Tyler Technologies, Inc. (NYSE:TYL) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its stake in Tyler Technologies, Inc. (NYSE:TYL) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,277,441 shares of the technology company’s stock after selling 14,371 shares during the quarter. Principal Financial Group Inc.’s holdings in Tyler Technologies were worth $736,624,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Sierra Ocean LLC acquired a new position in shares of Tyler Technologies in the fourth quarter worth $32,000. PUREfi Wealth LLC acquired a new position in shares of Tyler Technologies in the fourth quarter worth $300,000. Adell Harriman & Carpenter Inc. acquired a new position in shares of Tyler Technologies in the fourth quarter worth $263,000. Asset Management One Co. Ltd. raised its holdings in shares of Tyler Technologies by 4.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 33,893 shares of the technology company’s stock worth $19,841,000 after acquiring an additional 1,388 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Tyler Technologies by 1,991.8% in the fourth quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock worth $317,486,000 after acquiring an additional 524,259 shares during the last quarter. 93.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Truist Financial reiterated a “buy” rating and issued a $775.00 target price (up from $685.00) on shares of Tyler Technologies in a research note on Friday. JMP Securities upped their target price on Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a research note on Friday, October 25th. Oppenheimer upped their target price on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Robert W. Baird upped their target price on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $615.00 target price (down from $670.00) on shares of Tyler Technologies in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $667.83.

Insider Transactions at Tyler Technologies

In other news, 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 sale, the insider now owns 6,983 shares of the company’s stock, valued at $4,285,187.78. This represents a 63.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian K. Miller sold 2,500 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $632.01, for a total value of $1,580,025.00. Following the completion of the transaction, the chief financial officer now directly owns 12,198 shares of the company’s stock, valued at $7,709,257.98. This represents a 17.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock valued at $18,941,368 over the last quarter. Company insiders own 2.20% of the company’s stock.

Tyler Technologies Price Performance

TYL stock opened at $642.39 on Monday. The stock has a 50-day moving average price of $596.21 and a two-hundred day moving average price of $594.48. Tyler Technologies, Inc. has a 12-month low of $397.80 and a 12-month high of $661.31. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The company has a market cap of $27.49 billion, a PE ratio of 117.22, a price-to-earnings-growth ratio of 4.78 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last issued its earnings results 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 return on equity of 9.79% and a net margin of 11.39%. As a group, research analysts predict that Tyler Technologies, Inc. will post 7.36 EPS for the current year.

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.