Czech National Bank Increases Stake in Tyler Technologies, Inc.
In a recent update, the Czech National Bank has boosted its stake in Tyler Technologies, Inc. (NYSE:TYL) by 0.6% during the first quarter. As per the latest filing with the Securities & Exchange Commission, the bank now owns 7,411 shares of the technology company's stock, up by 42 shares, valued at $3,150,000 at the end of the quarter.
Other Major Investors on Board
Several other major investors have also adjusted their stakes in Tyler Technologies:
- Baron Wealth Management LLC up by 2.0% in the 4th quarter, now holding 1,463 shares valued at $612,000.
- Centered Wealth LLC dba Miller Equity Capital Advisors inched up by 0.8% in the 4th quarter, now owning 3,920 shares valued at $1,639,000.
- GW&K Investment Management LLC increased its holdings by 0.3%, now with 12,044 shares worth $5,035,000.
- Avantax Advisory Services Inc. raised its stake by 5.2%, holding 670 shares valued at $280,000.
- Janney Montgomery Scott LLC upped its position by 0.3%, now owning 10,965 shares valued at $4,585,000.
Overall, a whopping 93.30% of Tyler Technologies' stock is owned by hedge funds and institutional investors.
Analysts Set New Price Targets
Equity research analysts are optimistic about Tyler Technologies:
- JMP Securities reissued a "market outperform" rating with a price target of $490.00.
- Oppenheimer increased its target from $500.00 to $550.00, giving an “outperform” rating.
- Piper Sandler reaffirmed an “overweight” rating with a $520.00 target price.
- Truist Financial upped its target from $510.00 to $560.00, reiterating a “buy” rating.
- BTIG Research boosted its target from $515.00 to $550.00, also giving a “buy” rating.
Out of all, three analysts gave a hold rating, while nine recommended a buy, resulting in an average rating of “Moderate Buy” and a consensus price target of $519.09.
Insider Transactions
Insider trades have also been recorded:
- Director Daniel M. Pope sold 520 shares on May 15th at an average price of $491.18, totaling $255,413.60. He now holds 3,493 shares worth $1,715,691.74.
- Director Brenda A. Cline sold 5,000 shares on April 29th at $458.83 per share, totaling $2,294,150.00. Post-sale, Cline holds 1,358 shares valued at $623,091.14.
In the past 90 days, insiders sold 26,241 shares worth $12,495,890. Insiders now own 2.20% of the company’s stock.
Tyler Technologies Stock Performance
On Friday, Tyler Technologies’ stock increased by 2.2% to $489.55. Key metrics include a market cap of $20.79 billion, a P/E ratio of 110.76, and a P/E/G ratio of 4.50 with a beta of 0.74. The 52-week range for the stock is $361.16 to $500.49.
Earnings Report
Tyler Technologies reported its latest earnings on April 24th, surpassing expectations with an EPS of $1.74, beating the consensus of $1.48 by $0.26. The company had revenues of $512.36 million, surpassing forecasts of $507.79 million. Analysts predict Tyler Technologies will post an EPS of 7.1 for the current year.
Company Profile
Tyler Technologies, Inc. delivers integrated information management solutions and services specifically for the public sector. It operates through these primary segments: Enterprise Software and Platform Technologies.
The company offers a range of solutions including:
- Cybersecurity for government entities
- Data and Insights Solutions
- Digital Solutions to help workers and policymakers share and leverage data
- Payments Solutions like billing and collections
- Platform Technologies that enable government workers to build applications
- Outdoor Recreation Solutions, simplifying campsite reservations and park management
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