Federated Hermes Inc. Buys 6,368 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Federated Hermes Inc. grew its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 3.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 218,574 shares of the technology company’s stock after purchasing an additional 6,368 shares during the period. Federated Hermes Inc. owned approximately 0.51% of Tyler Technologies worth $126,039,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Tyler Technologies by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 5,310,401 shares of the technology company’s stock worth $3,062,190,000 after acquiring an additional 62,420 shares during the period. Geode Capital Management LLC grew its stake in Tyler Technologies by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 1,136,734 shares of the technology company’s stock worth $654,406,000 after purchasing an additional 27,826 shares during the period. Franklin Resources Inc. raised its holdings in Tyler Technologies by 7.9% in the fourth quarter. Franklin Resources Inc. now owns 984,615 shares of the technology company’s stock worth $567,768,000 after purchasing an additional 71,869 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Tyler Technologies by 3.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 939,373 shares of the technology company’s stock valued at $541,680,000 after buying an additional 35,198 shares during the period. Finally, Norges Bank bought a new stake in shares of Tyler Technologies during the 4th quarter valued at $528,465,000. 93.30% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,514 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $617.59, for a total value of $4,022,981.26. Following the transaction, the chief executive officer now owns 75,734 shares of the company’s stock, valued at approximately $46,772,561.06. This represents a 7.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $619.00, for a total value of $3,714,000.00. Following the completion of the transaction, the insider now directly owns 6,983 shares in the company, valued at $4,322,477. The trade was a 46.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,064 shares of company stock valued at $8,688,030. Company insiders own 2.20% of the company’s stock.

Tyler Technologies Trading Down 5.3 %

Tyler Technologies stock opened at $539.40 on Friday. Tyler Technologies, Inc. has a one year low of $397.80 and a one year high of $661.31. The business’s fifty day moving average is $598.37 and its 200 day moving average is $597.21. The stock has a market capitalization of $23.25 billion, a PE ratio of 89.01, a price-to-earnings-growth ratio of 4.93 and a beta of 0.84. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, sell-side analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Barclays lifted their price target on shares of Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Piper Sandler boosted their price target on Tyler Technologies from $701.00 to $747.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Wells Fargo & Company reiterated an “equal weight” rating and set a $615.00 price objective (down previously from $670.00) on shares of Tyler Technologies in a research note on Tuesday, January 7th. Truist Financial reissued 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. Finally, StockNews.com upgraded Tyler Technologies from a “hold” rating to a “buy” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.