CIBC Asset Management Inc Buys 289 Shares of Tyler Technologies, Inc. (NYSE:TYL)

CIBC Asset Management Inc increased its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 4.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,500 shares of the technology company’s stock after purchasing an additional 289 shares during the quarter. CIBC Asset Management Inc’s holdings in Tyler Technologies were worth $3,748,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of TYL. Oak Thistle LLC boosted its position in Tyler Technologies by 213.7% during the fourth quarter. Oak Thistle LLC now owns 2,328 shares of the technology company’s stock valued at $1,342,000 after acquiring an additional 1,586 shares during the last quarter. Aigen Investment Management LP acquired a new position in shares of Tyler Technologies during the third quarter valued at about $1,309,000. Maiden Cove Capital LLC acquired a new stake in shares of Tyler Technologies in the 3rd quarter worth about $583,000. Assetmark Inc. raised its holdings in shares of Tyler Technologies by 9.4% in the 3rd quarter. Assetmark Inc. now owns 9,910 shares of the technology company’s stock worth $5,785,000 after acquiring an additional 854 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Tyler Technologies in the 3rd quarter worth about $569,000. Institutional investors own 93.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TYL. Robert W. Baird upped their price objective on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Needham & Company LLC reissued a “buy” rating and set a $700.00 target price on shares of Tyler Technologies in a research report on Tuesday, January 21st. The Goldman Sachs Group raised their price objective on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a report on Tuesday. Truist Financial reaffirmed 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, Piper Sandler raised their price objective on shares of Tyler Technologies from $701.00 to $747.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Tyler Technologies presently has an average rating of “Moderate Buy” and an average price target of $676.25.

Insider Activity

In related news, insider John S. Marr, Jr. sold 12,000 shares of Tyler Technologies stock in a transaction on Monday, November 25th. The shares were sold at an average price of $613.66, for a total value of $7,363,920.00. Following the transaction, the insider now owns 6,983 shares in the company, valued at $4,285,187.78. This trade represents a 63.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian K. Miller sold 2,500 shares of Tyler Technologies stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $632.01, for a total transaction of $1,580,025.00. Following the completion of the transaction, the chief financial officer now owns 12,198 shares in the company, valued at approximately $7,709,257.98. The trade was a 17.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,502 shares of company stock worth $18,941,368. 2.20% of the stock is currently owned by corporate insiders.

Tyler Technologies Stock Performance

NYSE TYL opened at $628.12 on Friday. The company’s 50 day simple moving average is $597.45 and its two-hundred day simple moving average is $596.01. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21. The stock has a market capitalization of $26.88 billion, a PE ratio of 103.65, a P/E/G ratio of 5.01 and a beta of 0.78. Tyler Technologies, Inc. has a 1 year low of $397.80 and a 1 year high of $661.31.

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 net margin of 12.30% and a return on equity of 10.15%. Analysts predict that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Tyler Technologies Company 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.