Royal London Asset Management Ltd. Boosts Stake in Tyler Technologies, Inc. (NYSE:TYL)

Royal London Asset Management Ltd. raised its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 6.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,454 shares of the technology company’s stock after buying an additional 934 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Tyler Technologies were worth $6,880,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Tyler Technologies by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 4,913,419 shares of the technology company’s stock valued at $1,897,268,000 after acquiring an additional 29,578 shares during the last quarter. Norges Bank purchased a new position in shares of Tyler Technologies in the 4th quarter worth approximately $459,691,000. Franklin Resources Inc. increased its position in shares of Tyler Technologies by 6.7% during the 4th quarter. Franklin Resources Inc. now owns 1,040,341 shares of the technology company’s stock valued at $434,987,000 after purchasing an additional 64,889 shares during the last quarter. Morgan Stanley raised its holdings in Tyler Technologies by 21.1% during the 3rd quarter. Morgan Stanley now owns 1,015,713 shares of the technology company’s stock valued at $392,208,000 after buying an additional 177,242 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in Tyler Technologies by 5.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 872,960 shares of the technology company’s stock worth $365,002,000 after buying an additional 49,008 shares during the last quarter. Institutional investors own 93.30% of the company’s stock.

Analysts Set New Price Targets

TYL has been the topic of a number of analyst reports. BTIG Research upped their target price on Tyler Technologies from $515.00 to $550.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Loop Capital boosted their price target on Tyler Technologies from $485.00 to $530.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Needham & Company LLC increased their price target on shares of Tyler Technologies from $500.00 to $600.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Robert W. Baird lifted their price objective on shares of Tyler Technologies from $500.00 to $525.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Finally, JMP Securities restated a “market outperform” rating and issued a $490.00 target price on shares of Tyler Technologies in a research note on Friday, April 26th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $519.09.

Tyler Technologies Stock Performance

Shares of NYSE:TYL traded down $2.70 during trading on Friday, hitting $471.79. 170,008 shares of the stock traded hands, compared to its average volume of 182,472. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.20. The company has a fifty day moving average price of $461.42 and a two-hundred day moving average price of $435.99. Tyler Technologies, Inc. has a 52-week low of $361.16 and a 52-week high of $500.49. The company has a market cap of $20.03 billion, a price-to-earnings ratio of 106.74, a P/E/G ratio of 4.46 and a beta of 0.74.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $1.74 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.26. The firm had revenue of $512.36 million during the quarter, compared to analyst estimates of $507.79 million. Tyler Technologies had a return on equity of 9.35% and a net margin of 9.50%. As a group, equities analysts predict that Tyler Technologies, Inc. will post 7.1 EPS for the current year.

Insider Buying and Selling

In related news, insider John S. Marr, Jr. sold 6,000 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $483.21, for a total value of $2,899,260.00. Following the completion of the transaction, the insider now directly owns 6,983 shares of the company’s stock, valued at approximately $3,374,255.43. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Brenda A. Cline sold 5,000 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $458.83, for a total transaction of $2,294,150.00. Following the completion of the transaction, the director now directly owns 1,358 shares in the company, valued at $623,091.14. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $483.21, for a total value of $2,899,260.00. Following the completion of the transaction, the insider now directly owns 6,983 shares of the company’s stock, valued at $3,374,255.43. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,241 shares of company stock worth $12,495,890. Insiders own 2.20% of the company’s stock.

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.