First Citizens Bank & Trust Co. Acquires 72 Shares of Tyler Technologies, Inc. (NYSE:TYL)

First Citizens Bank & Trust Co. boosted its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 5.8% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,303 shares of the technology company’s stock after acquiring an additional 72 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Tyler Technologies were worth $758,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TYL. Integrated Wealth Concepts LLC increased its position in shares of Tyler Technologies by 2.3% during the 4th quarter. Integrated Wealth Concepts LLC now owns 786 shares of the technology company’s stock valued at $453,000 after purchasing an additional 18 shares during the last quarter. AdvisorNet Financial Inc increased its position in shares of Tyler Technologies by 7.0% during the 1st quarter. AdvisorNet Financial Inc now owns 291 shares of the technology company’s stock valued at $169,000 after purchasing an additional 19 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Tyler Technologies by 0.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,668 shares of the technology company’s stock valued at $2,115,000 after purchasing an additional 20 shares during the last quarter. Kensington Investment Counsel LLC increased its position in shares of Tyler Technologies by 0.8% during the 4th quarter. Kensington Investment Counsel LLC now owns 2,496 shares of the technology company’s stock valued at $1,439,000 after purchasing an additional 20 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its position in shares of Tyler Technologies by 1.5% during the 4th quarter. Benjamin Edwards Inc. now owns 1,526 shares of the technology company’s stock valued at $880,000 after purchasing an additional 22 shares during the last quarter. 93.30% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Tyler Technologies news, insider John S. Marr, Jr. sold 5,000 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $558.86, for a total value of $2,794,300.00. Following the completion of the sale, the insider now owns 6,983 shares in the company, valued at approximately $3,902,519.38. This trade represents a 41.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Brian K. Miller sold 1,033 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $557.45, for a total value of $575,845.85. Following the completion of the transaction, the chief financial officer now directly owns 13,028 shares of the company’s stock, valued at $7,262,458.60. This represents a 7.35% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,806 shares of company stock worth $10,092,030. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TYL has been the topic of several recent research reports. The Goldman Sachs Group increased their price objective on Tyler Technologies from $660.00 to $728.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Piper Sandler reduced their price objective on Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating on the stock in a research report on Friday, April 25th. Wells Fargo & Company reduced their price objective on Tyler Technologies from $640.00 to $610.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Truist Financial reiterated a “buy” rating and set a $775.00 price objective (up from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. 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 report on Friday, April 25th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Tyler Technologies has an average rating of “Moderate Buy” and an average price target of $680.50.

Tyler Technologies Trading Up 1.2%

NYSE TYL opened at $587.24 on Wednesday. Tyler Technologies, Inc. has a fifty-two week low of $458.50 and a fifty-two week high of $661.31. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. The stock has a 50 day simple moving average of $561.07 and a two-hundred day simple moving average of $585.55. The stock has a market cap of $25.32 billion, a P/E ratio of 96.90, a price-to-earnings-growth ratio of 4.93 and a beta of 0.84.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.22. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. The business had revenue of $562.43 million during the quarter, compared to analysts’ expectations of $556.45 million. During the same quarter last year, the business posted $2.20 EPS. The business’s revenue was up 10.3% on a year-over-year basis. On average, analysts forecast that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

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.