Tyler Technologies, Inc. (NYSE:TYL) Shares Purchased by Bank of Nova Scotia

Bank of Nova Scotia raised its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 15.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,300 shares of the technology company’s stock after purchasing an additional 847 shares during the period. Bank of Nova Scotia’s holdings in Tyler Technologies were worth $3,633,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TYL. Norges Bank purchased a new position in shares of Tyler Technologies during the fourth quarter valued at approximately $528,465,000. Van ECK Associates Corp boosted its position 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 buying an additional 524,259 shares during the period. Raymond James Financial Inc. purchased a new position in Tyler Technologies in the 4th quarter worth approximately $159,947,000. JPMorgan Chase & Co. boosted its stake in shares of Tyler Technologies by 148.2% in the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock valued at $269,369,000 after purchasing an additional 275,511 shares during the period. Finally, Seilern Investment Management Ltd acquired a new stake in shares of Tyler Technologies during the fourth quarter valued at about $105,549,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Tyler Technologies Stock Performance

Shares of TYL opened at $568.42 on Friday. The company has a 50-day moving average of $590.08 and a two-hundred day moving average of $595.48. Tyler Technologies, Inc. has a one year low of $397.80 and a one year high of $661.31. 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 cap of $24.50 billion, a price-to-earnings ratio of 93.80, a PEG ratio of 4.93 and a beta of 0.84.

Tyler Technologies (NYSE:TYL) last released 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 net margin of 12.30% and a return on equity of 10.15%. On average, equities research analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Brian K. Miller sold 1,550 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $613.58, for a total transaction of $951,049.00. Following the completion of the sale, the chief financial officer now directly owns 14,026 shares of the company’s stock, valued at $8,606,073.08. This trade represents a 9.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total value of $4,022,981.26. Following the completion of the sale, the chief executive officer now directly owns 75,734 shares of the company’s stock, valued at approximately $46,772,561.06. The trade was a 7.92 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,064 shares of company stock worth $8,688,030. Corporate insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $700.00 target price on shares of Tyler Technologies in a report on Tuesday, January 21st. DA Davidson reaffirmed a “neutral” rating and issued a $575.00 price objective on shares of Tyler Technologies in a report on Thursday, January 30th. Piper Sandler lifted their target price on Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $615.00 price target (down from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $676.25.

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.