Pictet Asset Management Holding SA Boosts Stock Position in Tyler Technologies, Inc. (NYSE:TYL)

Pictet Asset Management Holding SA increased its position in Tyler Technologies, Inc. (NYSE:TYL) by 9.7% in the 4th quarter, HoldingsChannel reports. The fund owned 20,869 shares of the technology company’s stock after buying an additional 1,846 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Tyler Technologies were worth $12,034,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its stake in shares of Tyler Technologies by 221.4% in the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock worth $26,000 after purchasing an additional 31 shares in the last quarter. Sierra Ocean LLC purchased a new stake in Tyler Technologies in the 4th quarter worth $32,000. OFI Invest Asset Management bought a new stake in Tyler Technologies during the fourth quarter valued at about $41,000. Smithfield Trust Co lifted its position in shares of Tyler Technologies by 55.6% in the fourth quarter. Smithfield Trust Co now owns 84 shares of the technology company’s stock valued at $48,000 after acquiring an additional 30 shares in the last quarter. Finally, Private Trust Co. NA boosted its stake in shares of Tyler Technologies by 51.8% in the fourth quarter. Private Trust Co. NA now owns 85 shares of the technology company’s stock worth $49,000 after acquiring an additional 29 shares during the period. Institutional investors own 93.30% of the company’s stock.

Tyler Technologies Stock Performance

NYSE TYL opened at $584.30 on Wednesday. The company has a market cap of $25.19 billion, a P/E ratio of 96.42, a P/E/G ratio of 4.93 and a beta of 0.80. The business’s 50 day moving average price is $599.99 and its 200-day moving average price is $597.72. Tyler Technologies, Inc. has a fifty-two week low of $397.80 and a fifty-two week high of $661.31. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35.

Tyler Technologies (NYSE:TYL) last released 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 return on equity of 10.15% and a net margin of 12.30%. Sell-side analysts predict that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and set a $700.00 target price on shares of Tyler Technologies in a research note on Tuesday, January 21st. Barclays boosted their target price on shares of Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. DA Davidson reaffirmed a “neutral” rating and set a $575.00 target price on shares of Tyler Technologies in a research note on Thursday, January 30th. Piper Sandler boosted their price target on shares of Tyler Technologies from $701.00 to $747.00 and gave the stock 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 objective (down previously 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 assigned a buy rating to the company’s stock. According to MarketBeat, Tyler Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $676.25.

Insider Activity

In other news, CFO Brian K. Miller sold 1,550 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were 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 approximately $8,606,073.08. The trade was a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John S. Marr, Jr. sold 6,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the completion of the transaction, the insider now owns 6,983 shares in the company, valued at approximately $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. Over the last 90 days, insiders have sold 14,064 shares of company stock valued at $8,688,030. 2.20% of the stock is currently owned by insiders.

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.