ING Groep NV Lowers Stake in Tyler Technologies, Inc. (NYSE:TYL)

ING Groep NV reduced its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,466 shares of the technology company’s stock after selling 241 shares during the period. ING Groep NV’s holdings in Tyler Technologies were worth $3,152,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB lifted its position in Tyler Technologies by 18.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the technology company’s stock valued at $78,000 after acquiring an additional 21 shares during the period. Baron Wealth Management LLC raised its holdings in Tyler Technologies by 1.5% in the fourth quarter. Baron Wealth Management LLC now owns 1,487 shares of the technology company’s stock worth $857,000 after buying an additional 22 shares during the last quarter. Choreo LLC raised its holdings in Tyler Technologies by 3.9% in the fourth quarter. Choreo LLC now owns 647 shares of the technology company’s stock worth $374,000 after buying an additional 24 shares during the last quarter. Oak Ridge Investments LLC raised its holdings in Tyler Technologies by 0.8% in the fourth quarter. Oak Ridge Investments LLC now owns 3,011 shares of the technology company’s stock worth $1,736,000 after buying an additional 25 shares during the last quarter. Finally, Mather Group LLC. raised its holdings in Tyler Technologies by 9.0% in the fourth quarter. Mather Group LLC. now owns 315 shares of the technology company’s stock worth $182,000 after buying an additional 26 shares during the last quarter. 93.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on TYL. The Goldman Sachs Group lifted their target price on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Truist Financial reaffirmed a “buy” rating and issued a $775.00 target price (up from $685.00) on shares of Tyler Technologies in a report on Friday, February 14th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $615.00 target price (down from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. DA Davidson reaffirmed a “neutral” rating and issued a $575.00 target price on shares of Tyler Technologies in a report on Thursday, January 30th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $700.00 price target on shares of Tyler Technologies in a research note on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $676.25.

Tyler Technologies Stock Performance

Shares of NYSE TYL opened at $614.89 on Friday. The firm has a 50 day moving average of $597.53 and a 200 day moving average of $596.50. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $26.45 billion, a price-to-earnings ratio of 101.47, a price-to-earnings-growth ratio of 4.93 and a beta of 0.78. Tyler Technologies, Inc. has a 12-month low of $397.80 and a 12-month high of $661.31.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share (EPS) 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%. On average, research analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider John S. Marr, Jr. sold 12,000 shares of the business’s 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 of the company’s stock, valued at approximately $4,285,187.78. The trade was a 63.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brian K. Miller sold 6,752 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $613.75, for a total transaction of $4,144,040.00. Following the completion of the transaction, the chief financial officer now directly owns 11,918 shares in the company, valued at $7,314,672.50. This trade represents a 36.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,502 shares of company stock worth $18,941,368 over the last three months. 2.20% of the stock is currently owned by company insiders.

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.