Norway Savings Bank Sells 63 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Norway Savings Bank lessened its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 1.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 4,094 shares of the technology company’s stock after selling 63 shares during the period. Tyler Technologies accounts for about 1.3% of Norway Savings Bank’s investment portfolio, making the stock its 22nd biggest holding. Norway Savings Bank’s holdings in Tyler Technologies were worth $2,361,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. National Bank of Canada FI raised its stake in Tyler Technologies by 25.3% during the 2nd quarter. National Bank of Canada FI now owns 11,701 shares of the technology company’s stock worth $5,845,000 after acquiring an additional 2,360 shares during the period. Private Advisor Group LLC lifted its stake in shares of Tyler Technologies by 156.0% during the 2nd quarter. Private Advisor Group LLC now owns 2,926 shares of the technology company’s stock valued at $1,471,000 after buying an additional 1,783 shares in the last quarter. Candriam S.C.A. boosted its holdings in Tyler Technologies by 10.3% in the 2nd quarter. Candriam S.C.A. now owns 2,331 shares of the technology company’s stock worth $1,172,000 after buying an additional 218 shares during the period. Acadian Asset Management LLC purchased a new stake in Tyler Technologies in the 2nd quarter worth $299,000. Finally, Prudential PLC bought a new stake in Tyler Technologies during the second quarter valued at about $204,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Tyler Technologies Stock Performance

Shares of NYSE TYL traded down $12.61 during midday trading on Tuesday, reaching $563.23. The company had a trading volume of 208,798 shares, compared to its average volume of 191,537. The stock has a market cap of $24.11 billion, a P/E ratio of 102.78, a P/E/G ratio of 5.54 and a beta of 0.78. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies, Inc. has a 1 year low of $397.80 and a 1 year high of $638.56. The business’s 50-day simple moving average is $607.90 and its 200 day simple moving average is $579.55.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The firm had revenue of $543.34 million during the quarter, compared to analysts’ expectations of $547.34 million. During the same period last year, the business posted $1.66 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, analysts forecast that Tyler Technologies, Inc. will post 7.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Robert W. Baird increased their target price on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. JMP Securities lifted their price objective on shares of Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a research report on Friday, October 25th. Truist Financial restated a “buy” rating and set a $685.00 target price (up previously from $600.00) on shares of Tyler Technologies in a research report on Friday, October 25th. Oppenheimer increased their price objective on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, DA Davidson raised their price objective on Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $643.77.

Insider Buying and Selling at Tyler Technologies

In other news, CFO Brian K. Miller sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $602.72, for a total transaction of $1,808,160.00. Following the sale, the chief financial officer now directly owns 11,950 shares in the company, valued at $7,202,504. This trade represents a 20.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John S. Marr, Jr. sold 12,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $613.66, for a total value of $7,363,920.00. Following the completion of the transaction, the insider now directly owns 6,983 shares of the company’s stock, valued at $4,285,187.78. The trade was a 63.21 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,252 shares of company stock valued at $26,096,928. 2.20% of the stock is owned by insiders.

About Tyler Technologies

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.