Allstate Corp Invests $714,000 in Tyler Technologies, Inc. (NYSE:TYL)

Allstate Corp acquired a new stake in Tyler Technologies, Inc. (NYSE:TYL) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,238 shares of the technology company’s stock, valued at approximately $714,000.

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

Insider Buying and Selling

In related news, CEO H Lynn Moore, Jr. sold 6,514 shares of the business’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 in the company, valued at approximately $46,772,561.06. The trade was a 7.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the completion of the transaction, the insider now directly owns 6,983 shares of the company’s stock, valued at approximately $4,322,477. This trade represents a 46.21 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,064 shares of company stock worth $8,688,030. Corporate insiders own 2.20% of the company’s stock.

Tyler Technologies Price Performance

NYSE TYL opened at $581.12 on Tuesday. Tyler Technologies, Inc. has a 12-month low of $397.80 and a 12-month high of $661.31. The firm’s 50 day moving average is $599.99 and its 200-day moving average is $597.70. The company has a market capitalization of $25.05 billion, a PE ratio of 95.89, a price-to-earnings-growth ratio of 4.93 and a beta of 0.80. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 EPS 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%. Equities research analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on TYL shares. Piper Sandler lifted their price objective on shares of Tyler Technologies from $701.00 to $747.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. StockNews.com cut shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Monday, February 24th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $615.00 price objective (down previously from $670.00) on shares of Tyler Technologies in a research note on Tuesday, January 7th. The Goldman Sachs Group increased their price target on Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Finally, Truist Financial reaffirmed a “buy” rating and set a $775.00 price target (up previously from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $676.25.

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.