Tyler Technologies, Inc. (NYSE:TYL) Holdings Raised by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its stake in Tyler Technologies, Inc. (NYSE:TYL) by 8.8% in the third quarter, HoldingsChannel reports. The firm owned 6,211 shares of the technology company’s stock after purchasing an additional 501 shares during the period. CIBC Asset Management Inc’s holdings in Tyler Technologies were worth $3,625,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of TYL. Waldron Private Wealth LLC boosted its holdings in shares of Tyler Technologies by 3.5% in the second quarter. Waldron Private Wealth LLC now owns 716 shares of the technology company’s stock worth $360,000 after buying an additional 24 shares during the period. Industrial Alliance Investment Management Inc. boosted its stake in Tyler Technologies by 4.4% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 693 shares of the technology company’s stock worth $295,000 after purchasing an additional 29 shares during the period. George Kaiser Family Foundation grew its position in Tyler Technologies by 0.7% during the 2nd quarter. George Kaiser Family Foundation now owns 4,177 shares of the technology company’s stock worth $2,100,000 after purchasing an additional 29 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in Tyler Technologies by 2.3% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,377 shares of the technology company’s stock valued at $804,000 after purchasing an additional 31 shares during the period. Finally, UMB Bank n.a. raised its stake in Tyler Technologies by 2.4% during the 3rd quarter. UMB Bank n.a. now owns 1,354 shares of the technology company’s stock valued at $790,000 after purchasing an additional 32 shares during the period. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Analyst Upgrades and Downgrades

TYL has been the topic of a number of research analyst reports. Evercore ISI upgraded Tyler Technologies to a “hold” rating in a report on Friday, July 26th. DA Davidson upped their target price on Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. JMP Securities raised their price target on shares of Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a report on Friday, October 25th. Barclays upped their price objective on shares of Tyler Technologies from $700.00 to $705.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Truist Financial restated a “buy” rating and set a $685.00 price target (up from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Tyler Technologies has a consensus rating of “Moderate Buy” and an average price target of $642.62.

Tyler Technologies Stock Up 0.7 %

TYL opened at $601.19 on Tuesday. The firm has a market cap of $25.73 billion, a P/E ratio of 109.71, a price-to-earnings-growth ratio of 5.39 and a beta of 0.77. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21. The business has a 50 day moving average price of $593.78 and a 200 day moving average price of $547.67. Tyler Technologies, Inc. has a twelve month low of $397.80 and a twelve month high of $631.43.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.09. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The business had revenue of $543.34 million during the quarter, compared to analysts’ expectations of $547.34 million. During the same period in the previous year, the company earned $1.66 earnings per share. Tyler Technologies’s revenue for the quarter was up 9.8% on a year-over-year basis. Research analysts forecast that Tyler Technologies, Inc. will post 7.39 EPS for the current year.

Insider Activity

In other news, Director Glenn A. Carter sold 3,350 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $582.57, for a total value of $1,951,609.50. Following the sale, the director now owns 2,654 shares in the company, valued at approximately $1,546,140.78. This trade represents a 55.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Brian K. Miller sold 2,500 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $586.97, for a total transaction of $1,467,425.00. Following the transaction, the chief financial officer now owns 11,950 shares of the company’s stock, valued at approximately $7,014,291.50. The trade was a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,600 shares of company stock valued at $19,307,295. 2.20% of the stock is owned by insiders.

Tyler Technologies 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.