Swedbank AB raised its position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 1.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 459,850 shares of the technology company's stock after purchasing an additional 7,838 shares during the period. Swedbank AB owned 1.07% of Tyler Technologies worth $265,168,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in Tyler Technologies in the third quarter valued at approximately $27,000. Tobam purchased a new stake in Tyler Technologies during the 3rd quarter worth approximately $78,000. Quarry LP purchased a new position in Tyler Technologies in the 3rd quarter valued at approximately $78,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Tyler Technologies by 18.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the technology company's stock worth $78,000 after acquiring an additional 21 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of Tyler Technologies during the third quarter worth $79,000. Institutional investors and hedge funds own 93.30% of the company's stock.
Shares of TYL traded down $11.14 during trading hours on Wednesday, reaching $608.71. 8,846 shares of the company's stock traded hands, compared to its average volume of 211,987. The firm has a market capitalization of $26.05 billion, a price-to-earnings ratio of 111.08, a P/E/G ratio of 4.55 and a beta of 0.78. The business's fifty day simple moving average is $598.46 and its two-hundred day simple moving average is $588.08. Tyler Technologies, Inc. has a twelve month low of $397.80 and a twelve month high of $638.56. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21.
In related news, CFO Brian K. Miller sold 6,752 shares of the stock in a transaction dated Friday, December 13th. The stock was 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 is accessible through this hyperlink. Also, insider John S. Marr, Jr. sold 12,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the completion of the sale, the insider now directly owns 6,983 shares of the company's stock, valued at $4,285,187.78. This trade represents a 63.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,252 shares of company stock worth $26,096,928. 2.20% of the stock is owned by corporate insiders.
A number of brokerages have recently weighed in on TYL. Wells Fargo & Company restated 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 $685.00 target price (up previously from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. StockNews.com downgraded shares of Tyler Technologies from a "buy" rating to a "hold" rating in a report on Friday, December 6th. Barclays raised their price objective on Tyler Technologies from $700.00 to $705.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Finally, Piper Sandler increased their target price on Tyler Technologies from $625.00 to $701.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $643.77.
Get Our Latest Analysis on TYL
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.
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