research report on Tuesday, May 13th. Robert W. Baird dropped their target price on Tyler Technologies from $785.00 to $700.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Finally, DA Davidson dropped their target price on Tyler Technologies from $595.00 to $570.00 and set a “neutral” rating for the company in a research report on Friday, April 25th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Tyler Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $680.50.

About Tyler Technologies

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.