Tyler Technologies, Inc. (NYSE:TYL) Shares Bought by Smithfield Trust Co

Smithfield Trust Co grew its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 55.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84 shares of the technology company’s stock after purchasing an additional 30 shares during the quarter. Smithfield Trust Co’s holdings in Tyler Technologies were worth $48,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Geode Capital Management LLC increased its position in shares of Tyler Technologies by 2.2% during the third quarter. Geode Capital Management LLC now owns 1,108,908 shares of the technology company’s stock worth $645,585,000 after acquiring an additional 24,284 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Tyler Technologies by 2.0% during the third quarter. Franklin Resources Inc. now owns 912,746 shares of the technology company’s stock worth $547,354,000 after acquiring an additional 17,943 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Tyler Technologies by 4.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 904,175 shares of the technology company’s stock worth $527,785,000 after acquiring an additional 36,066 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Tyler Technologies by 1,991.8% during the fourth quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock worth $317,486,000 after acquiring an additional 524,259 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Tyler Technologies by 148.2% during the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock worth $269,369,000 after acquiring an additional 275,511 shares during the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

Insider Buying and Selling

In other Tyler Technologies news, CFO Brian K. Miller sold 6,752 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $613.75, for a total value of $4,144,040.00. Following the completion of the sale, the chief financial officer now directly owns 11,918 shares of the company’s stock, valued at approximately $7,314,672.50. This represents a 36.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the company’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 directly owns 75,734 shares of the company’s stock, valued at $46,772,561.06. The trade was a 7.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.

Tyler Technologies Stock Performance

TYL stock opened at $626.10 on Thursday. The company has a market capitalization of $26.93 billion, a P/E ratio of 103.32, a PEG ratio of 4.93 and a beta of 0.78. The company has a 50-day simple moving average of $599.07 and a 200 day simple moving average of $598.26. Tyler Technologies, Inc. has a fifty-two week low of $397.80 and a fifty-two week high of $661.31. 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 posted 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%. Sell-side analysts predict that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TYL. Barclays lifted their target price on Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. DA Davidson reissued a “neutral” rating and issued a $575.00 price objective on shares of Tyler Technologies in a report on Thursday, January 30th. Wells Fargo & Company reissued an “equal weight” rating and issued a $615.00 price objective (down from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. Truist Financial reissued a “buy” rating and issued a $775.00 price objective (up from $685.00) on shares of Tyler Technologies in a report on Friday, February 14th. Finally, StockNews.com lowered Tyler Technologies from a “buy” rating to a “hold” rating in a report on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.